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역동성 제고를 위한 금융정책의 역할 : 진입·퇴출 활성화를 중심으로

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Title 역동성 제고를 위한 금융정책의 역할
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Sub Title

진입·퇴출 활성화를 중심으로

Material Type Reports
Author(Korean)

정대희; 장우현; 구자현; 남창우

Publisher

세종 : 한국개발연구원

Date 2016-12
Series Title; No 연구보고서 / 2016-13
Pages 250
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Industry and Technology < Entrepreneurship
Holding 한국개발연구원; KDI국제정책대학원
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Abstract

This study tries to examine policy direction for improving the dynamics of the Korean economy by analyzing how the financial policy of the government affects the entry and exit of enterprises. From the empirical analyses on the government’s role in the establishment and growth of enterprise and restructuring of insolvent company, we draw the following policy implications. First, it is necessary to strengthen the evaluation of policies, such as financial support to start-up companies and large restructuring firms, to reduce the social cost of 'government failure'. Government intervention through financial aid, though it has inevitable aspects due to market failure, can sometimes cause a consequence inferior to what would be observed under laissez-faire. Second, the incubating role of venture capital to start-ups should be strengthened because the analysis results indicate that the mentoring activity of venture capital to young firms actually increases the possibility of follow-up investment. (The rest omitted)