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Public financed infrastructure development : Implications

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Frame of Image cluding Remarks
1
Three Factors That Changed Korea
 Planning and coordinating role of EPB
 
Formulated a series of Five-Year Economic Growth Plan The Budget Office coordinated policies aligned with the plan by setting project priority with budgeting power
 Educated cheap labor

In a resource poor country, the mandatory free education system contributed to massive supply of literate labor. The mandatory free education combined with land reform has improved social mobility by providing motivation of success.
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 Infrastructure development

Infrastructure projects that have strong linkage with higher economic growth strategy
Under tight budget constraint, EPB allocated budget to the projects which can attain growth target in effective way.

2
Role of Infrastructure Development
3
Functions of Infrastructure
 Infrastructure development contributes to the productivity of firms, and quality of lives of people. ① Output / Productivity increase

Infrastructure is a factor of production used by firms free of charge or at lower price  lowered production cost
Y = f (L, K, L, Infrastructure)
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② Promote regional economic growth
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Decrease price difference and expand market with increased mobility
Transpor t cost  production cost  price reduction  demand increase  more private investment
③ Induce private investment

 For these reasons in addition to huge capital investment requirements, infrastructure development has been regarded as a public sector’s role
4
Project Selecti


Full Text
Title Public financed infrastructure development
Similar Titles
Sub Title

Implications

Material Type Proceedings
Author(English)

Park, Hyeon

Publisher

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

Date 2017-07
Event

Capacity building Program for Afghanistan Officials in Public Private Partnership

Event [Workshop] Capacity building Program for Afghanistan Officials in Public Private Partnership
Pages 55
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