Start Page
Information About the Journal
Magazine Subscription
Thematic profile of the Journal
The latest
Issues List
Editorial Council
Editorial Board
Magazine Representatives
Article Submission Guidelines
Sheluntsova M. A.
Lecturer, Chair of Financial Management, State University Higher School of Economics (Perm’ branch)

Evaluation of the social rate of discounting in the projects of the public sector of economy: international experience (Russia, Perm’)
Evaluation of the social rate of discounting that allows comparing costs and profits of realization of state programs, is one of the most debatable issues related to the effectivity of spending in the public sector of economy when costs and profits are distanced in time. Providing a review of the international practice of discounting, the author stresses that although research in this sphere has been conducted for a considerable time, not much experience has been accumulated in respect to the developing countries
Key words: evaluation of effectivity, social rate of discounting, temporal preferences, social alternative cost of capital, public sector of economy

1. Архипов В.М., Емельянов А.М. Оценка социальной ставки дисконтирования // Финансы и кредит. — 2006. — №17 (221).
2. Емельянов А.М., Шелунцова М.А. Использование подхода ставки межвременных предпочтений для оценки социальной ставки дисконтирования // Корпоративные финансы. — 2007. — №1.
3. Azar S.A. Measuring the US social discount rate. Applied Financial Economics Letters, 2007, 3, 63–66.
4. Azar S.A. A Social Discount Rate for the US. International Research // Journal of Finance and Economics. Issue 25, 2009.
5. Chapman C.B., Ward S.C., Klein J.H. An optimised multiple test framework for project selection in the public sector, with a nuclear waste disposal case-based example // International Journal of Project Management 24 (2006) 373–384
6. Conningarth Economists. A Manual for Cost Benefit Analysis in South Africa / Water Research Commission, Report No. K5, 1132, Pretoria, 2002.
7. Evans D. J. A social discount rate for France. Applied Economics Letters, 11, 2004. — pp. 803–808.
8. Evans D. J. and Sezer H. Social discount rates for six major countries. Applied Economics Letters, 11, 2004. — pp. 557–560.
9. Evans D., Sezer H. Social discount rates for member countries of the European Union. Journal of Economic Studies, Vol. 32, No.1, 2005, pp. 47–59.
10. Kohyama H., Selecting Discount Rates for Budgetary Purposes. Harvard Law School, Federal Budget Policy Seminar, Briefing Paper No. 29, 2006.
11. Kula E. Estimation of a Social Rate of Interest for India // Journal of Agricultural Economics Volume 55, No. 1 2004, pp. 91–99.
12. Lally М. Measuring the US social discount rate: reply to Azar. Applied Financial Economics Letters, 2008, 4, 283–285.
13. Lopez H. The Social Discount Rate: Estimates for nine Latin American countries. The World Bank, Policy Research Working Paper 4639, 2008.
14. Mario du Preez. The Discount Rate for Public Sector Conservation Projects in South Africa. African Development Bank 2004. Published by Blackwell Publishing Ltd 2004, 9600 Garsington Road, 456 Oxford, OX4 2DQ, UK and 350 Main Street, Malden, MA 02148, USA.
15. Pearce D.W., Ulph. D. A Social Discount Rate for the United Kingdom. CSERGE Working Paper 95-01. Centre for Social and Economic Research on the Global Environment, University of East Anglia, UK. — 1995.
16. Percoco M. A social discount rate for Italy. Applied Economics Letters, 2008, 15, 73–77.
17. Rambaud S.C., Torrecillas M. Some considerations on the social discount rate. Environmental Science and Policy 8, 2005, pp. 343–355.
18. The Green Book: Appraisal and Evaluation in Central Government, Treasury Guidance. — London, 2003.

Article in russian

Back to the issue content

Copyright © Problems of Modern Economics 2002 - 2018