성인지 조세제도 도입에 관한 소고

이인실 ( Insill Yi ) 한국여성경제학회 2017 여성경제연구 Vol.14 No.1

한국의 성적 불균형 및 불평등 현상을 완화하고 한국경제가 당면한 저출산 문제를 극복하는 방법의 하나로 성인지 조세제도(GBT: Gender Based Tax System)의 도입을 제안한다. 여성의 탄력적 노동 공급에 더 낮은 세율이 부과되도록 하는 GBT는 램지의 최적조세규칙을 충족시킨다. 획기적으로 도입된 양성평등관련 각종 법 제도 정책에도 불구하고 저조한 여성경제활동 참여율과 높은 성별 임금격차를 극복할 대안으로 노동공급 탄력성이 가정 내에서 교역과 시간의 교섭으로부터 내재적으로 출현하도록 하는 GBT 도입을 검토해 볼 필요가 있다. It suggests the introduction of the Gender Based Tax System (GBT) as one of the ways to alleviate sexual inequality and inequality in Korea and to overcome the low birth rate problem faced by the Korean economy. GBT, which allows lower tax rates to be imposed on women`s resilient labor supply, meets Ramsey`s optimal tax rule. It is necessary to examine the introduction of GBT, which allows labor supply elasticity to emerge from the negotiation of trade and time in the home, as an alternative to overcome gender wage gap and low female labor force participation rate.

금산분리 완화의 논거

이인실(Insill Yi),남주하(Joo-Ha Nam) 한국경제연구학회 2008 한국경제연구 Vol.23 No.-

산업자본과 금융자본의 관계설정은 금융시장 및 경제발달과정과 밀접한 연관을 가지면서 국가마다 다양한 형태로 변모ㆍ발전해 왔다. 우리나라는 특히 특유의 산업발전과정을 거치면서 특유의 금융자본과 산업자본을 분리하는 정책(이하 금산분리)을 적용해 왔다. 금산분리가 세계적으로 일반적인 현상은 아니며 유럽의 경우는 금산결합문제의 중요성을 강조하기보다는 복합금융그룹의 감독개선 과정에서 자산 및 자본 규제에 대한 금융권역 간 규제감독 수렴, 통합의 필요성을 강조하는 추세이다. 사금고화 우려, 이익상층 가능성, 경영효율성, 공정경쟁 및 금융시스템의 안정성 저해 등의 금산분리 완화의 문제점은 금산분리만의 문제는 아니며 금융산업 발전과 자원의 효율적 배분차원에서 개선ㆍ보완해 나가야 할 문제이다. 1993~2006년까지의 155개 불균형 패널자료를 사용한 실증적 분석결과 우리나라 은행의 경우 지배주주가 존재하는 소유구조가 중소기업 대출과 같은 금융중개 효율성과 건전성 및 위험관리에 긍정적인 영향을 준다는 것을 보여 주고 있다. 금산분리 완화를 통해 국내에서만 고민할 것이 아니라 실질적으로 민영화된 세계적인 금융회사를 만들어 낼 수 있도록 해야 한다. 현단계에서는 규제완화에 맞추어 금융감독의 기능ㆍ역량을 강화하는 등 보완장치를 마련해 가면서 금산분리 완화를 단계적으로 시행하는 것이 바람직하다. Regulations on separating finance and commerce have been changed with the economic development and enlarged to not only banks but also non-bank financial institutions. This paper argues logical foundations of separating regulation in Korea. Strict Separation of Commere and Finance such as in U.S. is not a general phenomenon. European regulation which has the same common law system, prevalence of holding groups emphasizes the importance of capital adequacy for both stand-alone and group levels. This paper shows the positive relationship between bank ownership and profitability, soundness, and risk management in Korean bank by using 155 disequilibrium panel data from 1993 to 2006. Problems, such as fund abuse of bank owner for private purpose, conflicts of interests, management efficiency, and impediment of fair competition and financial stability, can be raised under the non-separation of commerce system and finance as well as under separation of commerce and finance system. Easing the separation regulation gradually need to be examined and promoted with strengthening the capability of financial supervisory regulation.

