Public Financial Regime Types by Government Expenditures. Korean Review of Public Administration, 43(2) : 309-334.
This study tries to classify positivistically the public financial regimes of OECD member countries by their government expenditures based on a historical institutionalistic hypothesis postulating that each nation's public financial regime commensurates with its intuitional structure histrionically formed on the national level. An exploratory factor analysis on OECD countries' government expenditure has determined two dimensions of orientation within it: developmental vs. welfare state and social protection vs. social investment state. Identifying that this nation is the only social investment-oriented developmental state among investigated countries, it has also classified them into 4 unique regime types: social investment-oriented liberal states, social protective welfare states, social investment-oriented developmental states and developmental welfare states.
In conclusion, this study demonstrates that historical institutionalistic approach can give insights into public financial phenomena, and that a state tends to allocate financial resources strategically to develop a specific set of functions according to its financial regime type. Also, it finds that liberal states known as passive and minimal governments defined from a viewpoint of welfare states are essentially active in social investment. And Korea shares the activeness in social investment for the nation's whole efficiency and effectiveness with these social investment-oriented liberal states.
key words: public financial regimes, historical institutionalism