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Jan 1, 2024ยทSSRN Electronic Journal
0 cites
ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต (Decentralized Finance)๊ณผ ๊ธˆ์œต์•ˆ์ • (Regulatory Issues on Decentralized Finance and Financial Stability in Korea)

Dong Won Ko

Korean Abstract: ์„ธ๊ณ„์ ์œผ๋กœ ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต(decentralized finance: DeFi) ๊ฑฐ๋ž˜๊ฐ€ ๊ธ‰๊ฒฉํžˆ ์ฆ๊ฐ€ํ•˜๊ณ  ์žˆ์œผ๋ฉฐ ๊ตญ๋‚ด์—์„œ๋„ ๊ฑฐ๋ž˜ ๊ทœ๋ชจ๊ฐ€ ์ฆ๊ฐ€ํ•˜๊ณ  ์žˆ์–ด ๊ด€์‹ฌ์ด ์ปค์ง€๊ณ  ์žˆ๋‹ค. ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต์ด๋ž€ ์ค‘์•™ํ™”๊ธˆ์œต (centralized finance: CeFi)์— ๋Œ€๋น„๋˜๋Š” ๋ง๋กœ์„œ ์ค‘์•™ํ™”๊ธˆ์œต์—์„œ ์ด์šฉ๋˜๋Š” ๊ธˆ์œต๊ธฐ๊ด€์˜ ์ค‘๊ฐœ ์—†์ด ์•”ํ˜ธ์ž์‚ฐ(๋˜๋Š” ๊ฐ€์ƒ์ž์‚ฐ)์˜ ๊ฑฐ๋ž˜๊ฐ€ ์ด๋ฃจ์–ด์ง€๋Š” ๊ธˆ์œต์„ ๋งํ•œ๋‹ค. ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต์ด ๊ฐ€๋Šฅํ•œ ๊ฒƒ์€ ๋ฐ”๋กœ โ€˜๊ฑฐ๋ž˜์ •๋ณด์—ฐ๊ฒฐ๊ธฐ์ˆ โ€™(blockchain)์„ ๊ธฐ๋ฐ˜์œผ๋กœ ํ•˜๋Š” โ€˜์ž๋™๊ณ„์•ฝ์ดํ–‰์ฒด๊ณ„โ€™ (smart contract)๊ฐ€ ๊ฐœ๋ฐœ๋˜๋ฉด์„œ ์ •๋ณดํ†ต์‹ ๋ง์—์„œ ๊ฐœ์„ค๋œ ์šด์˜์ฒด๊ณ„(protocol)์—์„œ ์•”ํ˜ธ์ž์‚ฐ ๊ฑฐ๋ž˜๊ฐ€ ์ž๋™์ ์œผ๋กœ ์ด๋ฃจ์–ด์ง€๊ธฐ ๋•Œ๋ฌธ์ด๋‹ค. ๊ฑฐ๋ž˜ ๋น„์šฉ์ด ์ ˆ๊ฐ๋˜๊ณ , ๋ˆ„๊ตฌ๋‚˜ ๊ฑฐ๋ž˜ ์ฐธ์—ฌ๊ฐ€ ๊ฐ€๋Šฅํ•˜๋ฉฐ, ํˆฌ์ž์— ๋”ฐ๋ฅธ ์ˆ˜์ต์„ ์˜ฌ๋ฆด ์ˆ˜ ์žˆ์–ด, ๊ฑฐ๋ž˜ ๊ทœ๋ชจ๊ฐ€ ์ปค์ง€๊ณ  ์žˆ๋‹ค. ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต์€ ์ „ํ†ต์ ์ธ ๊ธˆ์œต์‹œ์žฅ๊ณผ ์—ฐ๊ฒฐ๋˜์–ด ์žˆ์–ด ๊ธˆ์œต์•ˆ์ •์— ๋ฏธ์น˜๋Š” ์˜ํ–ฅ๋„ ์ปค ๊ทœ์ œ์˜ ํ•„์š”์„ฑ์ด ์ œ๊ธฐ ๋œ๋‹ค. ๊ทธ๋Ÿฌ๋‚˜ ์•„์ง ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต ๊ฑฐ๋ž˜์— ๋Œ€ํ•œ ๊ทœ์ œ ์ฒด๊ณ„๋Š” ์ •๋ฆฝ๋˜์–ด ์žˆ์ง€ ์•Š์•„ ๋ฒ•์ œ ์ •๋น„๊ฐ€ ํ•„์š”ํ•˜๋‹ค. ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต ๊ฑฐ๋ž˜์˜ ์œ ํ˜•์„ ์‚ดํŽด๋ณด๋ฉด, ํƒˆ์ค‘์•™ํ™” ์˜ˆ์น˜ใ†๋Œ€์—ฌ ๊ฑฐ๋ž˜, ํƒˆ์ค‘์•™ํ™” ์ž์‚ฐ์šด์šฉ ๊ฑฐ๋ž˜, ํƒˆ์ค‘์•™ํ™” ํŒŒ์ƒ์ƒํ’ˆ ๊ฑฐ๋ž˜, ํƒˆ์ค‘์•™ํ™” ๋ณดํ—˜ ๊ฑฐ๋ž˜, ํƒˆ์ค‘์•™ํ™”๊ฑฐ๋ž˜์†Œ์—์„œ ์ด๋ฃจ์–ด ์ง€๋Š” ์•”ํ˜ธ์ž์‚ฐ ๊ฑฐ๋ž˜๊ฐ€ ์žˆ๋‹ค. ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต ๊ฑฐ๋ž˜์— ๋Œ€ํ•œ ๊ทœ์ œ ๋ฐฉํ–ฅ์€ ํฌ๊ฒŒ ์„ธ ๊ฐ€์ง€ ๋ฐฉ์•ˆ์„ ์ œ์‹œํ•  ์ˆ˜ ์žˆ๋‹ค. ์ฒซ์งธ๋Š” ใ€Œ์€ํ–‰๋ฒ•ใ€๋“ฑ ๊ธˆ์œต ๊ด€๋ จ ๋ฒ•๋ฅ ๋“ค์˜ ํ•ด๋‹น ์กฐํ•ญ์— ๋Œ€ํ•œ ์œ ๊ถŒํ•ด์„์„ ํ†ต ํ•ด์„œ ๊ทœ์ œํ•˜๋Š” ๋ฐฉ์•ˆ, ๋‘˜์งธ, ๊ด€๋ จ ๋ฒ•๋ฅ ๋“ค์„ ๊ฐœ์ •ํ•ด์„œ ๋ช…ํ™•ํ•˜๊ฒŒ ๊ทœ์ œ๋ฅผ ํ•˜๋Š” ๋ฐฉ์•ˆ, ์…‹์งธ, ์•”ํ˜ธ ์ž์‚ฐ ๊ฑฐ๋ž˜ ๊ทœ์ œ ๊ด€๋ จ ์ผ๋ฐ˜๋ฒ•์ธ ใ€Œ๊ฐ€์ƒ์ž์‚ฐ ์ด์šฉ์ž ๋ณดํ˜ธ ๋“ฑ์— ๊ด€ํ•œ ๋ฒ•๋ฅ ใ€์„ ๊ฐœ์ •ํ•˜์—ฌ ํƒˆ์ค‘์•™ ํ™”๊ธˆ์œต ๊ฑฐ๋ž˜ ๊ทœ์ œ์— ๊ด€ํ•œ ๊ทœ์ •๋“ค์„ ํฌํ•จ์‹œํ‚ค๋Š” ๋ฐฉ์•ˆ์ด๋‹ค. ์ด ์ค‘ ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต์˜ ํŠน์„ฑ์„ ๋ฐ˜์˜ํ•œ ํšจ์œจ์ ์ธ ๊ทœ์ œ ์ฒด๊ณ„๋ฅผ ๋งŒ๋“ค ์ˆ˜ ์žˆ๋Š” ์…‹์งธ ๋ฐฉ์•ˆ์ด ๋ฐ”๋žŒ์งํ•œ ๋ฐฉ์•ˆ์ด๋ผ๊ณ  ํŒ๋‹จ๋œ๋‹ค. ๊ทธ๋ž˜์„œ ์ด ๋ฒ•๋ฅ ์— ๋‹ด์•„์•ผ ํ•  ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต ๊ฑฐ๋ž˜ ๊ทœ์ œ ๋‚ด์šฉ์€ โ‘  ํƒˆ์ค‘์•™ํ™”๊ธˆ์œต ์šด์˜์ฒด๊ณ„๋ฅผ ๊ฐœ์„คใ†์šด์˜ํ•˜๋Š” ์šด์˜์—…์ž์— ๋Œ€ํ•œ ๋“ฑ๋ก์ œ ๋„์ž…, โ‘ก ์šด์˜์—…์ž์˜ ํˆฌ์ž์ž์— ๋Œ€ํ•œ ์„ค๋ช… ์˜๋ฌด, โ‘ข ์ด์šฉ์ˆ˜์ˆ˜๋ฃŒใ†์ˆ˜์ต๋ฅ  ๋“ฑ์˜ ๊ณต์‹œ ๊ทœ์ œ, โ‘ฃ ๊ฑฐ๋ž˜ ๋ฐ ์šด์˜ ํ˜„ํ™ฉ ๊ณต์‹œ ๊ทœ์ œ, โ‘ค ๊ด‘๊ณ  ๊ทœ์ œ, โ‘ฅ ์ „์‚ฐ๋ณด์•ˆ ์ฒด๊ณ„ ๊ตฌ์ถ• ์˜๋ฌด, โ‘ฆ ์šด์˜์—…์ž์˜ ๊ฐ๋…๊ธฐ๊ด€์— ๋Œ€ํ•œ ์šด์˜ ํ˜„ํ™ฉ ๋“ฑ ๋ณด๊ณ  ์˜๋ฌด, โ‘ง ๋ถ„์Ÿ์กฐ์ • ๋“ฑ ๋ถ„์Ÿํ•ด๊ฒฐ ์ ˆ์ฐจ ๋“ฑ์ด๋‹ค. English Abstract: Recently, โ€œdecentralized financeโ€ (DeFi) is rapidly growing in crypto-asset markets. DeFi means decentralized applications (Dapps) providing blockchain