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Development projects

The perverse cut-off rate in cost effectiveness analysis

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Pages 16-22 | Published online: 17 Feb 2012
 

Abstract

Given the loan conditions usually offered for development projects with a heavy import component and concessionary suppliers' credit, it is shown that the effectiveness of raising the discount rate as a screening device is diminished and may, under some conditions, produce results opposite to those it is intended to achieve.

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