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Compounding financial repression with rigid urban regulations : lessons of the Korea housing market (Английский)

The objective of this paper is to explore the interactions between financial and urban policies, and their joint impact on the performance of the housing sector during the course of economic development. The central hypothesis is that extended periods of financial repression and the scarcity of mortgage lending have generated significant distortions in the output of the Korean housing sector. In addition, combined with very restrictive urban planning...
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