growth and efficiency dynamics during its process of structural transformation from 1970 to 2016. The analysis includes land … efficiency, while growth-disturbing external macroeconomic shocks, such as joining the WTO and the Asian financial crisis, led to … improvements in allocative efficiency …

' efficiency, by employing the stochastic frontier approach on 14 banks over the period 2001-2010. When lending increases to SMEs …, the findings indicate that banks' cost efficiency decreases due to information asymmetry. However, the increased … proportion of credit guarantee can improve their cost efficiency. This proves that South Korea's credit guarantee system can …