Cost-benefit Analysis and Rates of Return of Development Projects: An International Comparison
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Bibliographic InfoPaper provided by Centro Studi Luca d\'Agliano, University of Milano in its series Development Working Papers with number 182.
Date of creation: 01 Dec 2003
Date of revision:
Note: In this paper we analyse data on the rates of return of investment projects sponsored by three international institutions: the European Union, the European Bank for Reconstruction and Development, the World Bank. The focus of the paper is on the evaluation of the variability of ex-ante economic rates of return, of financial rates of return and ex-post or re-estimated economic rates of return. We propose a framework of analysis of rates of return variations across projects, sectors, financing institutions, of the wedge between economic and financial, and of the gap between ex-ante and ex-post returns. In principle the same framework could be used for comparing rates of return variability of development projects across countries, time of approval or exit, or other relevant sampling criterion. We discover a pattern of variations across sectors. And we find that cost-benefit analysis generates larger variability of rates of return than financial analysis.
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More information through EDIRC
Investment projects; International Institutions; Rates of return; Cost-benefit;
Find related papers by JEL classification:
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- O22 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Arnott,Richard & Atkinson,Anthony B. & Arrow,Kenneth & Drèze,Jacques H. (ed.), 1997. "Public Economics Real Author-Name:Vickrey,William," Cambridge Books, Cambridge University Press, number 9780521597630, November.
- Gramlich, Edward M, 1994. "Infrastructure Investment: A Review Essay," Journal of Economic Literature, American Economic Association, vol. 32(3), pages 1176-96, September.
- Isham, Jonathan & Kaufmann,Daniel, 1995.
"The forgotten rationale for policy reform : the productivity of investment projects,"
Policy Research Working Paper Series
1549, The World Bank.
- Jonathan Isham & Daniel Kaufmann, 1999. "The Forgotten Rationale For Policy Reform: The Productivity Of Investment Projects," The Quarterly Journal of Economics, MIT Press, vol. 114(1), pages 149-184, February.
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