• Journal of Digital Convergence
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• v.19 no.12
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• pp.273-280
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• 2021

The purpose of this study is to provide implications for fiscal policy by comprehensively examining the relationship between the on-campus retention and university soundness items of four-year private universities in the context of financial contraction of private universities due to suppression of tuition increase. Multiple regression analysis was performed to analyze the correlation of variables and the effect of financial soundness items on accounting indicators using SPSS 25. First, private university's on-campus reservations had an effect on accounting index items. Second, financial soundness items had an effect on accounting index items. Third, the financial condition factors influenced the change of accounting index by the location of the university. Fourth, according to the size of students, financial conditions had an effect on the change in accounting indicators. Government investment and support for private universities should be changed to a paradigm of securing finance through establishment of a development plan, rather than financial support through reduction of quota, and survival should be sought through income diversification policy strategies.

• Journal of the Economic Geographical Society of Korea
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• v.17 no.3
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• pp.554-566
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• 2014

This paper analyses the relationship between regional economic power defined as GRDP per capita and various socioeconomic variables such as fiscal variables(revenue, expenditure, etc.) as well as nonfiscal variables(population, ratio of old population, unemployment rate, dependency ration) using the pooling data of 16 local governments from 1998 to 2012. To put it concretely, following the Granger causality test, regression analysis has been done with the regional economic power being the dependent and variables which have either one or two direction causality being independent variables. And test of cumulative effects has been done with variables showing statistical significance in the regression analysis. Local tax revenues per capita, expenditures of social development per capita and median age have positive effects, while dependency ratio has negative effect on regional economy. And national subsidy per capita, local tax revenues per capita, expenditures of social development per capita and median age all have cumulative effects on regional economy.

• KDI Journal of Economic Policy
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• v.17 no.4
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• pp.97-141
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• 1995

본고(本稿)는 우리 경제의 개방화(開放化) 자율화(自律化) 추세 속에서 거시경제정책수단(巨視經濟政策手段)으로서의 재정정책(財政政策)의 기능과 역할에 대해 다음의 두가지 방안을 제시하고 있다. 첫째로, 분기별(分期別) 통합재정통계(統合財政統計)를 이용한 실증분석 결과에 기초해서 안정적 경제운영(經濟運營)에 있어서 통합예산관리(統合豫算管理)의 중요성을 강조하였다. 분석결과, 기존의 연간자료를 이용한 분석에서 밝혀진 바와 같이 물가 상승률과 재정적자 변수간에 정(正)의 상관관계가 존재하는 것으로 나타났으며, 총통화 변수와 재정수지(財政收支)를 포함하는 물가상승률의 추정식 결과를 이용해서 단기적인 통화(通貨) 재정변수(財政變數)의 적정조합을 모색해 볼 수 있다. 다른 조건이 일정하다면 연간 총통화 증가율 1%포인트와 재정적자(財政赤字)의 대(對)GNP 비율 1%포인트 증가가 평균적으로 비슷한 정도의 물가압력을 낳는 것으로 나타난다. 둘째로, 효율적인 거시경제운영(巨視經濟運營)을 위해 요구되는 재정의 보다 근본적인 역할재정립 방향에 대해서 논의하였다. 해외자본유입(海外資本流入) 등에 대비하기 위해서는 신축적인 통화관리여건이 조성되어야 하고, 이를 위해서는 한은대출에 의한 정책금융 지원분의 재정이관 문제가 보다 적극적 전향적으로 검토되어야 한다. 총액한도대출대상 정책금융 중 지방중소기업자금의 이관문제가 검토되어야 하며, 상업어음할인, 무역금융, 소재 부품생산자금의 경우 기존의 중소기업지원관련 기금에 대한 출연을 확대해서 단기운전자금의 대출 등을 담당하게 하는 방안을 검토할 필요가 있다. 또한 총액한도대출대상 정책금융이 중소기업에 대한 지원인 점을 감안할 때, 중소기업부문(中小企業部門)에 대한 재정지원체계(財政支援體系)를 금리자유화 일정 등을 감안하여 종합적으로 정비함으로써 총액대출한도의 축소를 유도하는 역할을 재정이 담당해야 할 것이다.

