Construction of social overhead capital
variable at firm level is described here.
Since the social overhead capital
stock is not officially reported in Korea, it is estimated through the following process.
These features, in interaction with other social and economic conditions, have produced seemingly new challenges of development, such as the dwindling social overhead capital
, including a persistent decline in the per-capita consumption of social services, burgeoning poverty, environmental degradation, unmet needs of voluntary family-size regulation, the prospects of substantial Aids mortality, and the emerging phenomenon of aging.
Indeed, the Basic Plan for Public investment adopted in 1990 substantially increased the amount of budgetary resources allocated to public investment, with priority being given to the improvement of social overhead capital
(expenditures on parks, sewers, waste disposal facilities, etc.
At the same time, in fine with the Basic Plan for Public Investment (1990), more resources are being allocated to public investment: public works spending is scheduled to rise somewhat faster than other spending in the General Account of the Budget, with priority being given to the improvement of social overhead capital
, such as urban infrastructure and transportation.
Such social resources are often called social overhead capital
and they play a very important role in the processes of resources allocation and income distribution in any contemporary society.
XiangJiang Group plays a crucial role as the area's largest functional local-government funding vehicle, helping fund land development and social overhead capital
(SOC) investments pursuant to the local government's development plan.
The National Assembly also passed increased support for local economies, raising the local social overhead capital
(SOC) project budget by 427.