This paper studies the optimal structure of procurement contracts between public and private sectors by mainly comparing two typical procurement types: traditional procurement and public-private partnership (PPP). We first set up a principal-agent model focusing on bundling effects of...

This paper studies the optimal structure of procurement contracts between public and private sectors by mainly comparing two typical procurement types: traditional procurement and public-private partnership (PPP). We first set up a principal-agent model focusing on bundling effects of...

"The public's awareness of property rights has improved significantly, and judicial authorities, including the Constitutional Court, more frequently rule in favor of property rights protection than ever before. Accordingly, it has become vital that a shift be made with regards to conventional...

Despite the world-highest expenditure in R&D as a percentage of GDP, there is a rising concern that Korean researchers in universities and government-funded research institutes (GRIs) are contributing neither to creating new opportunities for the economy nor to solving big societal challenges....

The public's awareness of property rights has improved significantly, and judicial authorities, including the Constitutional Court, more frequently rule in favor of property rights protection than ever before. Accordingly, it has become vital that a shift be made with regards to conventional...

- Hiring former government officials can provide benefits in utilizing the accumulated knowledge, but also creates problems in that they can be abused as lobbying channels. - One of the primary causes of Korea's savings bank collapse was the hiring of former oversight agency officials and their...