THE ECONOMICS OF PROJECT APPRAISAL AND THE ENVIRONMENT
New Horizons in Environmental Economics Series
There is an increasing awareness that new development projects can have a significant impact, positive and negative, on the environment with repercussions at both national and international levels. The Economics of Project Appraisal and the Environment illustrates the current state of knowledge on the problem of incorporating environmental effects into practical project appraisals.
Under the editorship of John Weiss, a distinguished group of economists has prepared papers which address issues relating to project appraisal and environmental effects in developing countries. The areas covered include data problems for project analysis, the appropriate discount rate to allow for environmental effects, the carbon storage value of forests, indirect environmental effects from a large mining project in the Brazilian Amazon, the implications of global warming for project appraisal, the use of multi-criteria analysis and some of the limitations in concepts of sustainable development. The contributors argue that although cost-benefit calculations remain an important tool, they require modification to take account of environmental effects.
Adopting no single position, the papers in this collection show the complexities of alternative approaches to environmental appraisal. Bringing together expert opinion on an important but often neglected issue, this book will be welcomed by academic and professional development economists seeking a clearer view of the environmental implications of development.
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What Reviewers Are Saying
`This is an interesting book which surveys many issues of wide relevance to environmental economics and to project analysis and appraisal. I would expect that it will provide a source of readings for graduate and undergraduate courses in environmental economics, cost benefit analysis and development economics.' -- Noel P. Russell, The Manchester School `The book brings together expert opinion on an important but often-neglected issue. It will be welcomed by academic and professional development economists seeking a clearer view of the environmental implications of development.' -- Ecodocuments `. . . this is a crisp and accessible book which challenges project appraisers, particularly with regard to the choice of the social discount rate, and the inclusion of global warming impacts in cases where the latter is relevant.' -- Jan Bojo, Development Policy Review