International Journal of Highway Engineering (한국도로학회논문집)

Korean Society of Road Engineers (한국도로학회)
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Contribution of Road Capital in Industry and Optimal Level of Road Capital in South Korea

한국 도로 자본의 산업에 대한 영향과 도로자본 스톡의 최적수준 분석

  • 국우각 (서울연구원 교통시스템연구실)
  • Received : 2013.01.27
  • Accepted : 2013.05.27
  • Published : 2013.06.17
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Abstract

PURPOSES: This study is to suggest the Contribution of Road Capital in Industry and Optimal Level of Road Investment in South Korea METHODS: Based on the literature review, This research is empirically estimated using disaggregate and disaggregated data composed of 10-sectors covering the entire korea economy for the period 1970~2000. The relevant policy questions addressed in this report are : cost reduction and Scale elasticities of road, effect of road capital stock on demand for labor, capital and materials, marginal effect of road, industry TFP growth decomposition, Net Social Rates of Returns, optimal of road capital. RESULTS : The marginal benefits of the road capital at the industry level were calculated using the estimated cost elasticities. Demand for the road capital services varies across industries as do the marginal effects. The marginal benefits are positive for the principal industries. This suggests that for these industries the existing stock of road capital may be under supplied. CONCLUSIONS: This results emerges is that the ratio of the optimum to actual road capital, measured by road, was high at beginning of the period 1970s and declined 1990s. There appears to be evidence of under-investment in road capital. That is continuous and premeditated investment for road which lead to saving time and finance.

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References

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