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Measuring the economic benefits of human resources project : The case of the Honam economic region in Korea

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Frame of Image corporate capabilities and strengthening human resources. The above projects are considered public goods. If a public program(or project) is implemented, the costs of the program will be incurred, with the expectation that the ensuing benefits will be reaped. Thus, verifying not only economic efficiency and effectiveness, but also economic validity is important when implementing such projects. Therefore, the evaluation of such policies is of critical importance in public policy management. Employing economic efficiency and validity as a criterion, policies should be evaluated in a conventional cost-benefit analysis(CBA) context. But the economic benefits of public goods(or services) are difficult to determine since there no markets for certain public goods and services and, therefore, prices are not available. There are no objective and standardized methods for measuring the
economic benefits of public goods such as human resources projects and corporate-oriented service. Therefore, the search for the methods measuring economic benefits is key in the area of CBA. The main objective of this paper is to measure the economic benefits of the Human Resources Project in monetary terms, using the case of the Honam Economic Region in Korea. This is done in order to provide policy-makers with useful information to make informed decisions for policies, and so that the objectivity and validity of these decisions can be ensured. To this end, we are reporting the findings of the applicati


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Title Measuring the economic benefits of human resources project
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Sub Title

The case of the Honam economic region in Korea

Material Type Reports
Author(English)

Kim, Chan-Jun; Song, Ha-Yool

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2011
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 16(no. 1)
Pages 9
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < General
Social Development < Employment
Holding KIET; KDI School

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