선별적 무역정책과 신용제약
Selective Trade Policy and Credit Constraints
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초록
본 연구는 고도성장기 한국 경제에는 심각한 무역장벽이 존재했지만 수출보조금이 그 효과를 상쇄했기 때문에 당시 한국의 무역정책은 전체적으로 중립적이었다는 신고전학파의 주장을 이론적으로 비판한다. 이러한 주장은 한 산업에서 수출과 수입이 동시에 발생하여 동일 산업이 수입관세와 수출보조금의 혜택을 모두 받을 수 있으며, 70년대 한국의 보호무역이 중화학공업에 선별적이었다는 점을 간과하고 있다. 본 연구는 이를 선명하게 보이기 위하여 금융의존도가 상이한 이질적 기업들이 신용제약하에서 2기간에 걸쳐 국내시장과 외국시장에서 독점적경쟁을 하는 간단한 동태적 독점적경쟁 모형을 구성한다. 모형은 금융의존도가 높아 신용제약에 크게 노출되어 있는 산업에 선별적 수출보조금과 수입관세를 동시에 부과하는 무역정책은 새로운 기업의 진입과 투자를 촉진하여 국민후생을 증가시킬 수 있음을 보여준다.
Abstract
A dominant view of the neoclassical school on Korea’s trade policy during 1960s and 1970s is that Korea’s trade policy was on average neutral because export subsidies offset the effects of import barriers. This position misses two important points on trade policy realities: 1) firms often sell to both domestic and foreign markets at the same time, and thus a single firm benefits from both import tariffs and export subsidies at the same time, and 2) trade intervention is usually selective. This paper constructs a simple dynamic model of trade under monopolistic competition in the presence of credit constraints. In this model, import tariffs and export subsidies simultaneously imposed on selective capital-intensive and credit-constrained industries promote firms’ entries and investment, and are likely to improve national welfare.
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