공공부문 R & D 보조금지원이 우리 나라 수출에 미치는 영향에 관한 실증분석 (1998)

Since settlement of the Uruguay Round and the launch of the World Trade Organization system, the international trade environment is moving towards free trade. Under the GATT system, there was no definite regulation on domestic subsidy which had no direct relation with export, though it limited direct supports that might affect export. The reason of regulation is that it may result in unfairness for competing nations because the subsidy can change artificially the comparative advantage structure and may allow some products without comparative advantage to be exported. According to the Agreement on Subsidies and Countervailing Measures of the UR, the definition and countervailing measures on subsidy was modified for clarification. Under the WTO system, subsidies were classified based on their impact on trade and their specificity as banned, countervailable, and permitted subsidies. While the Organization does not allow the first two subsidies the last one allows subsidies on research and development, local development and environmental protection. In this study, I analysed the influence of R&D subsidy by Korean public sector on Korea`s export, investigated Korean policy concerning R&D subsidy and sought for the measures overcoming problems therewith. In my research, I started from a basic model analyzing Korean exports using added several variables that have effect on export such as export relative price, world income and the amount of R&D subsidy. Annual data running from 1970 to 1995 were used. I ran regressions with the Ordinary Least Squares Method, using level and first differenced data. As a result, export relative price and world income showed expected responses and the coefficients were generally significant. In case of the amount of R&D subsidy, however, there was no statistical significance. The empirical evidences imply that the R&D subsidy was not managed effectively. Therefore, it is needed to reform the subsidy system to improve its effectiveness in terms of resource allocation. And in the long run, subsidy needs to be limited within certain amount to collect for the market failure. Measures to improve the functioning of the R&D subsidy need to start from making the incentive system that are mixed with existing R&D Reserve Fund and minimum tax, and the allowance of transfer of deducted tax which was not applied in the year to be more effective to promote the R&D investment. In the long run, it is needed to study transforming R&D Reserve Fund and minimum tax into a new system that sets the limit of deduction on R&D cost, even though the transfer of deducted tax may be allowed. Moreover, as for the financial support system, to overcome the problems like loan practice such as offering mortgage with the subsidy that is regarded as a private capital using the policy of low-interest loan of R&D money, it is desirable to transfer the specific R&D business WTO allows into governmental support for nothing, and for the non-specific R&D business into monetary one to support R&D of middle-and-small businesses and ventures. As for the reform of the Korean R&D subsidy it is necessary to establish a non-profit consulting center that may give general advice from R&D stage to production and marketing so that middle-and-small businesses and ventures rather than large enterprises can utilize the tax and financial systems, or to reinforce the current Korea Institute for Production and Technology into one that may offer general aid to the middle-and-small businesses and ventures in technology innovation and management. And by activating R&D facilities of universities, it is also desirable for government to firm up a policy of non-subsidy support on the R&D infrastructure that may serve the information, training, experimental equipment and facility to increase middle-and-small businesses and ventures prodution capacity.