Publisher's Synopsis
This book reviews recent advances in techniques for evaluating public investment projects. Divergent evolutions of the theory and practice of cost-benefit analysis have led analysts to question the credibility and operational significance of shadow-pricing conventions currently used by international organizations and governments for the selection of projects to be financed in LDCs as well as developed countries. The book aims to help practitioners choose between alternative shadow-pricing rules proposed in the literature and to force theoreticians to consider the actual operational significance of their modelling devices.
