CSIL WORKING PAPERS

Cost Benefit Analysis, Development Planning and the EU Cohesion Fund: learning from experience

In this paper our experts consider the experience of transport and environmental evaluation in the framework of the Cohesion Fund, established by the EU in 1993 to co-finance through grants infrastructure projects in Spain, Portugal, Ireland and Greece, and more recently in the new Member States. We focus on the regulatory requirement to provide the Commission a cost-benefit analysis of the investment projects. We assess some recurrent conceptual issues in project appraisal for the Cohesion Fund. In particular we discuss typical omissions and errors we have observed in our reading of large samples of project applications and ex-post evaluations. We propose theoretically consistent and feasible solutions in the most critical areas for the CBA of Cohesion Funds projects.
Download document: wp153.pdf

An international comparison of the Financial and Economic Rate of Return of development projects

This working paper analyses data on the rates of return of investment projects sponsored by three international institutions: the European Union, the European Bank for Reconstruction and Development, the World Bank. The focus of the paper is on the variability of ex-ante economic rate of returns (ERR), offinancial rates of return (FRR, available for EU and EBRD) and ex-post or re-estimated economic rates of return (RERR, available for WB only).
Download document: wp91.pdf

Evaluation of local development policies

After a brief definition of evaluation within the context of local development policies, the paper identifies the main objectives of these policies and tries to define them. In the last 2 chapters it suggests some evaluation tools as well as results that should be achieved through local development policies.
Download document: wp90.pdf

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