• 제목/요약/키워드: Government Stability

검색결과 348건 처리시간 0.026초

Effects of Fiscal Instability on Financial Instability

  • HWANG, SUNJOO
    • KDI Journal of Economic Policy
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    • 제44권3호
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    • pp.49-74
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    • 2022
  • This paper empirically examines how fiscal instability affects financial instability. According to an IMF forecast (2021a), the fiscal space in Korea will be steadily reduced in the future. The theoretical literature predicts that if fiscal stability is undermined, financial stability will also be in danger given that government guarantees on banks are weakened and/or sovereign bonds held in banks become riskier. This paper empirically finds the existence of this negative impact of fiscal instability on financial instability. I also find that the intensity of this fiscal-financial relationship is greater in a country where (i) its currency is not a reserve currency such as the US dollar or euro, (ii) its banking sector is large relative to government sector, and/or (iii) its private credit to GDP is high. Korea has all of these three characteristics and hence needs to put more effort into maintaining fiscal stability.

Financial Liberalization, Government Stability, and Currency Crises - Some Evidence from South Korea and Emerging Market Economies

  • Chiu, Eric M.P.
    • Journal of Korea Trade
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    • 제23권5호
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    • pp.129-144
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    • 2019
  • Purpose - Recent empirical studies have reached mixed results on the effects of financial liberalization and currency crises. We argue that this relationship is likely to depend both on whether controls are primarily on the degrees of financial liberalization and on the stability of the government. Using the disaggregated data on financial liberalization recently developed by Abiad et al (2010) for a sample of 30 emerging countries over the period 1995-2015, we attempt to investigate the political economy determinants of currency crises. Design/methodology - Our empirical model considers the relationship between financial liberalization and currency crises for emerging market economies. This study employs the existing theoretical framework to identify the disaggregate level for financial liberalization across countries. Using a multivariate logit model, this study attempts to estimate the interrelationship among financial liberalization, government stability and currency crises complemented by a case study of South Korea. Findings - Our main findings can be summarized as follows: we find strong support for the proposition that more liberalized financial institutions are positively associated with the probability of currency crises especially under less stable governments, but reduce the risks of currency crises especially for more stable governments. We also examine the role of financial systems with the case of South Korea after Asian financial crises and the results are further supported and consistent with the empirical findings. Originality/value - Existing studies focus on the economic factors across countries. This paper instead attempts to evaluate the effects of financial liberalization and currency crises by incorporating political considerations with newly developed dataset on financial liberalization, which are essential to the understanding of the causes of currency crises.

A Study on the Improvement of Youth Housing Support Policy

  • KIM, Sun-Ju
    • 산경연구논집
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    • 제11권11호
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    • pp.29-38
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    • 2020
  • Purpose: The problem of housing poverty among young people is a very important problem for the nation. Therefore, the main purpose of this paper is to identify the problems of the government's housing support policy for young people. And it is in presenting specific solutions by fully reflecting the opinions of experts. Research design, data and methodology: This study consisted of analyzing the following three research topics: 1) the differences of youth residential support housing policy impact on young adults' housing stability, 2) the problems and solutions of youth housing support policy, and 3) the differences of experts' opinions on the impact of government policy on youth housing stability. The subject of this study is the government's seven housing policies for young people. The targets include Happy Public Rental Housing (Happiness Housing), Station Area Rental Housing for youth (Station Area 2030), Public Dormitory for College Students (Public Dormitory & Hope Dormitory), Jeonse Rental Housing for College Students (Subject Lease Rental Housing for College Students), Social Housing for Young People, and Share House. The data was organized through expert surveys from 1st to 30th June 2020. The experts surveyed include professors & researchers, public officer & public institutions staff, and private developers of young adults' housing. The methodology of analysis on the problem and the solution of government policy was Frequency analysis. And analysis methods on differences of experts' opinion were ANOVA, Levene' test, and Schefe test. Results: Problems in Government's youth residential support housing policy include high rents, lack of supply, difficulty in acquiring rental housing, inconvenience in using shared spaces, conflicts with cohabitants, and invasion of privacy. Solutions include expanding supply to urban areas, establishing long-term plans, securing privacy, diversifying business methods, establishing platforms for rental housing transactions, and expanding various public support (financial support, etc). Conclusions: There was a difference in perception among groups of experts on the impact of public rental housing (called 'happiness housing') in youth housing stability. It is very urgent to come up with the most reasonable policy to support youth housing. This requires in-depth discussions by experts to narrow their differences.

SOLUTION AND STABILITY OF AN n-VARIABLE ADDITIVE FUNCTIONAL EQUATION

  • Govindan, Vediyappan;Lee, Jung Rye;Pinelas, Sandra;Noorsaba, Abdul Rahim;Balasubramanian, Ganapathy
    • Korean Journal of Mathematics
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    • 제28권3호
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    • pp.613-621
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    • 2020
  • In this paper, we investigate the general solution and the Hyers-Ulam stability of n-variable additive functional equation of the form $${\Im}\(\sum\limits_{i=1}^{n}(-1)^{i+1}x_i\)=\sum\limits_{i=1}^{n}(-1)^{i+1}{\Im}(x_i)$$, where n is a positive integer with n ≥ 2, in Banach spaces by using the direct method.

A GENERALIZED APPROACH OF FRACTIONAL FOURIER TRANSFORM TO STABILITY OF FRACTIONAL DIFFERENTIAL EQUATION

  • Mohanapriya, Arusamy;Sivakumar, Varudaraj;Prakash, Periasamy
    • Korean Journal of Mathematics
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    • 제29권4호
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    • pp.749-763
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    • 2021
  • This research article deals with the Mittag-Leffler-Hyers-Ulam stability of linear and impulsive fractional order differential equation which involves the Caputo derivative. The application of the generalized fractional Fourier transform method and fixed point theorem, evaluates the existence, uniqueness and stability of solution that are acquired for the proposed non-linear problems on Lizorkin space. Finally, examples are introduced to validate the outcomes of main result.