• KDI Journal of Economic Policy
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• v.29 no.2
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• pp.1-40
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• 2007

This paper mainly estimates a trajectory of GDP induced by variations in fiscal expenditure and taxation policy using three variable structural VAR models. By assigning different combinations of identifying restrictions on the disturbances and measuring the corresponding fiscal multipliers, we compare how robust the estimated values of fiscal multipliers are with respect to the restrictions. Then, considering the dependency of Korean economy on the foreign sector, we extend the three variable SVARs to four variable ones by adding a variable reflecting external shocks. Empirical analyses into the Korean quarterly data (from 1979 to 2000) with the three variable SVARs reveal that the size and the significance of the estimated fiscal multipliers in Korea are very small and low or they decay very fast. Results from the four variable SVARs confirm these results while the significance of the effectiveness of fiscal policy is enhanced in some cases.

• KDI Journal of Economic Policy
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• v.33 no.3
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• pp.163-209
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• 2011

This study empirically analyzes whether political rent-seeking behavior exits in Korea. The empirical analysis shows that there is a cyclical decline in aggregate revenue immediately following the election year. However, when using other aggregate fiscal variables including aggregate revenue, fiscal balance, tax and public burden ratio, no such cyclical deterioration are found. By sector, the expenditures of the economic affairs show a cyclical increase in the year right after the election. In addition, as the ratio of ruling party senators to total senators is high, the expenditures of the economic affairs tend to increase more and this tendency becomes more stronger right after the presidential election year. Such a result turns out to be consistent even when the expenditure was analyzed separately from the mandatory and discretionary expenditures by sector. This is a testimony to the existence of political rent-seeking behavior in Korea.

• Proceedings of the Safety Management and Science Conference
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• 2008.11a
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• pp.87-99
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• 2008

우리는 정부의 재정지출이 주가와 콜금리 및 회사채, 산업생산 등에 미치는 영향에 대하여 분기별 데이터를 사용하여 분석하였다. 선행연구들을 살펴보면, 미국의 경우 1960년부터 2000년 기간사이에서 GDP에서 차지하는 조세징수액의 1% 표준편차 (standard deviation) 상승이 분기별로는 4% 그리고 연간 9%의 기대수익률(연율 기준) 을 낮추는 영향을 미쳤음을 알 수 있다. 한국의 경우 미국의 선행연구에서와 비슷하게 재정정책과 통화정책의 변수를 동시에 사용하였을 경우 재정정책과 통화정책변수 모 두 코스피수익률보다는 회사채수익률과의 연관성이 더 높음을 알 수 있다.

• Journal of the Korean Regional Science Association
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• v.32 no.3
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• pp.45-62
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• 2016

The main purpose of this study is to investigate whether the gap of fiscal self-sufficiency rates of 16 provincial governments in Korea has been narrowed and to suggest some remedies based on the empirical results. The panel data set from 1998 to 2013 is used and pooled OLS and system GMM regression techniques are employed. The fiscal self-sufficiency rates show downward trend and ${\beta}-convergence$ exists in absolute and conditional convergence analysis. The speed of conditional convergence anlysis is proved to be faster than that of absolute analysis. Both metropolitan cities and prefectures show convergence of fiscal self-sufficiency rates. We have found out that in the case of metropolitan cities, the proportion of workers in the tertiary industry has positive effect on fiscal self-sufficiency rates and in the case of prefectures number of cars per capita has positive effect. And in both cases increase in old population has negative effect.

