The social discount rate and the cost of public funds:a search for more consistency and better practice

Spackman, Michael (2023) The social discount rate and the cost of public funds:a search for more consistency and better practice. Journal of Environmental Economics and Policy. ISSN 2160-6544
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Three, mutually inconsistent approaches to social discounting and the cost of public funds have persisted for fifty years. All have distinguished academic support. All present problems of concept and/or application. This leads to a global loss of cost effectiveness in public spending and regulation. This essay reviews the issues and offers a practitioner’s view on what limited but realistic potential there may be for more consistency and better practice.
Item Type Article
Keywords cost benefit analysis,cost of capital,cost of public funds,equity premium puzzle,public policy appraisal,social discounting
Departments Geography and Environment
DOI 10.1080/21606544.2023.2236062
Date Deposited 24 Jul 2023 14:48
URI https://researchonline.lse.ac.uk/id/eprint/119814

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