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

Kangsoo Kim, Hyejin Cho, Sunwook Park and Soyoung Iris You

Transportation Research Part A: Policy and Practice, 2024, vol. 184, issue C

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.

Keywords: Preliminary Feasibility Study (PFS); Uncertainty; Traffic; Cost; Benefit; Benefit-Cost Ratio(BCR) (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1016/j.tra.2024.104097

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