The difference in under-expenditure of the social welfare budget in Korea
The difference in under-expenditure of the social welfare budget in Korea

Summary/Abstract: This research investigates the relationship between under-expenditure of the social welfare budget within a limited budget and the determinants that have an effect on them. Relationships and de- terminants between under-expenditure of the social welfare budget have generally received relatively little attention from academics. The aim of this article is to examine the differences in the under-expenditures of the social welfare budget in the Korea between 1965 and 2008. It is shown that pub lic assistance and social service expenditures are not comparable with national insurance expenditure according to the Box-Jenkins’ multi-variant ARIMA models. The appearance of them being commensu- rate is spurious because it is affected by political economic factors. The research findings in this paper can contribute to the development of budgetary theory and budgetary politics. However some findings within in the ARIMA models were incapable of being interpreted within existing theories and conjecture such as those with a 9 year time lag, etc. Further studies are there- fore required.

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