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Cost–Benefit Analysis and Incentives in Evaluation

The Structural Funds of the European Union Edited by Massimo Florio, Professor of Public Economics, Department of Economics, Management and Quantitative Methods, University of Milan, Italy and Scientific Coordinator, EUsers Jean Monnet Network
This book provides an authoritative contribution to applied cost–benefit analysis (CBA) and other evaluation methods in the context of the regional policy of the European Union. Through the use of Structural Funds and other financial and regulatory mechanisms, the EU will help to promote thousands of infrastructure projects in the next decade. CBA will be a key ingredient in the investment decision process and the authors provide important insights from their international experiences in project appraisal and evaluation and point to some valuable lessons to be learnt for the future.
Extent: 352 pp
Hardback Price: £103.00 Web: £92.70
Publication Date: 2007
ISBN: 978 1 84720 238 3
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  • Economics and Finance
  • Public Sector Economics
  • Valuation
  • Environment
  • Transport
  • Valuation
This book provides an authoritative contribution to applied cost–benefit analysis (CBA) and other evaluation methods in the context of the regional policy of the European Union. Through the use of Structural Funds and other financial and regulatory mechanisms, the EU will help to promote thousands of infrastructure projects in the next decade. CBA will be a key ingredient in the investment decision process and the authors provide important insights from their international experiences in project appraisal and evaluation and point to some valuable lessons to be learnt for the future.

Some key questions addressed by the expert contributors include:

• How should a planner design incentives to stimulate evaluation efforts in project appraisal?
• What can we learn from the evaluation experience at the European Commission, the European Investment Bank, The European Bank for Reconstruction and Development and the World Bank?
• What is the appropriate shadow price of time for Trans-European networks in transport?
• Is there a consensus on the value of the statistical life in environment projects?
• Should we use one unique European social discount rate or several?

Edited by Massimo Florio, a leading expert in CBA and author of the EC, Guide to Cost–Benefit Analysis of Investment Projects (2002), this book will be warmly welcomed by practitioners in investment planning and evaluation, students in public economics, planning, development and European studies, and academics and researchers of CBA and applied welfare economics.
Contributors: F. Angelini, G. Atkinson, J. Carbajo, G. Carbonaro, G. De Rus, D. Evans, M. Florio, P.-O. Johansson, E. Kula, A. Mairate, S. Mourato, R. Picciotto, E. Quinet, P. Scapecchi, H. Sezer, M. Spackman
Contents:

Preface

1. Introduction: Multi-government Cost–Benefit Analysis, Shadow Prices and Incentives
Massimo Florio

PART I: LEARNING FROM INTERNATIONAL EXPERIENCE
2. Cost–Benefit Analysis and EU Cohesion Policy
Andrea Mairate and Francesco Angelini

3. Assessing Projects and Programmes for Cohesion Policy at the EIB
Gianni Carbonaro

4. Assessing the Contribution of Investment Projects to Building a Market Economy: Beyond Cost–Benefit Analysis?
José Carbajo

5. Is Development Evaluation Relevant to the European Project?
Robert Picciotto

PART II: PROJECT EVALUATION IN TRANSPORT AND ENVIRONMENT
6. Economic Evaluation and Incentives in Transport Infrastructure Investment
Ginés De Rus

7. Cost–Benefit Analysis of Transport Projects in France
Emile Quinet

8. Environmental Valuation: A Brief Overview of Options
Giles Atkinson and Susana Mourato

9. On the Definition and Estimation of the Value of a ‘Statistical Life’
Per-Olov Johansson

10. Economic Evaluation in Environmental Policymaking and Implications for Children
Pascale Scapecchi

PART III: KEY PARAMETERS FOR APPLIED COST–BENEFIT ANALYSIS
11. Social Discount Rates for the European Union: An Overview
Michael Spackman

12. Social Discount Rates for the European Union: New Estimates
David Evans

13. Regional Welfare Weights
Erhun Kula

14. Derivation of Regional Welfare Weights: An Application to Turkey
Haluk Sezer

Index