The most important thing in public investment management is to select those projects that meet local demand and policy purposes. This study attempted, for the first time, an empirical analysis of whether the current public investment project selection...
The most important thing in public investment management is to select those projects that meet local demand and policy purposes. This study attempted, for the first time, an empirical analysis of whether the current public investment project selection system properly reflects the regional characteristics of the demand side. For the analysis, we linked the preliminary feasibility study data and regional characteristic data. As a result of the analysis, regional characteristics, such as population density, population growth rate, and manufacturing worker ratio increased the selection score. This means that the current public investment project selection system is related to the regional characteristics of the demand side. However, the size of the effect is ambiguous because it varies depending on the type of project and is not large enough to influence the selection.