우리나라 은행 자본규제의 유효성

이인실(Insill Yi) 한국경제연구원 2000 한국경제연구원 연구보고서 Vol.2000 No.-

This paper reviews the various theories and empirical evidence of the effectiveness of capital regulations on Korean commercial banks. The effectiveness of capital regulations on banks has been the subject of several careful studies for a long time. There is a body of research that incorporates the option pricing, state preference, mean variance and agency theoretic models. This body of research is theoretical and shows contradictory conclusions about whether the risk-taking behavior of banks is effectively constrained by either private incentives or regulatory requirements. Furthermore, there is virtually no research done on how Korean commercial banks behave with respect to observed changes in capital and risk. Recently, many scholars have tried to find empirical evidence on the impact of the 1988 Basle Accord. It is generally accepted that the adoption of fixed minimum capital requirements led some banks to mamtain higher capital ratios than would otherwise have been the case. This study also investigates the empirical relationship between changes in risk and capital in Korean commercial banks. The results of the study offer evidence on regulatory effectiveness and the role of implict deposit insurance by Korean financial regulatory authorities in influencing bank capital and risk decisions. The quarterly data obtained from commercial banks' balance sheets is used to analyze the relationship between changes in risk and capital over the period from 1990 to 1998. A simultaneous equation estimation, adopting Schrieves and Dahl(l992)'s model, is used to analyze the adjustments to bank capital and risk levels. A pcositive association between changes in risk and capital is found. The existence of such a relationship in Korean commercial banks with capital ratios in excess of regulatory minimum levels suggests that Korean bank managers' private incentives may work to constrain total risk exposure.

법인세제 개편방향에 관한 연구

이인실(Insil Yi),김성태(Sung Tai Kim),안종범(Chong-Bum An),이상돈(Sang Don Lee) 한국경제연구원 2002 규제연구 Vol.11 No.1

Globalization of economic environment has accelerated the international tax competition among countries. In particular, globalization in the international capital market makes major countries lower the statutory tax rate on capital income, in order to induce capital the international financial market. Reform of the corporate income taxation is becoming one of the key subjects to raise the national competition in the international economy. In Korea, there are tax reform efforts relating to corporate income taxation to meet the international trends several times. The statutory corporate income tax rate has been lowered. The various reductions and exemptions relating to corporate income taxation have been consolidated. However, Korean corporate income tax system has been outdated, compared With fast moving international economic environment. The motivation of this study is to find out the right direction of the Korean corporate income tax reform. The discussions on Korean corporate income tax reform have been lop-sided to the qualitative analysis of tax reform appropriateness. There are not much studies explaining how corporate income tax affects the income distribution by classes and production in each industry. Using the Korea Computable General Equilibrium (KOCGE) model, we try to analyze quantitatively the effect of corporate income tax reduction on the production in 25 industries respectively and over all and on the welfare of the economy. According to the simulation results using the KOCGE model, Korean corporate income tax system should be reformed to strengthen the tax base and constitution of Korean economy. One of the way to improve the welfare and efficiency of the economy is to lower the statutory corporate income tax rate and reduce the government expenditure simultaneously, under the equal tax revenue constraints. Korean government lowered the statutory corporate income tax rate by 1%p in 2001. However, our simulation result shows that there still be a room to lower an extra 4~5% of the statutory corporate income tax rate, to improve both efficiency and income distribution.

법인세제 개편방향에 관한 연구

이인실(Insil Yi),김성태(Sung Tai Kim),안종범(Chong-Bum An),이상돈(Sang Don Lee) 한국경제연구원 2002 규제연구 Vol.11 No.2

Globalization of economic environment has accelerated the international tax competition among countries. In particular, globalization in the international capital market makes major countries lower the statutory tax rate on capital income, in order to induce capital the international financial market. Reform of the corporate income taxation is becoming one of the key subjects to raise the national competition in the international economy. In Korea, there are tax reform efforts relating to corporate income taxation to meet the international trends several times. The statutory corporate income tax rate has been lowered. The various reductions and exemptions relating to corporate income taxation have been consolidated. However, Korean corporate income tax system has been outdated, compared With fast moving international economic environment. The motivation of this study is to find out the right direction of the Korean corporate income tax reform. The discussions on Korean corporate income tax reform have been lop-sided to the qualitative analysis of tax reform appropriateness. There are not much studies explaining how corporate income tax affects the income distribution by classes and production in each industry. Using the Korea Computable General Equilibrium (KOCGE) model, we try to analyze quantitatively the effect of corporate income tax reduction on the production in 25 industries respectively and over all and on the welfare of the economy. According to the simulation results using the KOCGE model, Korean corporate income tax system should be reformed to strengthen the tax base and constitution of Korean economy. One of the way to improve the welfare and efficiency of the economy is to lower the statutory corporate income tax rate and reduce the government expenditure simultaneously, under the equal tax revenue constraints. Korean government lowered the statutory corporate income tax rate by 1%p in 2001. However, our simulation result shows that there still be a room to lower an extra 4~5% of the statutory corporate income tax rate, to improve both efficiency and income distribution.

