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dc.titleReconciliation Once and for All: Economic Impact Evaluation and Social Cost Benefit Analysis
dc.contributor.authorBanerjee, Onil
dc.contributor.authorCicowiez, Martin
dc.contributor.authorMoreda, Adela
dc.contributor.orgunitEnvironment, Rural Development and Risk Management Division
dc.coverageUruguay
dc.coverageLatin America and the Caribbean
dc.date.available2017-09-20T00:00:00
dc.date.issue2017-08-25T00:00:00
dc.description.abstractThere is a debate in the literature on the appropriate methods and metrics for evaluating the economic impacts of tourism investments. Available analytical techniques include input-output modelling, computable general equilibrium modelling, cost benefit analysis, expenditure-based methods, and others. Metrics of benefits often include indicators such as gross regional product, household income and measures of welfare, while the choice of appropriate metrics will in part be conditioned by from whose perspective the analysis is undertaken. In this paper, we capitalize on the strengths of general equilibrium and cost benefit analytical techniques and develop an integrated approach to evaluating public investments in tourism. We apply the approach to the evaluation of a US$6.25 million tourism investment in Uruguay from the perspective of a multi-lateral development bank and the beneficiary government. The approach developed here is powerful in that it captures first and subsequent rounds of investment impacts both on the benefits and costs side; resource diversion and constraints are accounted for, and; the estimation of benefits is consistent with the welfare economics underpinnings of cost benefit analysis.
dc.format.extent24
dc.identifier.doihttp://dx.doi.org/10.18235/0000823
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Reconciliation-Once-and-for-All-Economic-Impact-Evaluation-and-Social-Cost-Benefit-Analysis.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectEconomic Impact
dc.subjectTourism Infrastructure
dc.subjectCost-Benefit Analysis
dc.subjectEx Ante Evaluation
dc.subjectComputable General Equilibrium
dc.subjectInvestment in Tourism
dc.subject.jelcodeZ3 - Tourism Economics
dc.subject.jelcodeO2 - Development Planning and Policy
dc.subject.jelcodeD61 - Allocative Efficiency • Cost—Benefit Analysis
dc.subject.jelcodeC68 - Computable General Equilibrium Models
dc.subject.jelcodeO1 - Economic Development
dc.subject.keywordsex-ante economic impact analysis, cost benefit analysis, dynamic computable general equilibrium model, welfare economics, tourism investment analysis, tourism development, Uruguay
dc.typeWorking Papers
idb.identifier.pubnumberIDB-WP-835
idb.operationUR-L1113
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