Estimation of the environmental discount rate for Colombia
AbstractThe main purpose of this article is to describe and apply a methodology to estimate the discount rate on long-term projects, such as those related to environmental conservation and global climate change, for Colombia. The applied methodology is known as gamma discount. For the application of this method, a survey of 120 Colombian economists was conducted. This yielded a much smaller discount rate than the social rate of discount typically used in the economic evaluation of domestic long-term projects. Additionally, the obtained estimations allow verifying the decline in time of such a discount rate
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Bibliographic InfoArticle provided by Universidad de Antioquia, Departamento de Economía in its journal LECTURAS DE ECONOMÍA.
Volume (Year): (2008)
Issue (Month): 69 (Julio-Diciembre)
Postal: Lecturas de Economía, Departamento de Economía, Calle 67, 53-108, Medellin 050010, Colombia.
Find related papers by JEL classification:
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
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