@article{ART001674500},
author={Ryu Deockhyun},
title={A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach},
journal={The Korea Spatial Planning Review},
issn={1229-8638},
year={2012},
volume={73},
pages={83-97},
doi={10.15793/kspr.2012.73..005}
TY - JOUR
AU - Ryu Deockhyun
TI - A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach
JO - The Korea Spatial Planning Review
PY - 2012
VL - 73
IS - null
PB - 국토연구원
SP - 83
EP - 97
SN - 1229-8638
AB - This study aims to evaluate the optimality of SOC investment in Korea. To do this, we employ an endogenous growth model to assess the optimality of SOC investments in the central government, local government, public enterprises, and private-public-partnership investment. The theoretical ratio of SOC investment to GDP is 2~4% with 3~5% of GDP growth rate, 0.255 of output elasticity, and 1~2.5% of depreciation rate of SOC stock. The actual 2004-10 SOC investment to GDP ratios of the central government budget were bounded within a proper scope in the context of central government. However, if local government budgets, public and private investments included, the ratio was significantly increased to 4.28% in 2010, that can be seen to the maximum range. Meanwhile, the investment ratio in the 2011-15 National Fiscal Management Plan on the SOC is shown to be appropriate in terms of this evaluation model.
KW - Endogenous Growth Model;SOC Stock Depreciation Rate;Output Elasticity of SOC Stock;Medium Term Fiscal Management
DO - 10.15793/kspr.2012.73..005
ER -
Ryu Deockhyun. (2012). A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach. The Korea Spatial Planning Review, 73, 83-97.
Ryu Deockhyun. 2012, "A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach", The Korea Spatial Planning Review, vol.73, pp.83-97. Available from: doi:10.15793/kspr.2012.73..005
Ryu Deockhyun "A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach" The Korea Spatial Planning Review 73 pp.83-97 (2012) : 83.
Ryu Deockhyun. A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach. 2012; 73 83-97. Available from: doi:10.15793/kspr.2012.73..005
Ryu Deockhyun. "A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach" The Korea Spatial Planning Review 73(2012) : 83-97.doi: 10.15793/kspr.2012.73..005
Ryu Deockhyun. A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach. The Korea Spatial Planning Review, 73, 83-97. doi: 10.15793/kspr.2012.73..005
Ryu Deockhyun. A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach. The Korea Spatial Planning Review. 2012; 73 83-97. doi: 10.15793/kspr.2012.73..005
Ryu Deockhyun. A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach. 2012; 73 83-97. Available from: doi:10.15793/kspr.2012.73..005
Ryu Deockhyun. "A Study on the Optimality of SOC Investment : An Endogenous Growth Model Approach" The Korea Spatial Planning Review 73(2012) : 83-97.doi: 10.15793/kspr.2012.73..005
