• Land and Housing Review
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• v.2 no.4
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• pp.345-353
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• 2011

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.

• Korean Journal of Social Welfare Studies
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• v.49 no.3
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• pp.35-60
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• 2018

This paper investigates the effects of fiscal decentralization on public welfare finance, focusing that welfare status experienced a post-industrial society has proposed decentralization as a response. The decentralization includes local government responsibilities and expanded roles under the background of fiscal distress of center governments and new social risks. For the analysis, the first theory is established to find out the effect of fiscal decentralization on social expenditure. Also, the second theory is set up for the relationship between the level of fiscal decentralization and composition of social expenditure. Findings indicate that the level of social expenditure of state would decrease as the level of fiscal decentralization increases. Also, the more the level of fiscal decentralization increases, the more the in-kind benefits among total welfare expenditure increase.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.665-673
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• 2021

Default has become an extreme concern in the current world due to the financial crisis. The previous prediction of companies' bankruptcy exhibits evidence of decision assistance for financial and regulatory bodies. Notwithstanding numerous advanced approaches, this area of study is not outmoded and requires additional research. The purpose of this research is to find the best classifier to detect a company's default risk and bankruptcy. This study used secondary data from the Pakistan Stock Exchange (PSX) and it is time-series data to examine the impact on the determinants. This research examined several different classifiers as per their competence to properly categorize default and non-default Pakistani companies listed on the PSX. Additionally, PSX has remained consistent for some years in terms of growth and has provided benefits to its stockholders. This paper utilizes machine learning techniques to predict financial distress in companies listed on the PSX. Our results indicate that most multi-stage mixture of classifiers provided noteworthy developments over the individual classifiers. This means that firms will have to work on the financial variables such as liquidity and profitability to not fall into the category of liquidation. Moreover, Adaptive Boosting (Adaboost) provides a significant boost in the performance of each classifier.