Recent empirical work in public finance uses the housing price response to public investment to assess the efficiency of local durable public good provision. This paper explores the theoretical justification for this technique. It points out that the logic justifying the technique for evaluating non-durable public good provision does not translate to the durable case. A model in which investmen...

 This work was supported by the Academy of Korean Studies of the Republic of Korea in year 2012-2013 (AKS-2010-CAA-2101) Energy security has assumed newfound geopolitical importance at the outset of XXI century (Moran and Russell, 2008). Diminishing fossil fuel supplies have led to fears of energy shortages, while rapid economic and population growth have fuelled the demand for cheap, clean and...

The article proposes a new understanding of the phenomenon security as desire state to achieve most favourable trajectory development under existing constraints. concept depends on objective factors and its subjective interpretations that are fixed in strategies programs. In order make these systematic form holistic model consisting them, algorithm for strategical program documents has been dev...