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KMID : 1023720120580010061
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Journal of Welfare for the Aged
2012 Volume.58 No. 1 p.61 ~ p.87
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A cost-benefit analysis on the economic effectiveness of job creation project for elderly
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Ko Ho-Tae
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Abstract
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The study implemented a cost-benefit analysis on the job creation project for elderly, which is implemented in Songpa-gu, Seoul. This study performed the cost-benefit analysis in the perspective of non-participants(the government or taxpayers) , participants, and the society as a whole. As a result, job creation project in the public sector has generated the benefits in the perspective of non-participants, participants, and the society as a whole. In the sub-project of the private sector, whereas insignificant net costs were generated in the perspective of non-participants, the net benefits were generated in the perspective of participants and in the perspective of the society as whole. Integrating the public and private sectors, the project in Songpa-gu demonstrated net benefit, as a whole, meaning that the projects have economic effectiveness. Furthermore, the net benefits have been slightly reduced when the opportunity cost was applied, but the conclusion that the projects were economically effective has not been changed.
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KEYWORD
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Job-creation projects for the elderly, cost-benefit analysis, economic effectiveness
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