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Uncertainties in the economic analysis of Korea’s preliminary feasibility study

Author

Listed:
  • Kim, Kangsoo
  • Cho, Hyejin
  • Park, Sunwook
  • You, Soyoung Iris

Abstract

Preliminary feasibility studies (PFSs) have become Korea’s unique budgetary and fiscal management system. With a critical role in decisions regarding the viability of a proposed project, a PFS prevents inefficient projects, contributing to securing a budget and thus improving fiscal efficiency. Since the introduction of PFS in 1999, until 2021, 767 corresponding studies have been conducted, and it has become an indispensable component of budgetary decision making in Korea.

Suggested Citation

  • Kim, Kangsoo & Cho, Hyejin & Park, Sunwook & You, Soyoung Iris, 2024. "Uncertainties in the economic analysis of Korea’s preliminary feasibility study," Transportation Research Part A: Policy and Practice, Elsevier, vol. 184(C).
    • Handle: RePEc:eee:transa:v:184:y:2024:i:c:s0965856424001459
    DOI: 10.1016/j.tra.2024.104097
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