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The poor or the vulnerable? : Tracking the targets of private and public transfers before and during the financial crisis in Korea

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  • The poor or the vulnerable?
  • Jimenez, Emmanuel; Kang, Sung Jin; Sawada, Yasuyuki
  • The Association of Korean Economic Studies


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Title The poor or the vulnerable?
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Sub Title

Tracking the targets of private and public transfers before and during the financial crisis in Korea

Material Type Proceedings
Author(English)

Jimenez, Emmanuel; Kang, Sung Jin; Sawada, Yasuyuki

Publisher

[Seoul, South Korea]:The Association of Korean Economic Studies

Date 2002-06
Pages 27
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Social Development < General
Holding Kar-yiu Wong website

Abstract

Using Korean balanced household panel data during 1995-1998, this paper investigates the inter-relationship between private and public transfers. One of the key findings is that the estimation results by a seemingly unrelated bivariate probit model show that private and public transfers are shown to be jointly determined before the crisis but not during the crisis. On the other hand, univariate probit estimation results show a crowding-in effect of public transfers before the crisis whereas a strong crowding-out effect is found when the endogeneity of public transfers is considered. The results also suggest that private transfers were altruistically motivated before the crisis, although the transfer network seems to have been collapsed by the financial crisis. Furthermore, it is shown that private and public transfers might have been well targeted only to the poor but not to the vulnerable. Thus, the Korean government should reconsider its targeting scheme in order to prevent crowding-out effects. (The rest omitted)

User Note

For First Annual Conference of the AKES, July 21-22, 2002.