Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/320443 
Authors: 
Year of Publication: 
2025
Citation: 
[Journal:] KDI Journal of Economic Policy [ISSN:] 2586-4130 [Volume:] 47 [Issue:] 2 [Year:] 2025 [Pages:] 37-80
Publisher: 
Korea Development Institute (KDI), Sejong
Abstract: 
This study investigates whether Saitdol loans, a type of governmentguaranteed loan, were allocated to groups that would otherwise be unable to access the loan market without such a guarantee. To assess this, both non-parametric and parametric estimation methods, as proposed by Hendren (2013), were employed to examine the severity of information asymmetry between Saitdol loan borrowers and financial institutions, a potential cause of a market failure. The analysis results indicate that the information asymmetry between borrowers holding Saitdol loans and financial institutions was not severe enough to cause a market failure. This suggests that a significant number of Saitdol loans were allocated to borrowers who could have obtained loans from the private sector without government guarantees.
Subjects: 
Government Loan Guarantees
Household Loan
Mid-rate Loan
Asymmetric Information Pension
JEL: 
D82
G14
G51
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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