우리나라 일반은행의 생산효율성 분석과 정책적 의미

박승록(Seung-Rok Park),이인실(Insill Yi) 한국경제연구원 2001 한국경제연구원 연구보고서 Vol.2001 No.-

Korean commemal banks are now beginning to show some signs of progress followmg the massive restructuring efforts as evident by the recent addition of 40 million Won over and above the 100 million Won of public money already spent. Problematic banks such as the Hanvit Bank are currently undergoing restructuring and have made a new start under the umbrella of a bank holding company. The relatively healthier banks such as Kookmin Bank and Housing and Commercial Bank have also announced a merger schedule with further steps to establish the next succeedmg arrangement. In general, restructuring among the remaining banks is currently under regular discussion. There have been only a few empirical studies, many of which touch on a narrow range of issues, which investigate into the efficiency of Korean commercial banks. Nevertheless, these have not been used to suggest plausible directions to restructuring the bankinng sector, particularly emphasizing, in general, ways to compete agamst internatlonal banks and to improve international competitiveness. However, without a comprehensive analysis of the existence of economices of scale, the mergers and acquisition activities, among banks as a viable form of restructuring to be promoted by the government cannot be justified. In this paper, we measure the production efficiencies of Korean commercial banks and compare them to each other. The DEA (Data Envelopment Analysis) method is applied in our analysis. We find that although it may be more difficult to find a merging partner, M&A among banks with similar production technologies would push the economy closer to the socially attainable production frontier. The production efficiency of Korean banks will be improved for those banks wilshing to merge, as well as other banks, if there is a reduction in bank personnel and the number of branches, and if there is further disposal of bank assets. In this paper, we suggest the size of reduction of personnel and bank branches as well as the disposal of assets for each bank by looking into various scenarios. We conclude that without the necessary reduction and belt-tightening, the current M&As among Korean commercial banks is bound to result in continued mefficiency. Putting 40 million won in addition to the 100 million won of public money, the additional restructuring in the banking sector is makmg some progress. Problem banks including Hanvlt Bank are restrucutred and made a new start under the umbrella of the bank holding company. Healthy banks, such as Kookmin Bank and Housing and Commercial Bank, also announced the merger schedule and made further steps into the next succeeding arrangement The restructuring among remaining banks is still under discussion.Not many researches have been discussed empirically about the efficiency of the Korean commercial banks and suggested the desirable direction of the restructuring in bankibg sector to compete against the foremost international banks and to improve its lnternational competitiveness. Without proving the existence of the economy of scale, however, It can not be justified the Korean government policy to encourage the mergers and acquisitions among banks as a way of restructuring. In this paper, we measure the production efficiencies of the Korean commercial banks and compare them each other, using the DEA (Data Envelopment Analysis) method Analysis shows that the mergers and acquisitions among the banks which have similar production techniques can make the economy close further to the socially attainable production frontier, although it may not be easy to find the partners to merge After measuring the production efficiency of Korean banks, we find that further reduction in bank personnel and branches and further disposal of bank assets are definitely needed to improve the efficiency of the banks to be merged as well as the remaining banks. By scenario, we suggest the size of the reduction in personnel and branches as well as disposal of

