Abstract
The agricultural infrastructure projects exceeding a certain amount should be by law conducted a preliminary feasibility study by the Public and Private Infrastructure Investment Management Center (PIMAC) of Korea Development Institute (KDI). The results of the study are crucial for the projects to be funded and implemented. However, there have been some issues for the method of calculating the economic benefits. The main issues contain which benefits are included, how to evaluate the marginal effects of the projects, and which concept is applied among gross income, income and profit. Thus, this paper is designed to suggest a common method for calculating the economic benefit of agricultural infrastructure projects.
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