{"title":"Comments on Default Probability by Employment Status in South Korea","authors":"Kwanho Shin","doi":"10.1162/asep_a_00788","DOIUrl":null,"url":null,"abstract":"Kwanho Shin, Korea University: As of the end of 2018, the ratio of household debt to GDP was 91.9 percent in Korea, much higher than in the United States or Japan. The household debt problem has been singled out as the most important threat to the stability of the financial system in Korea. Nevertheless, stress tests run by the Bank of Korea and other authorities conclude that financial intermediaries are resilient against even quite pessimistic scenarios. This paper, by investigating the factors behind the loan defaults of borrowers classified by their employment status, attempts to examine how fragile the financial system of Korea is.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":"19 1","pages":"88-89"},"PeriodicalIF":5.3000,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asian Economic Papers","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1162/asep_a_00788","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Kwanho Shin, Korea University: As of the end of 2018, the ratio of household debt to GDP was 91.9 percent in Korea, much higher than in the United States or Japan. The household debt problem has been singled out as the most important threat to the stability of the financial system in Korea. Nevertheless, stress tests run by the Bank of Korea and other authorities conclude that financial intermediaries are resilient against even quite pessimistic scenarios. This paper, by investigating the factors behind the loan defaults of borrowers classified by their employment status, attempts to examine how fragile the financial system of Korea is.
▽高丽大学教授申宽浩=以2018年末为基准，韩国家庭债务与GDP的比率为91.9%，比美国和日本高得多。家庭债务问题被认为是韩国金融体系稳定的最大威胁。然而，韩国央行(Bank of Korea)和其他权威机构进行的压力测试得出的结论是，金融中介机构即使在相当悲观的情况下也能保持弹性。本文通过对按就业状况分类的借款人贷款违约背后的因素进行调查，试图检验韩国金融体系的脆弱性。
期刊介绍：
The journal Asian Economic Papers (AEP) is supported by several prominent institutions, including the Center for Sustainable Development at Columbia University in the United States. This shows that there is a strong emphasis on sustainable development within the journal's scope. Additionally, the Korea Institute for International Economic Policy in South Korea, the UN Sustainable Development Solutions Network (SDSN) in Malaysia, and the Economic Research Institute for ASEAN and East Asia in Indonesia also sponsor AEP. The articles published in AEP focus on conducting thorough and rigorous analyses of significant economic issues pertaining to specific Asian economies or the broader Asian region. The aim is to gain a deeper understanding of these issues and provide innovative solutions. By offering creative solutions to economic challenges, AEP contributes to the discourse and policymaking that impact the Asian economies and region as a whole.
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