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The Reverse Mortgage of Farming Assets as a Viable Option for Rural Welfare

  • Journal of Regional Studies and Development
  • Abbr : JRSD
  • 2014, 23(1), pp.171-191
  • Publisher : Institute for Poverty Alleviation and International Development: IPAID
  • Research Area : Social Science > Area Studies > Regional Studies in general > Comparative / Statistical Regional Studies

PARK, GIL-HWAN 1 Deok-Ho Cho 1

1대구대학교

Accredited

ABSTRACT

This study evaluates the viability of a new method to improve the farmland pension (FP) inKorea so that useful policy implications can be formulated for providing a feasible option forrural elderly welfare. In order to do this, it conducts an analysis of simulated data on the “farming-asset pension”(FAP) as the reverse mortgage of farming assets as a pilot study. Then, based on the results, this study evaluates its economic feasibility and discussesanalytically derived policy directions for post-urbanization welfare improvement especially forthe rural elderly. If this new model continues to turn out viable for alleviating the “aging” ruralelderly’s poverty in changing rural and policy environments, the handed-over land in thenear future can also be systematically divided and integrated for large-scale production. Through this procedural innovation, “aging” rural economies can then be revitalized with theFAP as an integrative system of gradually helping (urban to) rural immigrants settle down (inamenable rural communities) and participate in agribusinesses in this age of “post-urbanization.”

Citation status

* References for papers published after 2022 are currently being built.

This paper was written with support from the National Research Foundation of Korea.