earticle

영어

The policy loan of the Small and Medium Enterprises is differentiated from private financial institutions in that it supports the SMEs in the area of market failure. Despite this differentiation, there is an tendency to find its efficiency and economic feasibility of the policy loan of the SMEs. The purpose of this study is to examine the economic feasibility of the policy loan of SMEs using a cost-benefit analysis of the financial programs for SMEs. The result of the analysis, which is expressed with benefit-cost ratio(BCR), is that the efficiency of the entire industry is 24.94 in 2008 and 19.66 in 2009. In addition to, the benefit-cost ratio(BCR) of manufacturing(13.57 in 2009) and non-manufacturing(22.23 in 2009) are also each high. In summary, the economic feasibility of the financial programs for SMEs is proved.