Table 7 Potential generic policies for improving Korea's climate finance

Problems	Market failure (MF)	Limitation of competitive framework (LCF)	Government failure (GF)
	Information asymmetry	Problem of uncertainty	Bureaucratic failure and diffusion of authority
Generic policy solutions	• Rules: Setting a new law or regulation for private investors to share information and facilitate their investment• Insurance and cushions: Applying new financial instruments to lower private investors' risks		• Rules: Setting a new law to integrate ODA implementation
			• Rules: Setting a new law to change governance in climate change policy

Source: (Weimer & Vining, 2017), reorganized by author.
ODA, Official Development Assistance.