• Journal of the Economic Geographical Society of Korea
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• v.20 no.1
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• pp.84-104
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• 2017

In this study, we divided Gyeonggi-do into Northern, Southern, Western, and Eastern Parts and found out fiscal variables which affected regional economic growth of each Part differentially. And we drew the strategy for economic growth of each Part. After we found out the variables which affected regional economic growth using fixed-effect model, we carried out causality test to determine whether a specific fiscal variable caused economic growth. In the Eastern Part, local tax revenues had a significant effect on the economic growth. Total expenditures, current expenditure in the Southern Part and social welfare expenditure, expenditure on industries, current expenditure in the Northern Part had noticeable effects on economic growth respectively. And we calculated multipliers of fiscal variables to compare the magnitudes of effects among these Parts.

• The Journal of the Korea Contents Association
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• v.13 no.2
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• pp.235-243
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• 2013

This study analyzes the interaction of variables consisting of the local finance system based on the theory of system thinking regarding how financial decentralization can be understood as the political means for local decentralization and why it is needed. The results gained from this research are as follows: first, variables consisting of the local finance system form interactional relationship in the significant level, and it has been found that rapid growth and rapid decline repeat with five positive feedback loops as the center. Second, strategic points for the validity of local finance decentralization were discovered through causal map modeling. In particular, it has been shown that the virtuous cycle structure declines the local finance system through the constant operation of variables (government subsidies, taxation for real estate transactions, central government's local finance mediation system, and local government debt, etc.) that deteriorate the vicious cycle structure. Based on this, strategic policy tasks were drawn. It is expected that this study will help the understanding of the local finance system and increase academic width for local finance from the aspects of general knowledge, not the knowledge about local finance decentralization.

• KDI Journal of Economic Policy
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• v.10 no.2
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• pp.3-26
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• 1988

본(本) 연구(硏究)의 목적(目的)은 우리나라의 1963~86년도 자료를 사용하여 소비(消費) 및 가계저축함수(家計貯蓄函數)를 추정함으로써 가계(家計), 기업(企業), 정부저축(政府貯蓄) 등 세 부문의 저축(貯蓄) 사이에 어떠한 관계, 즉 어느 정도의 대체관계(代替關係)가 있는가를 판별하고 정부저축(政府貯蓄)과 정부재정지출(政府財政支出) 등의 변수(變數)로 표시되는 재정정책(財政政策)의 구축효과(驅逐效果)와 이에 따른 재정정책(財政政策)의 유효성(有效性) 혹은 무력성(無力性) 문제(問題)를 분석하고자 함에 있다. 본(本) 연구(硏究)의 분석결과에 의하면 기업저축(企業貯蓄)과 정부저축(政府貯蓄)은 가계저축(家計貯蓄)과 대체관계(代替關係)가 아닌 보완관계(補完關係)를 갖는 것으로 나타난다. 이는 일국전체(一國全體)의 자본형성(資本形成)에 있어서 기업(企業) 및 정부저축(政府貯蓄)이 매우 중요한 정책변수(政策變數)임을 시사하는 것으로 가계저축율(家計貯蓄率), 나아가 국내저축율(國內貯蓄率)의 제고(提高) 및 유지(維持)를 위해 기업저축증대(企業貯蓄增大)를 위한 제반유인정책(諸般誘因政策)을 꾸준히 강화하고 정부저축증대(政府貯蓄增大)를 위한 효율적이고 건전한 재정운용(財政運用)이 지속되어야 할 것이다. 한편 정부재정지출(政府財政支出)은 적자(赤字)에 의하는 조세(租稅)에 의하든 민간소비(民間消費)를 큰 폭으로 증가시키는 것으로 나타나 가계(家計)의 초합리성가설(初合理性假說)이나 완전(完全)한 선견가설(先見假說)이 상정하는 바와 같이 재정정책(財政政策)의 완전(完全)한 구축효과(驅逐效果)가 나타남에 따른 재정정책(財政政策)의 무력성(無力性) 결과(結果)와 대조적으로 우리나라의 재정정책(財政政策)이 그동안 경제안정(經濟安定)을 위한 강력한 정책수단(政策手段)으로서의 역할을 수행해 왔음을 보여주고 있다.