지자체 자가망의 사회적 비용 분석 = An Analysis on the Social Costs of Municipal Wireline Broadband Network Investments

다국어 초록 (Multilingual Abstract)

While municipal investments on wireline networks provide social benefits to the municipal residents, it also incurs significant social costs with respect to recurrent investments and a possible hampering of market competition. Therefore, measuring the actual benefits and costs of municipal wireline networks is paramount in determining whether these investments are socially desirable. In such context, this study attempts to measure quantitatively the social costs of municipal investments on wireline networks using actual data of the Dongtan U-City Plan, where the overlap between the municipal and the private service providers` wireline network facilities appears considerable. It is shown that the actual costs that municipalities bear is far less than that of any efficient entrant willing to enter the market. This outcome is not surprising because the municipalities are donated with substantial amount of expensive network facilities. Eventually the full expenses of constructing municipal wireline networks are to be paid by some other members of the society, and hence should be counted in the social costs. More precisely, the expenses of municipal investments overlapping with the private investments should be included in the social costs. For Dongtan U-City, the cost of the overlaid network, in net present value, is estimated about ￦2.86B. On the top of this estimate, two additional sources of social cost should be accounted for: The first one is the cost of distortion in the existing public sector due to the service provided by the overlaid network, which is estimated about ￦0.9B. The other one is the cost of distortion in the private market triggered by the overlaid network, which is about ￦9.72B. Thus the total social cost of overlaid network is far more reaching than the cost faced by the local government of Dongtan. These cost estimates are obtained assuming that price elasticity of demand is 0.5. The social costs based on other elasticity values are also obtained.

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