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Analyzing an Economic Feasibility for Restoration/Creation of Artificial Tidal Flats
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  • Journal title : Ocean and Polar Research
  • Volume 25, Issue 4,  2003, pp.593-601
  • Publisher : Korea Institute of Ocean Science & Technology
  • DOI : 10.4217/OPR.2003.25.4.593
 Title & Authors
Analyzing an Economic Feasibility for Restoration/Creation of Artificial Tidal Flats
Nam, Kwang-Hyun; Oh, Wee-Yeong;
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 Abstract
The purpose of this paper is to investigate economic feasibility of creating artificial tidal flats using cost-benefit analyses. We assumed that the cost factors are associated with designing, construction and monitoring, and the benefit factors are associated with fisheries production, habitation, prevention of disasters, water purification, aesthetic value and existence value. First, for analyzing economic feasibility, the scenario suggests that a design can be made in a year, construction can be completed in three years and monitoring must be made for 20 years. Assuming the discount rate of 7.5%, economic feasibility analyses showed that B/C was 2.26 and IRR was 14.50. This study indicated there is economic validity of implementing creation of artificial tidal flat. In addition, we carried out a sensitivity analysis at the change of discount rate and restoration rate. The result of sensitivity analysis clearly showed that economic validity is low when discount rate is over 15%, and changes in restoration rate did not significantly effect on the economic validity.
 Keywords
Economic feasibility;Restoration;Creation;Artificial tidal flats;
 Language
Korean
 Cited by
1.
Estimating Benefits of Improving Water Quality in the Largest Remaining Tidal Flat in South Korea, Wetlands, 2012, 32, 3, 487  crossref(new windwow)
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