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자료유형
학술저널
저자정보
저널정보
한국지역학회 지역연구 지역연구 제13권 제1호
발행연도
1997.6
수록면
43 - 66 (24page)

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The purposes of this study are, first, to examine the presence of the regional differences of the financial market in Korea especially focusing on those between Seoul and the other regions, and second, to elucidate the existence and characteristics of regional financial markets segmented from the national financial market by way of analyzing factors and channels to generate them. Seoul and the Taegu Area, which includes the City of Taegu and its surrounding Kyongbuk Province, have been selected as sample areas representing financial core and periphery, respectively. In order to accomplish these purposes, a review of the related literature has been made, and a theoretical framework for the study has been built. Some operational definitions have been made : ①the concept of "regional differences of financial markets has been adopted as being broadly applied to the cases that regional differences occur in the indicators which represent financial market equilibrium, ②the concept of ``regional financial market,, has been defined as being applied to the cases that the mechanism of determining financial market equilibrium exists endogenously in the subnational boundary. As the criteria to test the existence and characteristics of regional financial market, alternative models of regional financial market have been reviewed. These are classified into ①perfect integration type, ②interest spread type, ③credit rationing type, ④interest spread-credit rationing-jointed type. From these, ①interest spread, ②credit rationing, ③degree of funds concentration have been adopted as the criteria to, elucidate the presence of the regional differences of financial market in Korea, and again the first two have been adopted as the criteria to elucidate the existence and characteristics of regional financial market. Quantitative methods such as statistical data analysis and t-test, as well as qualitative methods such as interview data analysis have been used. The data for this study were obtained from diverse sources including secondary statistical data, internal aggregated data from financial institutions and first-hand data from questionnaire and interview surveys to financial institutions and firms. The results of the study are summarized as follows. First, regarding the presence of the regional differences of the financial market in Korea, first of all, an investigation of `loaned money ratio by region` data and so on, shows that Seoul lies in the financial core, and the other regions lie in the financial peripheries in Korm. For more details, examining the presence of the regional differences using the criterion of `interest spread`, we do not find any coherent differences between regions. By the criterion of `degree or funds concentration`, however, we find the patterns that more funds are concentrated in Seoul relative to its producing capacity, and by the criterion of `credit rationing`, that debtors of the other regions are experencing more credit rationing than those of Seoul. Accordingly, we can identify that the regional differences of financial market occur between Seoul as a financial core and the other regions as financial peripheries. Second, regarding the presence of the regional differences of the, financial market between Seoul as a financial core and the Taegu Area as a financial periphery, first of all, an examination of the spatial boundaries of financing by firms and financial institutions assures that Seoul and the Taegu Area are appropriate regional divisions as case regions in which financial transactions are made. Thus, by the criterion of `interest spread`, coherent differences between firms of each region do not exist. By the criterion of `credit rationing`, however, we find that small and medium-sized firms of the Taegu Area are suffering more credit rationing than those of Seoul. Moreover, by analyzing indicators about channels of credit rationing, we find three regional factors, ①difference in the limitation

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