한국지방행정연구원

Basic Report

Year
2020
Author
Jang-wook Lee, Seo Jeoung Seoup

The Improvement of Local Fiscal Management System on the Major Circumstance Change of Local Finance

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There has been many changes in the societal, economic, or political circumstance of local finance in recent years. The changes which the local governments confronted have been so sudden and dynamic in the progress and have induced the volatility of uncertainty in the local fiscal operation system. Another words, those sudden changes of local fiscal circumstance have also increased the risk of local fiscal operation and arose the high probability of ‘fiscal cliff’ by the operational risk in local finance. It means that might occur not only the high probability of the discontinuity of the operation of local finance but also the malfunction of operations of local governments. Therefore, This paper presents the improvement of local fiscal management system on the major circumstance changes of local finance to prevent the local fiscal operation system from fiscal cliff or operating discontinuity happens. First, this paper analyzes and infers the major factors of change of the circumstance of local finance. Second, then, it provides the improvement of major four local fiscal management systems.