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Measuring the economic benefits from the contaminated soil remediation policy in Korea : A contingent valuation study

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  • Measuring the economic benefits from the contaminated soil remediation policy in Korea
  • Lim, Seul-Ye; Yoo, Seung-Hoon
  • Universiti Teknologi Malaysia


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Title Measuring the economic benefits from the contaminated soil remediation policy in Korea
Similar Titles
Sub Title

A contingent valuation study

Material Type Articles
Author(English)

Lim, Seul-Ye; Yoo, Seung-Hoon

Publisher

[Johor]:Universiti Teknologi Malaysia

Date 2015-12
Journal Title; Vol./Issue Jurnal Teknologi:Vol. 78(No. 5-4)
Pages 6
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Territorial Development < National Land Development
Holding Universiti Teknologi Malaysia

Abstract

Soil contamination caused by economic growth through industrialization and urbanization has been progressed in Korea. Soil polluted with heavy metals and chemicals makes significantly negative effects on human and wildlife health. This paper attempts to measure the economic benefits from the contaminated soil remediation policy using a specific case study of Korea. To this end, the contingent valuation (CV) method is employed. A CV national survey of randomly selected 500 households was implemented using person-toperson interviewing in May 2105. To elicit the willingness to pay (WTP), we apply one-andone-half bound dichotomous choice question format to reduce the potential for response bias and spike model to deal with zero willingness to pay (WTP). The mean WTP for the policy is estimated to be KRW 1,357 (USD 1.2) for next ten years per household per year and statistically significant at the 1% level. (The rest omitted)