韓國銀行을 通한 政府財源擴充形態에 관한 硏究

A Study on the form of the Central Bank Credit to Government in Korea

The study on the central bank independence from Government in Korea is intended to focus on the partial reform of the Bank of Korea Act. This paper attempts to analyse the various form of the central bank credit to Government in Korea's current legal system. The major findings of this study are as follows. The Bank of Korea is ready to cover those direct or indirect financial requirement to the goverment that cannot be met from other sources. The political situation cannot insulate the Bank of Korea from any official pressure to assist in financing of Government deficits. In my opinion, the Bank of Korea should provide financial accomodation to Government to tide over an emergency or to meet a temporary short-fall in revenue. What is not adequatelly recognized, however, is the emergence of an entirely different situation when central bank credit to Government is more than purely temporary or when excessire use is made of central bank credit by the Government.