인천 지역금융의 피폐화와 대안적 금융의 모색- 미국 지역금융 시스템으로부터의 교훈 -

Abstract

This study looked at the present status and problems of Incheon regional finance, and then examined the alternative financial system in the US, as a way to solve these problems. Based on these results, it has been found that the role of regional financial institutions is foremost important to mitigate the interregional loan differences and to lead sustainable local economy through intraregional circulation of funds in Korea where interregional financial discrimination exists. In the region of Incheon, the role of local financial institution has been significant reduced since the Financial Crisis in 1997. The number of region-based local financial institution in Incheon, particularly, has decreased by 35% compared to the number in 1997. The decrease of such region-based financial institutions reduced the loan for SMEs and small merchants within the region, working as the cause of expanding a social problem in the region. On the other hand, there are a number of studies that point out that centralization toward the metropolitan area is being reinforced even in financial sector along with intensification of economic concentration in metropolitan area. When considering the three regions including Incheon, Seoul and Gyeonggi-do as the metropolitan area which is the regional standard, the objectivity may be granted to the above indication. When examining the three areas separately, however, Seoul continues the net inflows except 2007 – 2009, whereas outflow of funds of regional saving banks in Incheon and Gyeonggi regions deems serious. It was found that, Incheon region was the worst among the regions. In Incheon, instability for financing has been increased due to impoverishment of local banks, and as a result, SMEs and small merchants have faced difficulty of financing. In the US, CRA was introduced in 1977 to relieve the differentiation between regions. In 1994 under Clinton Government, as ‘Riegle Community Development and Regulatory Improvement Act of 1994’ was enacted, the function and role of CDFI was institutionalized by law for the first time. When looking at the CRA and CDFI cases, which are the alternative financial systems in the US, it has been confirmed that the public nature of finance and the role of local financial institutions only if an appropriate strained relation among the country, civil society and the market. Considering the current situation in Incheon region, now is the time to think about applying the alternative financial cases to the conditions in Incheon region.