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This study investigated what financial effect is making on regional economic growth after the IMF crisis through panel analysis. IMF crisis reduced the role of non-bank depository institution through restructuring of regional enterprises and financial institutions, so supposing that such decline of regional financial institutions had a negative effect on regional small manufacturing enterprises, its empirical proof was looked for through analysis. As a result, on the increase of regional manufacturing value added per capita, effect of non-bank depository institution variables proved to be much less than those of depository money bank, and it was verified that, especially after 2001 when IMF restructuring ended, the role of regional retail financial institution has been remarkably reduced.