ScholarWorks@숙명여자대학교

초록

A rapid increasing in household debts has been a potential risk factor in Korean economy. Borrowing is important because it resolves the discrepancy between consumption and income, and also helps achieve financial goals at each stage of one’s life cycle. In this regard, credit constraints arise the problem of market failure that households cannot satisfy their needs for credits in the markets. Then, it remains for the government to consider its stance on how to deal with the problem. This study aims to examine the characteristics of Korean households’ demand for debts and its influential factors. Also, this study will estimate the probability of being credit constrained according to age, education attainment, household size, income, net worth, home ownership, etc. Doing so will provide an understanding of Korean credit markets and policy implications for enhancing micro-finance for the benefits of alienated or vulnerable financial consumers.

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