Ⅲ. Characteristics of New Pension System in Chile
1. Individual Capitalization Accounts (ICA)
In Chile, they have pension system that subscribers pay back from their individual accounts after retirement. Therefore this account have no income redistribution among inter-layers and no income transfer between generations that exist in korean pension system. ICA's contributions are not inc
Fiscal Balance
Economic insecurity and resulting social unrest occasioned by ever-expanding populations of involuntarily unemployed dominated social thinking in developed countries during much of the 20th century. As the average lifetime is getting higher, the percentage of World`s population aged 65 and over is going up.
Figure4. Percentage of World’s Population Aged 65 and over (*Pro
Ⅰ.What is the IMF?
The International Monetary Fund was created in 1945 to help promote the health of the world economy. Headquartered in Washington DC, it is governed by and accountable to the governments of the 185 countries that make up its near-global membership.
Korea joined IMF in 1955.
1.What is the International Monetary Fund?
The International Monetary Fund—also known as
Ⅱ. General Information and Structure of Program Budget System
Government innovation is a global trend. The crux of the government innovation is said that the importance of fiscal reform that has emerged as an important issue than ever before. Effectiveness issue than ev, fiscal reform, transparency, equity and accountability should aim to improve.
Current central government agencies a
Fiscal year Total assets Total liabilities Total equities
10 36,987 34,212 2,775
09 28,222 25,277 2,945
08 27,114 26,985 129
07 25,770 22,237 3,532
06 25,960 19,185 6,775
Pulmuone Waters’ balance sheets show that its debt ratio is high. The debt ratio was 0.925 in 2010, 0.896 in 2009, and 0.995 in 2008. Most of its liabilities are short-run debt. This short-run debt seems to be used in