ISA 계좌의 가입자 특성과 저축 및 자산구성 효과

초록

This study, based on survey data, measures the effectiveness of ISA accounts in terms of savings volume and asset composition. Furthermore, we identified the characteristics of ISA account holders and conducted a limited equity analysis to explain their ISA account utilization through proxy variables such as the proportion (or size) of ISA account assets and the choice of ISA account management type. First, the effectiveness analysis revealed that ISA holders significantly increased their savings and risky asset allocation compared to non-holders. This suggests that ISA accounts can contribute to alleviating the financial imbalance among Korean households, which are heavily weighted toward safe assets. Furthermore, the equity analysis revealed that young people and individuals with monthly incomes of less than 3 million won are less likely to subscribe to ISAs, while ISA utilization was highest among those with an average monthly income of 3~4 million won. Therefore, it seems necessary to consider the need for a separate tax support program or fiscal spending program to encourage asset formation for the young (low-income) group with low utilization of ISA savings accounts.

키워드