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A social discount rate for Turkey

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  • Halicioglu, Ferda
  • Karatas, Cevat

Abstract

ocial Discount Rate (SDR) is a very crucial policy parameter in public project appraisals due to its resource allocation impacts. This study estimates an SDR for Turkey using the Social Time Preference Rate (STPR) approach. The elasticity of the marginal utility consumption, which is the most important component of the STPR, is estimated econometrically from a demand for food approach during the period of 1980-2008. The overall result indicates that the SDR for Turkey is 5.06%. The European Union requires evaluation of the publicly supported commercial projects in terms of the SDR; hence the findings from this study can be used as a useful policy measurement for a full EU member candidate country, Turkey.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 32925.

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Date of creation: 2011
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Handle: RePEc:pra:mprapa:32925

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Keywords: ocial discount rate; social time preference; project appraisal; ARDL; Turkey;

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  1. Elliott, Graham & Rothenberg, Thomas J & Stock, James H, 1996. "Efficient Tests for an Autoregressive Unit Root," Econometrica, Econometric Society, Econometric Society, vol. 64(4), pages 813-36, July.
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  7. David Evans & Haluk Sezer, 2002. "A time preference measure of the social discount rate for the UK," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 34(15), pages 1925-1934.
  8. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, Econometric Society, vol. 49(4), pages 1057-72, June.
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  10. Lopez, Humberto, 2008. "The social discount rate : estimates for nine Latin American countries," Policy Research Working Paper Series, The World Bank 4639, The World Bank.
  11. Paresh Kumar Narayan, 2005. "The saving and investment nexus for China: evidence from cointegration tests," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 37(17), pages 1979-1990.
  12. David J. Evans & Haluk Sezer, 2005. "Social discount rates for member countries of the European Union," Journal of Economic Studies, Emerald Group Publishing, Emerald Group Publishing, vol. 32(1), pages 47-59, January.
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  14. David Evans, 2004. "A social discount rate for France," Applied Economics Letters, Taylor & Francis Journals, Taylor & Francis Journals, vol. 11(13), pages 803-808.
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