KDI Journal of Economic Policy, August 2021 - KDI 한국개발연구원 - 연구 - 보고서
본문 바로가기

KDI 한국개발연구원

KDI 한국개발연구원

SITEMAP

KDI 정책연구 KDI Journal of Economic Policy, August 2021 2021.08.31

표지

Series No. Vol.43, No.3

KDI 정책연구 KDI Journal of Economic Policy, August 2021 #거시 일반(기타)

2021.08.31

  • KDI
    한국개발연구원
영문요약
Effects of Easing LTV·DTI Regulations on the Debt Structure and Credit Risk of Borrowers / Meeroo Kim and Yoon Hae Oh

With CB data in South Korea, this study examines whether the credit risk of borrowers changes when the regulation on bank mortgage supply is relaxed. We analyze the effect of deregulation on LTV and DTI limits in the Seoul-metropolitan area in August 2014 with a difference-in-difference approach. We find that the probability of delinquency is lower in the Seoul metropolitan area after the deregulation than in other urban areas. The effect is noticeable among low-income and low-credit borrowers. We also find that borrowers change their debt structure to reduce the interest costs utilizing their improved access to bank mortgages. The findings suggest the necessity to consider the burden of the high interest costs of unsecured loans for debtors with low incomes and low credit ratings in designing housing finance regulations.

Measuring the Degree of Integration into the Global Production Network by the Decomposition of Gross Output and Imports: Korea 1970-2018 / Dongseok Kim

The import content of exports (ICE) is defined as the amount of foreign input embodied in one unit of export, and it has been used as a measure of the degree of integration into the global production network. In this paper, we suggest an alternative measure based on the decomposition of gross output and imports into the contributions of final demand terms. This measure considers the manner in which a country manages its domestic production base (gross output) and utilizes the foreign sector (imports) simultaneously and can thus be regarded as a more comprehensive measure than ICE. Korea’s input-output tables in 1970-2018 are used in this paper. These tables were rearranged according to the same 26-industry classification so that these measures can be computed with time-series continuity and so that the results can be interpreted clearly. The results obtained in this paper are based on extended time-series data and are expected to be reliable and robust. The suggested indicators were applied to these tables, and, based on the results we conclude that the overall importance of the global economy in Korea’s economic strategy has risen and that the degree of Korea’s integration into the global production network increased over the entire period. This paper also shows that ICE incorrectly measures the movement of the degree of integration into the global production network in some periods.

An Unsuccessful Reform on the Local Public Contracts Law in Korea / Sunjoo Hwang

In Korea, local governments and local agencies had to apply a version of the first price auction augmented by an ex-post screening process when they procure construction contracts. However, this first price auction had been criticized because it was felt that too much price competition could lead to poor ex-post performance in construction. In response, the existing auction method was recently replaced by a version of the average price auction with a similar screening process. This paper empirically examines the effectiveness of this reform and finds that the replacement only increases the fiscal burden of local governmental bodies without making any improvement in the ex-post performance.
목차
Effects of Easing LTV·DTI Regulations on the Debt Structure and Credit Risk of Borrowers / Meeroo Kim and Yoon Hae Oh
 I. Introduction
 II. Review of LTV·DTI in the Literature
 III. Data and Empirical Strategy
 IV. Empirical Results
 V. Conclusion
 APPENDIX
 REFERENCES

Measuring the Degree of Integration into the Global Production Network by the Decomposition of Gross Output and Imports: Korea 1970-2018 / Dongseok Kim
 I. Introduction
 II. Motivation and Literature
 III. Methodology and Data
 IV. Results
 V. Conclusion
 REFERENCES

An Unsuccessful Reform on the Local Public Contracts Law in Korea / Sunjoo Hwang
 I. Introduction
 II. Institutional Background
 III. Theory Overview and Hypothesis Formulation
 IV. Empirical Analysis: Price Performance
 V. Empirical Analysis: Ex-Post Performance
 VI. Empirical Analysis: Simple Regression
 VII. Conclusion and Policy Implications
 REFERENCES
관련 자료 ( 9 )
  • 주요 관련자료
  • 같은 주제자료
공공누리

한국개발연구원의 본 저작물은 “공공누리 제3유형 : 출처표시 + 변경금지” 조건에 따라 이용할 수 있습니다. 저작권정책 참조

담당자
윤정애 전문연구원yoon0511@kdi.re.kr 044-550-4450
이 페이지에서 제공하는 정보에 대하여 만족하시나요?
네이버로그인
카카오로그인
보안문자 확인

무단등록 및 수집 방지를 위해 아래 보안문자를 입력해 주세요.

KDI 직원 정보 확인

담당자 정보를 확인해 주세요.

등록완료

소중한 의견 감사드립니다.

등록실패

잠시 후 다시 시도해주세요.

Join our Newsletter

매일 새로운 소식으로 준비된 KDI 뉴스레터와 함께
다양한 정보를 확인하세요.