The Public-Private Partnerships and the Fiscal Soundness of Local Governments in Korea
0
조회
0
다운로드
1
인용
0
참고문헌
키워드
초록
This paper studies the risks associated with local finance in Korea by identifying the financial status of each local government, including the financial burdens of PPP projects, and examined governmental future burdens related to PPP projects. We reviewed all fiscal burdens associated with projects, such as, for BTL (Build-Transfer-Lease) types of projects, facility lease and operating expenses, and, for the BTO (Build-Transfer-Operate) types of projects, construction subsidies that are paid at the construction stage, MRG (Minimum Revenue Guarantee) payments and the government’s share of payment. Furthermore, we compared the annual expenditures of local governments on PPP projects against their annual budgets and checked if the 2% ceiling rule could be applied.
Abstract
This paper studies the risks associated with local finance in Korea by identifying the financial status of each local government, including the financial burdens of PPP projects, and examined governmental future burdens related to PPP projects. We reviewed all fiscal burdens associated with projects, such as, for BTL (Build-Transfer-Lease) types of projects, facility lease and operating expenses, and, for the BTO (Build-Transfer-Operate) types of projects, construction subsidies that are paid at the construction stage, MRG (Minimum Revenue Guarantee) payments and the government’s share of payment. Furthermore, we compared the annual expenditures of local governments on PPP projects against their annual budgets and checked if the 2% ceiling rule could be applied.
참고문헌 (14)
- Cho, Ki-hyun, "Improvement Solutions of Local Debt Management System for Advancement of Local Finance", Local Finance and Local Taxes Local Finance Association, Book, 30, pp.61~88 (2010)
- Choi, Seok-jun, "Direction of Finance Management of BTL Projects: Focusing on the Evaluation Criteria of Determining National Debt and Management Solutions in Terms of Finance", Journal of Economic Policy, 29(1), pp.137~175 (2007)
- Choi, Seok-jun., "The Problems of BTL Projects and Its Influence on Financial Integrity. Debate Reference", National Assembly Budget Office, ~ (2008)
- "Manual on Government Deficit and Debt. 4th Edition" (2012)[URL]
- IMF, "Public Investment and Public-Private Partnerships" (2007)
- Jung, Sung-ho, "Consideration of Potential Financial Risks of Metropolitan City and Province Local Autonomous Entities: A Comprehensive Debt Management Solution", Local Finance, (6), pp.74~101 (2012)
- 정성호, "재정건전성 제고를 위한 포괄적 부채관리: 광역시･도 지방자치단체의 재정, 공기업, 민간투자사업(BTO･BTL)간 관계", 한국지방재정논집, 18(1), pp.131~162 (2013), 한국지방재정학회
- Jung, Sung-ho, "Tasks of and Solutions to Financial Crisis of Local Governments", Korean Association for Public Administration Summer Symposium Journal, (2013), pp.1880~1911 (2013)
- Kwak, Chae-gi, "Operation Results and Re-structuring Measures of the Early Warning System for Local Finance Risk", Local Finance, (1), pp.100~125 (2013), Local Finance Association
- 민기, "임대형 민간투자사업(BTL)에 대한 지방자치단체의 재정관리방안", 지방정부연구, 13(3), pp.207~222 (2009), 한국지방정부학회
- 민기, "지방정부의 재정건전성 강화를 위한 임대형 민간투자사업 관리방안", 한국지방재정논집, 18(1), pp.1~24 (2013), 한국지방재정학회
- HM Treasury, ‘Tangible Non-Current Assets’. Financial Report Manual, "PPP", ~ (2010)
- Suh, Jeong-sub, "Current Situation and Limitations of Local Finance Risk Management System", Local Finance and Local Taxes Local Finance Association, Book, 34, pp.22~42 (2010)
- Improving the Management System of Local Government Finance: Focusing on Local Financial Crisis Solutions, "The Korea Research Institute for Local Administration", 1~191, pp.Research Report Book 421 (2008)