Estimation of the environmental discount rate for Colombia
The 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
Volume (Year): (2008)
Issue (Month): 69 (Julio-Diciembre)
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