한국의 국가채무 현황과 구성요인 분석 (The Analysis of the current state and components of Korea's National Debt)

  • 양승권;최정일
    • 디지털융복합연구
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    • 제18권9호
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    • pp.103-112
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    • 2020
  • 본 연구의 목적은 한국의 국가채무의 구성요소와 각 구성요소가 국가채무에 미치는 영향을 살펴보는데 있다. 통계청 국가통계포털에서 국가채무를 구성하는 요소로 일반회계 적자보전, 외환시장 안정용, 서민주거 안정용, 지방정부 순채무, 공적자금를 선정하여 검색하였다. 분석기간은 1997년부터 2019년까지 총 23개 연간자료를 이용하였다. 본 연구에서 정리한 자료는 각 구성요소별 전년대비 변동률을 이용하고 있다. 이를 이용하여 본 연구는 지표분석, 수치분석과 모형분석을 시도하였다. 상관분석결과 국가채무는 외환시장안정용, 공적자금 등, 서민주거안정용과 높은 관계를 보이고 있으나 지방정부순채무와는 무관한 관계로 나타났다. 국가채무는 지난 1997년 이후 외환시장안정용과 공적자금 등, 서민주거안정용과 동조화현상을 보이며 지속적으로 증가해 왔다. 2020년도 이후에는 코로나19로 인한 재난지원금 증가로 서민주거안정용과 공적자금 등에서 크게 증가할 것으로 예상되고 있다. 세계적으로 경제상황이 어려운 시점에서 우리나라도 국가재난 지원금의 사용으로 국가부채가 크게 증가할 것으로 보이지만 가능한 경제성장과 금융시장 안정을 위해 효율적으로 운용되기를 기대하고 있다.

MEAN SQUARE STABILITY IN A MODIFIED LESLIE-GOWER AND HOLLING-TYPE II PREDATOR-PREY MODEL

  • Pal, Pallav Jyoti;Sarwardi, Sahabuddin;Saha, Tapan;Mandal, Prashanta Kumar
    • Journal of applied mathematics & informatics
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    • 제29권3_4호
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    • pp.781-802
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    • 2011
  • Of concern in the paper is a Holling-Tanner predator-prey model with modified version of the Leslie-Gower functional response. Dynamical behaviours such as stability, permanence and Hopf bifurcation have been carried out deterministically. Using the normal form theory and center manifold theorem, the explicit formulae determining the stability and direction of Hopf bifurcation have been derived. The deterministic model is extended to a stochastic one by perturbing the growth equation of prey and predator by white and colored noises and finally the mean square stability of the stochastic model systems is investigated analytically. An extensive quantitative analysis has been performed based on numerical computation so as to validate the applicability of the proposed mathematical model.

서울시 요양보호사 처우개선을 위한 지원방안 연구 (A study on the Improvement of Welfare System for Care Worker in Seoul)

  • 김지혜;김석준;이준영;이옥진;오가영
    • 의료ㆍ복지 건축 : 한국의료복지건축학회 논문집
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    • 제17권4호
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    • pp.15-23
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    • 2011
  • Long-term care Insurance system for the Elderly was started to respond to the aged society on July 2008 in Korea. So responsibility of the care for the old is being changed from the family to the society. The introduction of that insurance system has brought the growth of demand for care service. To improve the level of quality for care service providers in long-term care, the role of care worker in providers is recognized as important. But welfare system for the care worker seems to be poor. So the Seoul Metropolitan Council is preparing an ordinance for the care worker and the purpose of this study is for the ordinance as well. Questionnaires, interviews, documentary surveys were used to carry out this study. The results of this study are summarized as follows. The job stability is the most important thing for the care worker, so local government has to make efforts to promote the job stability of care worker. A welfare center for care workers is needed for the health for care workers in the local government. And the local government has to supervise service providers more strictly and evaluate them in treatments of care worker.

ICT 중소기업 정책융자금 수요와 지원기업 성공사례 연구 : ICT 융자사업 중심으로 (Demand on Government Sponsored Loan and Successful Case Study on ICT SMEs : Focused on 'ICT Government Sponsored Loan Project')

  • 고경일
    • 한국융합학회논문지
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    • 제8권1호
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    • pp.213-220
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    • 2017
  • 본 연구는 ICT 분야 중소기업을 대상으로 유일하게 융자금을 지원하고 있는 ICT 융자사업 수혜기업을 대상으로 정책융자금에 대한 전반적인 수요조사를 실시하였으며, 특정 수혜기업을 대상으로 융자지원 받은 기술개발과제의 연구배경 및 연구성과, 파급효과, 기대효과, 에피소드 등을 살펴봄으로써 융자금 지원이 실제적으로 얼마나 ICT 중소기업의 기술적 경제적 성과 제고에 도움을 주고 있는가를 보여주고 있다. 실제로 ICT 분야의 중소기업들은 더 많은 규모의 정책융자금을 요구하고 있으며, 안정적인 자금조달이 기술개발 성공의 핵심요인이자 가장 어려운 과제라는 응답결과를 보여주고 있다. 결과적으로, 기술경쟁력을 지닌 ICT 중소기업들의 기술개발 필요자금을 융자해 주고 나아가 개발된 기술을 사업화함으로써 영세한 기업재정의 건전성을 회복할 수 있는 자금지원 정책을 마련할 필요가 있음을 시사해 주고 있다.