 산업보조금의 글로벌 확산 현황과 시사점(Proliferation of Industrial Subsidies: Current State and Its Implications)Hyeyoon Keum ()
No 23-11, Policy Reference from Korea Institute for International Economic Policy Abstract: 연구에서는 산업보조금 현황을 포괄적으로 파악하기 위하여 2008년 11월부터 2023년 4월까지 국가별 정부 개입에 대한 정보를 담고 있는 글로벌 무역경보(Global Trade Alert) 데이터베이스의 보조금 통계(Corporate Subsidy Inventory)를 이용하였다. 분석 기간 전 세계 및 중국, EU, 미국의 산업보조금 현황을 시기별· 상대국별·유형별·산업별로 자세하게 살펴보았다. 또한 산업보조금이 크게 확산된 2018년 이후 중국, EU, 미국의 보조금 정책을 비교하고, 이에 따라 영향을 받는 한국의 수출입 산업 및 품목을 분석하였다. The recent trade environment has not been favorable for Korea. Since 2018, the U.S.-China trade conflict has intensified, leading to more protectionist tendencies globally, and since 2020, the COVID-19 pandemic has led major countries to build more resilient supply chains. As a result, subsidies have become increasingly important as a useful trade policy to address emergencies or market failures. But subsidies have the potential to distort trade and competition depending on who they target and how they are administered. And Korea, with its high trade dependence (96.8% as of 2022), can be particularly affected by the subsidy policies of its trading partners. However, the global proliferation of subsidies is likely to continue for the foreseeable future, and it is time to take a closer look at the current state of subsidy policies. In this study, I use statistics from the Global Trade Alert (GTA) database, which contains information on government intervention by country from November 2008 to April 2023, and the Corporate Subsidy Inventory, which contains information on subsidies only, to examine the status of industrial subsidies in detail. We also identify Korean industries that are associated with subsidies in major countries and analyze the trade changes of Korean industries before and after the implementation of industrial subsidy policies in major trading partners. During the analysis period, the number of industrial subsidy policies increased significantly globally. The number of subsidy measures increased from 92 in 2008 to 1,511 in 2021, with 147 policies announced in a four-month period in 2023. The country with the most industrial subsidy policies over the same period was China, with a total of 3,770, followed by the EU, the US, Canada, Japan, and India. Each of these countries' subsidy measures covered a wide range of products and industries and affected almost every country in the world, including Korea. Financial grants were the most common type of subsidy throughout the period, accounting for 35.9% of all measures, followed by trade finance and state loans. In addition, tax or social insurance reliefs and production subsidies have been increasingly announced in recent years.(the rest omitted) Keywords: 보조금; 무역정책; 산업보조금; 보조금; 통상정책; Subsidies; trade policy; industrial subsidies; subsidies; trade policy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ris:kiepre:2023_011 Access Statistics for this paper More papers in Policy Reference from Korea Institute for International Economic Policy [30147] 3rd Floor Building C Sejong National Research Complex 370 Sicheong-daero Sejong-si, Korea. Contact information at EDIRC. |
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