미국의 정책금융제도에 관한 서설적 고찰 -관련법제의 소개를 중심으로-

In market-driven economies, state implements functions to correct market failure since it is more efficient and successful than the private enterprises. Even in the United States of America, the multi-channel financing on the federal level has been regarded as the fundamental way to solve the fund shortage in the development of various industries. The purpose of this Study is to present an overview of a variety of policy-based finance programs in the U. S. In the U.S., the practice of direct or indirect financing or guarantee through the federal institutions is an important mode of financing. The federal government entrusts enforcement of policy-based financing to specialized governmental organizations, which are so-called government-sponsored enterprises(GSEs). The areas in which the policy-based financial means are involved are as follows: First of all, to satisfy the basic needs of the population, the U.S. government and the GSEs have been developing an operational housing finance system. Secondly, since adequate housing and private home ownership are essential elements to the development of farm and rural communities, the federal government and the GSEs have tried to develop financial systems to support credit growth of farmers. Thirdly, the Small Business Administration, a federal institution, has focused on the promotion of small businesses as one of the top priorities and accelerated to develop the financing system for them. This institution has worked as a gap lender in order to realize the poverty reduction by increasing the employment. Fourthly, As a mode of educational financing, the policy-based loans, characterized by long durations, and fixed and low-interest rates, are provided to college students. Finally, the federal government and the GSEs provide U.S. companies with insurance against risk associated with both export transactions and overseas investments.