financial services using smart contracts, including staking and lending crypto-assets, exchange, insurance, derivatives, and asset management services. DeFi typically operates without centralized intermediaries (i.e., traditional financial institutions) and uses open protocols. Although the size of DeFi is rapidly growing globally and domestically, a regulatory regime for DeFi has not yet been firmly set up, and a regulator in each country has not yet established a detailed plan and strategy to regulate the DeFi industry. Thus, many investors may incur losses partly arising from the DeFi operatorโ€™s misconduct, unlawful activities, or unfair crypto-asset trading. Moreover, DeFi may impact financial stability since it closely relates to traditional financial systems and the real economy. Considering this current situation, this article seeks to review the current developments of DeFi and to suggest how to regulate DeFi markets. In particular, in specifying a regulated entity, this paper recommends that an operator of DeFi protocols be a regulated target regardless of the existence of governance token holders who influence the decision of a protocolโ€™s operation. Further, this article argues that the recently enacted โ€œVirtual Asset Investor Protection Actโ€ should be revised to regulate DeFi, comprised of those requirements, including an operatorโ€™s registration, disclosure of fees and operation status, maintenance of a robust cyber-security, reporting to a regulator, and regulating an operatorโ€™s advertisements, rather than revising the current relevant laws, such as banking law, capital market law, and insurance law.

