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Infrastructure development in Korea

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Frame of Image  ..…… 55 2 Conclusion and Discussion ……… 69
III.
IV.
V. 
I.
The Concept and Importance of Infrastructure
1.1. Infrastructure Defined
•
According to the World Bank (1994)
. it refers to those services, essential to the economic activities: consumption, production and distribution . Serves as agent for economic development: e.g., energy, transport, sea & air ports, internet networking etc.
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The Bank classifies 3 types of infrastructure:
. public utilities: telec ommunic ations, power, piped water supply, sanitation and sewerage, solid waste collection and disposal, and piped gas; . public works: roads, major dams and canal works for irrigation and drainage, . other transport sector: urban and inter-urban railways, ports, waterways, airports, and urban transport systems in general
3
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Importance of Infrastructure - Often interchangeably used with social overhead capital (SOC) , a concept that was defined by such development economists as R. Nurkse and A. Hirshman - Primarily related to activities that share such technical and economic features as economy of scale and spillovers from users to non-users (the World Bank) - A measure of global competitiveness – hard infra s uch as transportation, energy, water, sanitation and telecommunication, and soft infra such as education, health, safety, etc. - and competitive edge in the world trade by reducing logistics and transaction costs
4
1.2. The Role of Infrastructure in Economic Growth
• Plays multiple roles;
-Provides indispensabl


Full Text
Title Infrastructure development in Korea
Similar Titles
Material Type Proceedings
Author(English)

Kim, Jeong-ho

Publisher

Sejong, South Korea : KDI School of Public Policy and Management

Date 2016
Event

2016 Workshop on Economic Development Strategy and Innovation - Policy for SICA Countries

Event [Workshop] 2016 Workshop on Economic Development Strategy and Innovation - Policy for SICA Countries
Pages 75
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Industry and Technology < Construction
Holding KDI School of Public Policy and Management
License