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Housing Policy, Mortgage Markets, and Housing Outcomes in Korea
Region: Asia
Location: Korea, South
Published May 25, 2011
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This paper aims to trace the major changes that took place in the Korean housing market and the housing finance system during the past decade, and also to offer an evaluation of government interventions on housing outcomes. We focus our attention on the role of the expansion of mortgage lending on the housing market as it interacted with inelastic supply responses to demand shocks. The paper draws lessons and policy implications from the Korean experience.

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