Voting Participation in the 2022 Presidential Election and Affective Polarization: focus on Negative Voting

Ka, Sangjoon

doi:10.32355/oughtopia.2023.02.37.3.113

Cited by 1 publication

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“…In Korea, the theory of partisanship came to be applied to political behavior and policy processes, as ideological divisions among political elites intensified after the 2000s (Kang 2012; Ka 2016). In the mid‐ to late‐twentieth century, some Koreans exhibited a tendency to prefer the “middle,” and the terms “left” and “right” lost meaning.…”

Section: Partisanship and Housing Market Regulatory Policy In Koreamentioning

confidence: 99%

Partisanship, Regulation, and Volatility in South Korea's Housing Market

Oh,

Lee,

Heo

2023

World Affairs

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South Korea's mortgage loan policy, which represents a regulatory policy for stabilizing the housing market, has changed significantly in accordance with changes in presidency and partisanship. Which partisan government's housing policy has been most effective in stabilizing the market? To answer this question, we discuss the different partisanships of Korea's conservative and progressive parties, their policy preferences, and the previous governments’ key housing policies. Thereafter, we concretize the research methodology and examine the housing volatility witnessed since 1987, using the Markov-switching regression. The results reveal that the market was highly unstable when the progressive government actively promoted regulation in favor of “governmentalist” partisanship. Moreover, the policy was mostly effective in lowering apartment prices in Seoul, which was the regulation's primary target all along. Based on these findings, we conclude with some policy implications of the study. Given that governmentalist partisanship heightens volatility in the housing market, housing market policies should be designed to hedge the negative externalities of partisanship.

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Section: Partisanship and Housing Market Regulatory Policy In Koreamentioning

confidence: 99%