Open access
2 source records
Intergenerational Family Dynamics and Caregiving
Financial Literacy, Pension, Retirement Analysis
Housing, Finance, and Neoliberalism
Original source
Apr 27, 2023ยทSocijalna politika
0 cites
NOVELTIES AND EXPECTED IMPACT FROM CHANGES IN THE MACEDONIAN SOCIAL PROTECTION LEGISLATION

ะกัƒะทะฐะฝะฐ ะ‘ะพั€ะฝะฐั€ะพะฒะฐ, ะะฐั‚ะฐัˆะฐ ะ‘ะพะณะพะตะฒัะบะฐ

The new Law on Social Protection (LSP in further text) in the Republic of North Macedonia was adopted in 2019 as part of a social reform process in line with the key strategic goals within the social protection system. The main aspects of the new regulation focus on types, procedures and realization of social protection activities, the system, organization and institutional framework of social protection, as well as cadres, financing and oversight and other issues of importance for realization of social protection. The new LSP introduced many systemic changes which are reasonably interlinked in the text and provide for unhindered accomplishment of the key ongoing processes in social protection, such as deinstitutionalization, decentralization and pluralization in social services delivery. This article aims to identify impact and challenges related to implementation of the new social legislation, with focus on delivery and financing of social services. The content of this paper is a result of an analysis conducted in 2021 based on qualitative methodological approach and application of techniques of content analysis of relevant laws, bylaws, statistical data, reports, as well as expert interviews with representatives from relevant institutions โ€“ Ministry of Labour and Social Policy, Institute for Social Activities and representatives from national social service providers (public and private).

Social Policy and Reform Studies
Employment and Welfare Studies
Intergenerational Family Dynamics and Caregiving
Original source
Jan 1, 2012ยทPalgrave Macmillan UK eBooks
7 cites
Financing Long-Term Care in Southwest Europe: Italy, Portugal and Spain

Joan Costaโ€Font, Cristiano Gori, Silvina Santana

The progressive ageing of the European population and the transformation of family care giving arrangements bring to the fore the question of how best to Finance long-term care (LTC). Particularly important is the specific financial organization of LTC systems when both social and demographic constraints compete with economic motivations to rationalize public insurance schemes. LTC provides support for old age dependants that need some health care, but primarily social care. However, Southern European countries are facing the paradox of health care being a top policy priority as in almost all European countries, whilst social care is nearly privatized or has been heavily decentralized to local authorities, and subject to means- as well as needs-testing (Costa-Font and Font-Vilalta, 2006; Gil, 2009; CostaFont, 2010a; Santana, 2010). Private financing is primarily dominated by intra-household interactions and self Financing. The role of private financing alternatives is developing in some countries such as Spain, but is still far from taking off. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Intergenerational Family Dynamics and Caregiving
Migration, Aging, and Tourism Studies
Housing, Finance, and Neoliberalism
Original source
Jul 1, 2010ยทInternational Social Security Review
136 cites
Economic security arrangements in the context of population ageing in India

David E. Bloom, Ajay Mahal, Larry Rosenberg, Jaypee Sevilla

Abstract The rapid ageing of India's population, in conjunction with migration out of rural areas and the continued concentration of the working population in the informal sector, has highlighted the need for better economic security arrangements for the elderly. Traditional family ties that have been key to ensuring a modicum of such security are beginning to fray, and increased longevity is making care of the elderly more expensive. As a result, the elderly are at increased risk of being poor or falling into poverty. In parallel with its efforts to address this issue, the Government of India and some of the Indian states have initiated an array of programmes for providing some level of access to health care or health insurance to the great majority of Indians who lack sufficient access. Formalโ€sector workers have greater social security than those in the informal sector, but they only represent a small share of the workforce. Women are particularly vulnerable to economic insecurity. India's experience offers some lessons for other countries. Although there is space for private initiatives in the social security arena, it is clear that most such efforts will need to be taxโ€financed. The role that private providers can play is substantial, even when most funding comes from public sources, but such activity will face greater challenges as more individuals seek benefits. India has also shown that implementation can often be carried out well by states using central government funds, with a set of advantages and disadvantages that such decentralization brings. Finally, India's experience with implementation can offer guidance on issues such as targeting, the use of information technology in social security systems, and human resource management.

