Social Contribution and Optimal Level of Road Capital in South Korea (한국 도로자본의 최적수준과 사회적 기여)

Kook Woo-Kag (국우각)

doi:10.15793/kspr.2013.77..007

Social Contribution and Optimal Level of Road Capital in South Korea

The Korea Spatial Planning Review
2013, 77(), pp.103-117
DOI : 10.15793/kspr.2013.77..007
Publisher : 국토연구원
Research Area :

Kook Woo-Kag ¹

¹서울연구원 교통시스템연구실 초빙연구위원

Accredited

ABSTRACT

In order to better inform decision-makers, more work should be done. More work should be done to analyze how Road investments and the provinces impact national economic growth and competitiveness. More work should also be conducted to understand the costs and benefits of Road investments and their industry specific impacts across national. Using a set of “aggregated” estimates, we calculated the “optimum” level of road capital and compared it with its actual level over the period 1970~2007. This results emerges is that the ratio of the optimum to actual road capital, measured by road, was high at beginning of the period 1970s and declined 2000s. There appears to be evidence of under-investment in road capital. That is continuous and premeditated investment for road which lead to saving time and finance. Contribution of the road capital of total factor productivity growth was positive (+) in the total industrial. The degree of contribution to total factor productivity growth in the total industry was disembodied technical change, an exogenous demand effect, road capital effect. In addition, Road capital contribution in about 0.13 which compared with reported estimates in the literature is relatively small.

KEYWORDS

Optimal Level of Road Capital, TFP, Net Social Rates of Returns, Demand Function, Cost Function

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* References for papers published after 2023 are currently being built.

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The Korea Spatial Planning Review 2023 KCI Impact Factor : 1.2

Social Contribution and Optimal Level of Road Capital in South Korea

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Citation status

* References for papers published after 2023 are currently being built.

The Korea Spatial Planning Review 2023 KCI Impact Factor : 1.2

Social Contribution and Optimal Level of Road Capital in South Korea

ABSTRACT

KEYWORDS

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* References for papers published after 2023 are currently being built.