16 research outputs found

    Trick or Treat? Equity Concerns in the Preliminary Feasibility Study of the Republic of Korea

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    As a project appraisal tool, the preliminary feasibility study (PFS) has contributed to enhancing the efficiency of public investment decision-making in the Republic of Korea over the last two decades. To overcome the limitations of the efficiency-oriented cost-benefit analysis, the PFS accommodates equity concerns among regions, namely balanced regional development (BRD) analysis. This study attempts to gauge the contributions of BRD analysis to PFS results. Specifically, it addresses how effectively policy efforts to promote decision-making have been implemented in the PFS stage while also considering the balance between equity and efficiency in terms of the trade-off between them, the degree to which they influence the results, and whether the consideration of equity is in fact actually reflected in seriously underdeveloped regions as intended. The study finds that the PFS results over the last two decades have been largely in line with the background and policy objectives. Based on the findings of the study, needs for institutional improvement are suggested, including enhancements in the analysis of regional economic ripple effects and taking into account the psychological factors pertaining to the evaluators in the overall judgment

    Essays on Dynamic Discrete Choice Models.

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    This dissertation presents three topics in dynamic discrete choices. Chapter 1 sets up a dynamic model of demand to identify consumers preferences for “newness” of products in a new durable goods market, namely golf drivers market. Forward-looking heterogeneous consumers with preferences for newness of products decide when and what to purchase. The model also accounts for the fact that the market is highly subject to seasonal fluctuations. Using the aggregated data from the US golf drivers market the model succeeds at identifying consumers preference for newness of products when the seasonality and quality differences are controlled for. Experiments with different assumptions are performed to confirm the robustness of the model. Chapter 2 is a joint essay with Yoonseok Lee. This chapter finds that the state legislation decision on the mandatory motorcycle-helmet-use law is affected by the neighboring states’ choices. It turns out that such a social interaction is one of the key factors in this decision making, whereas the fatality rate from motorcycle-related accidents is not so. Using the US state level panel data, the analysis is conducted by developing a mixed proportional hazard model with grouped data, which allows for possible cross sectional duration dependence. It explains a behavioral aspect of the legislative decision making procedure (i.e. social interactions) and empirically shows how the proximity between agents affects the decision making. Chapter 3 deals with a dynamic panel data model where the dependent variable is latent while only its ranking among individuals is observable at each time period. It sets up a dynamic panel data model where the latent dependent variable is characterized by its ranking in the previous period and current exogenous variables along with individual heterogeneity. To overcome a small sample problem when the number of individuals is large and the number of time periods is small, it uses the explosion property of logit models with ranked data. As an application, it applies the econometric model to the panel ranking data of the best states for business announced by Forbes magazine. It finds a significant relation between lagged ranking, along with selective covariates, and current business environment.PHDEconomicsUniversity of Michigan, Horace H. Rackham School of Graduate Studieshttp://deepblue.lib.umich.edu/bitstream/2027.42/94021/1/yearn_1.pd

    Political Support and Voluntary Tax Compliance

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    We empirically analyze the effect of political support for the government on voluntary tax compliance. To this end, we use 33 survey results of the contingent valuation (CV) method developed and widely used for the valuation of non-market goods in the field of environmental economics. The degree of political support for the government is observed by the results of weekly national polls. Estimation results using probit models reveal the political support for the government has a statistically significant positive effect on voluntary tax compliance. Tax compliance is high when a taxpayer lives in the stronghold of the current president’s party, which also implies a positive correlation between the political support and voluntary tax compliance. Moreover, consistent with previous studies, the higher the education level, the more compliant the taxpayers are. Income and tax compliance has a negative correlation, but in previous studies, the relationship was mixed

    Easier Set Than Done: Stakeholder Engagement as Public-Private Partnership in Regulatory Policy of South Korea

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    An emphasis on public-private partnership (PPP) in the regulatory policy process can overcome the challenges hindering regulatory effectiveness with the emergence of fast developing technologies and new industries. This study attempts to evaluate quantitatively different aspects of institutional settings of South Korean regulatory policy in terms of stakeholder engagement as PPP, using evidence-based data released by the OECD. From the results of the principal component analysis, South Korea can be evaluated as being at a very good level overall in its institutional establishment. Nevertheless, the fact that the outcome of regulatory reforms in South Korea is still insufficient compared with this well-established system suggests that the country should concentrate on improving system operation. Consequently, this study makes policy suggestions to improve regulatory effectiveness through PPP by supplementing the facets that are well-equipped but not feasible with respect to regulatory policy cycle, regulatory governance, regulatory method, and conflict resolution.publishe

    효율성인가, 형평성인가? 한국 인프라투자 지역 배분의 결정요인

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    We used a structural model to determine which aspects of efficiency and equity criteria were advocated in allocating investment in transportation infrastructure by region in the Republic of Korea during the period of 2001–2014. The estimation by the generalized method of moments indicated that the country’s regional allocation of public investment favored equity enhancement rather than efficiency gain. Empirical findings also include evidence of the substitutionary relationship between the investments by the central and regional governments, as well as the excess capital stock of transportation infrastructure compared with the optimum. The infrastructure needs and regional financial conditions had limited effects on the past allocation of investment. Political influence was exerted with respect to electoral productivity rather than partisanship.1

    Enhancing Capacities of Healthcare Industry in Costa Rica for Strengthening Globalization and Fostering Regional Economy

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    Chapter 4 Enhancing Capacities of Healthcare Industry in Costa Rica for Strengthening Globalization and Fostering Regional Economy  Summary  1. Introduction  2. Healthcare Industry in Costa Rica: Needs and Challenges  3. Republic of Korea’s Experience and Implications  4. Policy Suggestions for Costa Rica  ReferencesTRU

    Government support and value for money test for PPP projects in Korea

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    행사명 : G-20 Global Leadership Progra

    Public-private partnerships in Korea

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    행사명 : 2nd G20 Global Leadership Progra

    Public-Private Partnership (PPP) in Korea

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    행사명 : Capacity building Program for Afghanistan Officials in Public Private Partnershi