2 source records
Intergenerational Family Dynamics and Caregiving
Technology Use by Older Adults
Retirement, Disability, and Employment
Original source
Mar 1, 2005ยทThe China Quarterly
58 cites
Children's Social Welfare in China, 1989โ€“1997: Access to Health Insurance and Education

Jennifer Adams, Emily Hannum

Fundamental changes in China's finance system for social services have decentralized responsibilities for provision to lower levels of government and increased costs to individuals. The more localized, market-oriented approaches to social service provision, together with rising economic inequalities, raise questions about access to social services among China's children. With a multivariate analysis of three waves of the China Health and Nutrition Survey (1989, 1993 and 1997), this article investigates two dimensions of children's social welfare: health care, operationalized as access to health insurance, and education, operationalized as enrolment in and progress through school. Three main results emerge. First, analyses do not suggest an across-the-board decline in access to these child welfare services during the period under consideration. Overall, insurance rates, enrolment rates and grade-for-age attainment improved. Secondly, while results underscore the considerable disadvantages in insurance and education experienced by poorer children in each wave of the survey, there is no evidence that household socio-economic disparities systematically widened. Finally, findings suggest that community resources conditioned the provision of social services, and that dimensions of community level of development and capacity to finance public welfare increasingly mattered for some social services.

Poverty, Education, and Child Welfare
Social Policy and Reform Studies
Intergenerational Family Dynamics and Caregiving
Original source
Jan 1, 2000ยทThe International Journal of Health Planning and Management
74 cites
Decentralizing rural health services: a case study in China

Shenglan Tang, Gerald Bloom

Many low and middle-income countries have decentralized their public health services in an effort to improve their equity, efficiency and effectiveness. This paper presents a case study of a poor rural county in China that devolved finance and management of basic health services to townships, the lowest level of government. It finds little evidence that townships mobilized additional financial resources or that they were able to address major management problems effectively. It cautions against unrealistically rapid decentralization of health services in poor rural areas. Copyright ยฉ 2000 John Wiley & Sons, Ltd.

2 source records
Healthcare innovation and challenges
Social Policy and Reform Studies
Intergenerational Family Dynamics and Caregiving
Original source
Oct 1, 1993ยทJournal of Cross-Cultural Gerontology
9 cites
International long-term care reform: A demographic, economic, and policy overview

Pamela Doty

Advanced industrial countries around the world are making or contemplating major reforms of their systems for financing and organizing long-term care for the elderly. The paper describes major reform efforts including: the pursuit of cost efficiencies from further differentiation of the acute and long-term care delivery systems, promotion of home and community-based care alternatives to traditional institutions, and โ€˜systems integrationโ€™ involving consolidation of responsibility for long-term care at one level of government. The paper concludes by discussing the special relevance to the long-term care reform debate in the U.S. of recent British and German decisions to, respectively, decentralize versus centralize responsibility for long-term care.

2 source records
Intergenerational Family Dynamics and Caregiving
Migration, Aging, and Tourism Studies
Geriatric Care and Nursing Homes
Original source
Jun 1, 1968ยทDemography
3 cites
Within family planningโ€”Korea

John A. Ross, Oliver D. Finnigan

The Korean family planning program from 1964 to 1968 is considered in its entirety. The program is financed primarily by Korean government appropriations (averaging about $2 million in past years from central and local budgets) but also is supported substantially by foreign agencies such as the Population Council SIDA and AID. The Planned Parenthood Federation of Korea working in cooperation with the government is financed by about $200000 yearly from Korean government and foreign sources. The program has offered the IUD condom and vasectomy to every couple without charge. Accomplishments include adoption of the loop or vasectomy by 1/3 of couples with wife below age 45 elicitation of the best response among illiterate and low-income families and in rural areas reduction of crude birth rate by roughly 10% as of 1968 by IUDs inserted through mid-1968 and launching a pill program for IUD drop-outs starting with an unknown method a population of 30 million was informed of it and their approval won. Approaches used in the program have included strong governmental policy; implementation through the existing health structure; decentralization of functions to local and provincial government levels; payment by government of physicians and fieldworkers involved as well as vasectomy acceptors for work lost; high fieldworker density; fixation of target quotas with positive and negative sanctions on workers; and full use of mass media. Problems to be dealt with involve funding doctorless and remote areas and termination rates. The problems have been obtaining the funds; areas that are doctorless and that are remote; the training of workers; funds for maintenance and supply systems; shortcomings of the present contraceptive methods; and the changing of field-worker duties.

Open access
Diverse Approaches in Healthcare and Education Studies
Intergenerational Family Dynamics and Caregiving
Original source