금융기업 겸업화의 국제비교분석과 시사점

좌승희(Sung-Hee Jwa),이인실(Insill Yi) 한국경제연구원 2001 한국경제연구원 연구보고서 Vol.2001 No.-

Business diversification in the financial sector (so called universal banking) has become increasingly widespread since the latter half of the 1980s. The key feature of universal banking is the triple combination of commercial banking, investment banking, and insurance businesses. In a large number of countries, various long-standing laws and customs that have separated commercial banking from the securities and other business activities are promptly being removed. Although differences across countries still remain in terms of their structure, power, and regulatory framework, banking activities have become much more uniform internationally. More Important than any single similarity in the legal and regulatory systems, or the actual practice of banking, is the common trend in banking philosophy Increasing competition in the financial sector, as well as the rapid advancement of information technology, should be credited for encouraging this convergence. This study examines business diversification of financial companies using macro and micro level data of 19 countries for the period 1996 to 1999 Specifically, we use the Standard Industrial Classlfication(SIC) code to measure the level of diversification, which is here defined as the number of sectors or industries in which a given financial firm operates This paper investigates those factors that may influence the financial firms' diversification decisions and their effects on the financial system which include its laws, regulations, and various financial activities We use cross-country data at both the financial firm level as well as the international level. Five major hypotheses are tested to examine the relationship between business diversification and industrial organization in the financial sector. The specific features of interest include the size of the financial firm, the size of the country's financial market, the ratio of the direct to indirect financial markets, and the size of the country's economy. We also consider other mstltutional environmental factors that may affect the diversification behavior of financial firms. In order to raise the competitiveness and the efficiency of the Korean financial system, this study suggests that the banking system should allow individual financial firms to enlarge their optional breadth through business diversification.

재산세 공동과세제도와 자치구 재정건전성

조진형(Jinhyng Cho),이인실(Insill Yi) 한국재정학회 2016 한국재정학회 학술대회 논문집 Vol.2016 No.-

본 논문에서는 서울시가 2008년 도입한 재산세 공동과세 제도가 자치구의 재정건전성 개선에 주는 영향을 동 제도 도입 전후기간인 2001년에서 2015년간의 데이터를 사용하여 다중 회귀분석법을 이용해 분석하였다. 재산세 공동과세 제도가 서울 자치구의 재정건전성에 끼치는 영향력을 지방교부세, 재정 보전금 및 조정교부금, 보조금 등과 비교하여 분석해 본 결과에 의하면 재산세 공동과세 제도의 시행 이후 서울 25개 자치구(평균)의 재정자립도는 전반적으로 하락하였다. 특히 강남구, 서초구, 송파구, 중구, 영등포구 등 재산세 상위 자치구 5곳과 강북구, 금천 구, 도봉구, 은평구, 중랑구 등 재산세 하위 자치구 5곳의 재정건전성 변화를 비교 분석한 결과에 의하면 재산세 상위 5개 자치구의 재정자립도의 하락 폭은 서울 자치구 평균의 3배에 달했다. 재산세 하위 5개 자치구의 재정자립도는 상대적으로 작은 폭으로 하락하였다. 재정자립도가 하락하는 원인은 지방교부세를 포함한 의존재원이 증가하였고 사회 복지 수요 증가에 따른 예산 지출 증가하는 등의 원인에 근거한 것으로 분석된다. The fiscal inequality among 25 autonomous districts in Seoul, has been a serious matter, which causes imbalance in the quality of public service among those districts. In an effort to reduce the imbalance, the Seoul Metropolitan Government, introduced the Property Tax Sharing System(PTSS) in 2008. This study observes the districts fiscal indices after the enforcement of the PTSS, using multiple regression analysis, and also examines any changes in their fiscal independence. It was hypothesized that the fiscal indices of the top 5 districts would decrease, while the fiscal indices of the bottom 5 districts would increase. This study illustrates approaches to explaining how this hypothesis is demonstrated, presenting a systematical analysis within observable periods, from 2001 to 2015. The results show that, after the enforcement of the PTSS, the financial condition of the districts aggravated. The aggravation of the finances of the top 5 districts, was greater than that of the bottom 5 districts. The plausible factors are the following: the increase of grants and subsidies from the upper-level government, and the increase of budge expense on social welfare.

