Social cost-benefit analysis : a guide for country and project economists to the derivation and application of economic and social accounting prices

Abstract

This paper is intended to interpret, complement and supplement social cost-benefit methodology as previously set forth. It explains for country economists the derivation of a set of national parameters used to estimate economic (efficiency) and social (distributional) accounting prices. This is illustrated with respect to Thailand and (in annexes) for Malaysia and the Philippines, using a suggested set of standard worksheets to facilitate the necessary calculations. The Thai data is then used to re-appraise an agricultural development project: the Tha Bo Pump Irrigation Pioneer Project in Northeast Thailand, in order to illustrate the application of the methodology for project economists. The final part of the paper contains a preliminary evaluation of the methodology, which draws some tentative conclusions about its usefulness and feasibility based on the experience with the case studies reported on in this paper.

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