예금보험 문헌연구: 제도개선에의 함의 (Literature Review on the Deposit Insurance System Around the World: Implications for Its Improvement)

30 Pages Posted: 11 Aug 2017 Last revised: 10 Jan 2019

See all articles by Kwangwoo Park

Kwangwoo Park

KAIST (Korea Advanced Institute of Science and Technology) - College of Business

Junho Park

Singapore Management University; KAIST (Korea Advanced Institute of Science and Technology), College of Business

Date Written: December 31, 2014

Abstract

Korean Abstract: 본고에서는 기존문헌연구를 통하여 예금보험제도가 도입된 후 어떻게 발전되어 왔는지 살펴보았다. 이를 위해 먼저 예금보험과 금융안정의 관계를 분석한 기존문헌들을 분석하였다. 기존문헌에서는 일반적으로 금융산업이 발전한 국가에서는 예금보험제도가 금융안정에 긍정적인 영향을 미쳤으나 법체계와 경제 상황에 따라 그렇지 않은 국가들도 많았던 것으로 나타났다. 본 연구에 서 예금보험제도를 효율적으로 정착시키기 위한 개선방향에 대해 기존문헌을 분석한 결과는 다음 같이 요약된다. 첫째, 이미 예금보험제도를 도입한 국가에서는 금융기관의 재무건전성 정도에 따라 점진적으로 예금보험료를 차등해 조정할 필요가 있다. 둘째, 국민소득수준의 변화에 따라 주기적으로 적절하게 예금의 보호한도를 조정하는 것이 바람직하다. 셋째, 대형화추세로 인한 금융기관의 편중위험증대를 고려한 적정예금보험기금 추정과 그에 따른 적립이 이루어져야 할 것이다. 마지막으로 부실금융기관의 퇴출정책에서 예금보험기구의 주도적 역할이 중요함을 발견하였다. 본 연구의 정책적 시사점은 예금보험제도로 인한 은행의 과도한 위험 추구 행위를 방지하기위해서는 예금보험료, 보호한도, 기금적립, 부실기관 퇴출 정책을 종합적으로 고려하여야 한다는점이다.

English Abstract: In this paper, we analyze how a national deposit insurance system evolves after the introduction in each country by reviewing the existing literature. We first examine the relationship between financial stability and deposit insurance. Overall, the findings in the existing literature show that deposit insurance systems have a positive impact on financial stability for countries with the well-developed financial services industry, while it is not valid for countries with poor economic conditions and legal systems. The direction of improvement for well-functioning deposit insurance from the findings on the existing literature suggests the following. First, for countries already with a deposit insurance system, it is important to gradually introduce differential deposit insurance premiums mechanisms, depending on the degree of financial soundness of financial institutions in the relevant country. Second, it is desirable to adjust periodically coverage limit as a function of the change in the per-capita income level of each country. Third, in line with the increased concentration risk from up-sizing of financial institutions, it is crucial to estimate the adequate level of the deposit insurance fund. Finally, we find that a leading role of deposit insurance agency is anticipated in the exit process of failing financial institutions. Our results offer important policy implications that we should comprehensively consider issues on pricing deposit insurance, specifying guarantee limits, raising deposit insurance funds, and designing exit policies to prevent insured banks from taking too excessive risks.

Note: Downloadable document is available in Korean.

Keywords: 예금보험, 금융안정, 차등예금보험, 경기순응성, 목표기금제도, Deposit Insurance, Financial Stability, Differential Deposit Insurance, Pro-cyclicality, Target Deposit Insurance Funds

JEL Classification: E58, E61, G21, G23, G28

Suggested Citation

Park, Kwangwoo and Park, Junho, 예금보험 문헌연구: 제도개선에의 함의 (Literature Review on the Deposit Insurance System Around the World: Implications for Its Improvement) (December 31, 2014). Financial Stability Studies, Vol. 15, No. 2, Korea Deposit Insurance Corporation(KDIC), 2014, pp. 1-30.. Available at SSRN: https://ssrn.com/abstract=3016235 or http://dx.doi.org/10.2139/ssrn.3016235

Kwangwoo Park (Contact Author)

KAIST (Korea Advanced Institute of Science and Technology) - College of Business ( email )

85 Hoegiro
Seoul 02455
Korea, Republic of (South Korea)
82-2-958-3540 (Phone)
82-2-958-3604 (Fax)

Junho Park

Singapore Management University ( email )

469 Bukit Timah Road
Singapore 912409
Singapore

KAIST (Korea Advanced Institute of Science and Technology), College of Business ( email )

85 Hoegiro, Dongdaemoon-gu
Seoul
Korea, Republic of (South Korea)

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