The social discount rate in the evaluation of investment projects: an application for Ecuador

cepal.articleNo4
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2021/13-P
cepal.docTypeRevistas
cepal.jelCodeO22
cepal.jelCodeD04
cepal.jelCodeC93
cepal.jobNumberRVI134_Castillo
cepal.physicalDescriptiongráficos., tablas.
cepal.regionalOfficeSantiago
cepal.topicEngECONOMETRICS
cepal.topicEngINVESTMENT
cepal.topicEngPROGRAMME AND POLICY EVALUATION
cepal.topicSpaECONOMETRÍA
cepal.topicSpaEVALUACIÓN DE POLÍTICAS Y PROGRAMAS
cepal.topicSpaINVERSIÓN
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorZhangallimbay, Donald
dc.contributor.authorCastillo, José Gabriel
dc.coverage.spatialEngECUADOR
dc.coverage.spatialSpaECUADOR
dc.date.accessioned2021-12-01T23:50:46Z
dc.date.available2021-12-01T23:50:46Z
dc.date.issued2021-08-31
dc.description.abstractThe standard social discount rate of 12% applied by planning institutions and multilateral agencies when evaluating public projects is a constant administrative parameter that is unsupported and unresponsive to changes in social preferences over time. This paper presents an alternative way of determining the social discount rate based on the gamma estimation model (Weitzman, 2001) in a developing-country context, which has three advantages: (i) it incorporates decreasing discounting, (ii) it is cost-efficient in that it sums up the various expert opinions and (iii) it adjusts for changes in short- and long-term preferences. Our estimates are lower than the standard nominal rate for different time periods, ranging from 2% for evaluation horizons longer than 51 years to 11% for the short term (0–5 years).
dc.formatTexto
dc.format.extentpáginas. 75-9
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2021/13-P
dc.identifier.urihttps://hdl.handle.net/11362/47523
dc.language.isoeng
dc.physicalDescriptionp. 75-95 : grafs., tabls.
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.isPartOfSeriesNo134
dc.relation.translationLanguagespa
dc.relation.translationRecordLa tasa social de descuento en la evaluación de proyectos de inversión: una aplicación para el Ecuador
dc.relation.translationUrihttps://hdl.handle.net/11362/47285
dc.rights.coarDisponible
dc.subject.unbisEngINVESTMENTS
dc.subject.unbisEngDEVELOPMENT PROJECTS
dc.subject.unbisEngPROJECT PREPARATION
dc.subject.unbisEngPROJECT EVALUATION
dc.subject.unbisEngEQUALITY
dc.subject.unbisEngWELFARE ECONOMICS
dc.subject.unbisEngMATHEMATICAL MODELS
dc.subject.unbisEngDEVELOPING COUNTRIES
dc.subject.unbisSpaINVERSIONES
dc.subject.unbisSpaPROYECTOS DE DESARROLLO
dc.subject.unbisSpaPREPARACION DE PROYECTOS
dc.subject.unbisSpaEVALUACION DE PROYECTOS
dc.subject.unbisSpaIGUALDAD
dc.subject.unbisSpaECONOMIA DEL BIENESTAR
dc.subject.unbisSpaMODELOS MATEMATICOS
dc.subject.unbisSpaPAISES EN DESARROLLO
dc.titleThe social discount rate in the evaluation of investment projects: an application for Ecuador
dc.type.coarrevista
dc.usergroupbiblioteca
dspace.entity.typePublication
relation.isAuthorOfPublicationd708008e-1810-46b4-a40d-4f79572a57c2
relation.isAuthorOfPublicationff5f56f4-1fc2-40e5-ab41-d0233179c4da
relation.isAuthorOfPublication.latestForDiscoveryd708008e-1810-46b4-a40d-4f79572a57c2
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