JOURNAL BROWSE
Search
Advanced SearchSearch Tips
The Analysis of Fiscal Conditions for Public Rental Housing
facebook(new window)  Pirnt(new window) E-mail(new window) Excel Download
 Title & Authors
The Analysis of Fiscal Conditions for Public Rental Housing
Lee, Jong-Kwon; Choi, Eun-Hee;
  PDF(new window)
 Abstract
This paper is focused on the sustainability of public rental housing policy. We have analyzed the general fiscal conditions of central government, the public welfare fiscal conditions, the public expenditure on rental housing, and the Korea Land & Housing Corporation (LH) financial structure. Central government fiscal conditions is controlled by the midium-term fiscal operation plan(2010~2014) and fiscal rules. And the fiscal mandatory expenditures on welfare is increased rapidly by the expansion of beneficiaries, but the fiscal discretionary expenditures particularly on public rental housing can be gradually cut down. LH, the dominant agency responsible for affordable housing, is now confronted with financial distress accruing to excessive burden for public rental housing construction. As a result this paper, we find the discrepancy between the fiscal conditons and public rental housing policies. We suggest the fiscally sustainable rental housing policy. Firstly, the construction plan should be realized reflecting the market and fiscal conditions. Secondly, the provsion and financing system of rental housing should be rebuild within the government fiscal condtions and financial ability of LH.
 Keywords
public rental housing;fiscal policy;public welfare finance;public expenditure for housing;LH financial condtions;
 Language
English
 Cited by
 References
1.
Budget & Policy Bureau in National Assembly (2010), Analysis of Financial State of Corporations.

2.
Choi, E. H., J. Lee, W. Nam, S. Lee and S. Kim (2009), Reestablishment of Direction of Public Housing Policy and Plan for Raising Stable Financial Sources, Land & Housing Institute.

3.
IMF (2009), The State of Public Finance: A Cross-country Fiscal Monitor, SPN/09/25. 2009.

4.
IMF (2006), Government Finance Statistics Yearbook.

5.
Lee, J. K., E. Choi, C. Kwon and W. Nam (2011), Evaluation of New Plus Rental Housing and Policy Tasks, Land & Housing Institute.

6.
Ministry of Land, Transport and Maritime Affairs (2011), Handbook on New Plus Housing Job.

7.
Ministry of Land, Transport and Maritime Affairs (2010), General Plan of Housing, 2010.

8.
Ministry of Land, Transport and Maritime Affairs (2008), "Revitalization of Downtown Supply for Residential Stability of the People and Construction Plan of New Plus Housing".

9.
Ministry of Construction & Transportation, General Plan of Housing, published yearly.

10.
Ministry of Construction & Transportation, Handbook on Housing Job, published yearly.

11.
Park, I. H. (2010), Operation Status of Welfare Finance and Policy Tasks, Budget & Policy Bureau in National Assembly.

12.
Park, S. M., K. Shin and M. Park (2007), Medium-Term Financial Prospect of National Pension (2008-2012), Institute of National Pension.

13.
Korea Development Institute (2010), Evaluation of Long and Short-Term Hazards of Main Corporation Liabilities.

14.
Korea Corporation Evaluation (2010), Report on Credit Assessment of Corporation.

15.
Korea Land & Housing Corporation (2010), Financial Diagnostic Report