This dissertation aims at the economic validity of the Taegu Grand Park which is scheduled to construct at the eastern region of Taegu Metropolitan City and the Taegu Sports Complex now on the construction for the preparation of World Soccer Game in ...
This dissertation aims at the economic validity of the Taegu Grand Park which is scheduled to construct at the eastern region of Taegu Metropolitan City and the Taegu Sports Complex now on the construction for the preparation of World Soccer Game in 2002 and Universiad in 2003 through benefit assesment. The dissertation applied methodologically two different valuation methods for the public goods such as parks, environmental goods, and governmental investment to compare the results in the Contingency Valuation Method which gains the ground to assess the public goods in these days and the Net Present Value method in traditional method of the valuation.
The chapter Ⅰ over-viewed the general meaning and purpose of benefit/cost analysis, and the existing researches in literature. The chapter Ⅱ examined the classification of parks and the function, historical background of the park, the listed statistics of the parks in Taegu City, the process of Sport Complex construction and the plan for the maintenance, and the blue print of the Taegu Grand Park.
The chapter Ⅲ studied on the theoretical aspect of the methodology in the valuation methods as CVM and NPV for the public goods in literature and explained the process of the questionnaire design. The chapter Ⅳ analyzed of the socio-economic consciousness of Taegu citizens about the construction of the sport complex facilities and the Grand park plan and applied the methods of benefit/cost analysis to find out the economic validity.
The analysis compared the differences of the result in two methods of valuation in CVM and NPV for more reasonable assesment and measurement of the values to the facilities in the policy. The differences of the amount in money values by the different methods implies the importance of the methodology to decide the investment priority of the public goods as the research result showed. The analysis showed a reasonable reliability in Cronbach Test and the distribution of sex, age, family income, and dwelling region was considerably dispersed. the average age was 34, average number of the family was 4.1, and average family income was 34,400,000won. Sex influenced the desire for the game watch and male was higher than female. But family income and age was no meaning and dwelling region did not influenced the desire for the game watch.
The degree of recognition of the respondents about the geographical identification of the Taegu Grand Park and the Sport Complex was unexpectedly low. That is, 56% of the respondents answered lower recognition on the geographical identification of the Taegu Grand Park and the Sport Complex due to the lack of public advertisement and the difficult access to the environment of the facilities.
First, the estimated benefits of the Taegu citizens for the construction of the facilities by CVM was 1,409,400,000won in Net Benefit. Even though the existing circumstances of the access is difficult compared to the case of Palgong Mountain Park or Apsan Park, the Taegu Grand Park could be estimated the enough values in economic validity of the investment if the place could serve for the similar level of relaxation, recreation, touristic values, and environmental functions as Apsan Park or Woobang Land which has more than two million visitors in a year.
Second, the result of the estimated Net Benefit for the facilities by NPV was negative 2,558,300,000,000won showing no validity of the valuation method for the public goods as parks in NPV method.
The limitations of the research are vary and yearly net benefit of the facilities is not susceptible because of difficult access to the site. The suggested figure in questionnaire is the images of blue print and it will be at most the scenery of 14 years later from now.
It is not susceptible also in this situation of dwelling and road conditions to invest so much of totally 2,707,800,000,000won. Here the result suggest that Taegu Metropolitan City should find out helpful resolutions for the plan and most important issue will be the transportation to access and the epoch of policy to increase visitors to the facilities as the analysis told us.