자영업 매출과 소득의 결정요인 분석

금재호(Jaeho Keum),이인실(Insill Yi) 한국경제연구학회 2011 한국경제연구 Vol.29 No.4

한국노동패널조사의 제1~10차 자료를 활용하여 외환위기 이후 10년간의 자영업주 매출과 소득의 변화 및 결정요인을 분석한 결과 자영업 내에서 ‘빈익빈 부익부’의 소득 양극화 현상이 진행되고 있으며, 2002년 이후 자영업주의 실질소득은 정체된 것으로 나타났다. 임금근로자의 소득에 비해 자영업주의 상대소득이 하락하였으며, 특히 ‘적자를 보고 있다’라는 표본을 분석에 포함시켰을 경우 자영업의 기대소득은 큰 폭으로 하락하였다. 소득변화의 요인파악을 위한 계량분석결과 2002년도 매출이 클수록 2005~2007년간 소득이 줄어들 확률이 높아져 매출 대비 순수익이 줄어든 것으로 추정된다. 그러나 종업원수에 따른 소득변화까지 감안하여 살펴보면 종업원수가 많은 사업체일수록 소득이 상승할 가능성이 높게 나와 자영업에서 있어도 ‘규모의 경제’의 중요성이 강화되고 있음을 보여준다. 사업규모가 큰 자영업은 더욱 번성하고, 규모가 작은 영세자영업은 더욱 위축되어 존폐의 위기에 부딪치게 됨에 따라 자영업 내부의 양극화 현상이 진행되고 있는 것이다. 자영업주 중에서도 여성, 고령자, 저학력자로 사업기간이 짧고 사업체 규모가 작은 경우 빈곤선 이하의 저소득 상황에 처할 위험성이 큰 것으로 나타났다. 영세자영업자를 위한 자금지원, 경영컨설팅, 고용지원서비스 및 사회안전망의 확충 등 정부의 적극적 대책이 요구된다. We analyse the factors determining changes in sales and income of self-employer, using Korean Labor & Income Panel Study(KLIPS) data for ten years after Korean financial crisis. The ‘rich-get-richer and poor-get-poorer’ phenomena have been underway within the self-employed business area. The real income of self-employed business owner has been stagnated since 2002. The income of self-employer has decreased relatively, being compared to that of the wage worker, and has decreased further, when we include the samples answering ‘showing a loss’. As a result of econometric analysis of determining factors of changes in income and sales, it is found that the net profit of self employed business has decreased, as the bigger the sales in 2002 is, the bigger the probability of income downscale between 2005 and 2007 is. When we include the size of employees in our econometric analysis, the economy of scale phenomena have been strengthened, as the bigger the size of employee is, the bigger the probability of income upscale is. As the bigger sized self-employers do good businesses and the smaller sized self-employers gets worse, the polarization of self-employed business has proceeded. There is a high possibility that the self-employers being low educated and aged and female are reduced to poverty level. For them, the financial provision, management consulting support, and social safety network are needed.

재정건전성 강화를 위한 재정구조 최적화 방안

김홍균 ( Kim Hong-kyun ),이인실 ( Yi Insill ) 서강대학교 서강시장경제연구소 2017 시장경제연구 Vol.46 No.3

본 연구에서는 재정건전성 논의와 EU에서 제시한 재정건전화를 위한 재정구조최적화 방안을 기초로 2016년 국회에 제출되었던 「재정건전화법」을 분석하여 우리나라에 필요한 재정건전화 방안을 제시하였다. 첫째, 국가채무목표치 달성을 위한 정책수단으로 지출상한제를 도입하되 MTBF관점에서 재정수지준칙과 병행해서 도입해야 한다. 둘째, 우리나라도 독립적인 재정기관을 설립하여 재정건전화집행 기관들이 재정건전화법에 제시된 사항을 잘 준수하고 있는지를 정기적으로 감시 및 감독하게 하고, 각종 거시경제지표를 제공하는 고유 업무에 추가해서 국회의원선거나 대통령 선거 때 각 정당들의 공약사항에 따른 재정 부담을 평가하게 할 필요가 있다. 셋째, 채무불이행에 따른 제제 조치를 「재정건전화법」에 명시할 필요가 있다. In this paper, we analyzed the Fiscal Soundness Bill(FSB) presented to the National Assembly in October, 2016 based on the discussion of fiscal soundness and the fiscal structure optimization for EU fiscal restructuring. The analysis reveals that first, it is necessary to introduce a ceiling cap as a policy tool to achieve the national debt target, but along with a balanced fiscal rule from a Medium-term Budgetary Framework perspective. Second, it needs to establish independent financial institutions to regularly monitor whether fiscal enforcement agencies are compliantly with the FSB provisions. In addition to the specific task of providing various macroeconomic indicators, it is also necessary to assess the financial burden of each political party in the election. Finally, the sanctions against debt default must be specified in the FSB.