정책집행의 실패와 그 원인, 그리고 사회적 손실 분석

다국어 초록 (Multilingual Abstract)

The Policy of Ventures Promotion was formed to aim for the reorganization of Korean industrial structures, reinforcing competitiveness of Korean companies, the promotion of employment and so forth. In order to achieve this purpose, Korean Government provided Ventures to various aid policies. But the level of the aid was preferential treatment to be far superior to others. In the process of implementation, this policies were recognized Ventures to rents. So they devoted rent-seeking to earn rents that Government created. On the Contrary, it was weak to exercise strict control over Ventures by the Government. In Addition, it occurred so called 'no-reason investment' that Korean investors behaved in herding investment instead of not investing in stocks by correct analysis. For these reasons, the Policy of Ventures Promotion did not produce large performances. And its outcomes are very slight. So it concluded to be failure. As a result, it was brought forthmuch social loss.This paper tried to estimate social loss on depreciation of KOSDAQ, especially the Venture price index of stocks, to be caused by the failure of Ventures Promotion Policy. This study set analytic period between March 9th 2000 that came up to the highest points at the Venture price index of stocks and October 11th 2002 that came up to lowest points in Kim, Dae-Jung Government. As a result of estimating social loss, it was about 118.4 trillions. The amount of this loss was so enormous, moreover social and psychological shocks was not inferior to that. With the Policy of Ventures Promotion was fallen down like this, the policy that was intended make good use of revitalizing Korean economy could have produce only little effect.