The helpful comments of an anonymous reviewer are gratefully acknowledged.
Legal frameworks and credit information systems in China, Korea, and Singapore
Article first published online: 14 MAY 2013
© 2013 Crawford School of Public Policy,The Australian National University and Wiley Publishing Asia Pty Ltd
Asian-Pacific Economic Literature
Volume 27, Issue 1, pages 147–155, May 2013
How to Cite
Han, K., Lee, Y. and Park, C. (2013), Legal frameworks and credit information systems in China, Korea, and Singapore. Asian-Pacific Economic Literature, 27: 147–155. doi: 10.1111/apel.12007
- Issue published online: 14 MAY 2013
- Article first published online: 14 MAY 2013
We analyse the relationship between Public Credit Registries and Credit Bureaus in East Asia by observing credit information markets, in particular, in China, Singapore, and Korea. Singapore's credit information system consists of only a Credit Bureau. China and Korea have gone in different directions. Public Credit Registries play the role of credit information sharing in China, while Public Credit Registries and Credit Bureaus coexist in Korea. The results suggest an important relationship between the development of financial markets and credit information systems. The lower the income level and the heavier the government's hand in financial markets, the greater the need for Public Credit Registries; whereas, financial liberalisation and rising incomes encourage Credit Bureaus.