Directives Pour le Calcul des Taux de Rentabilite Financiere et Economique des Projets de SFD (Societes Financieres de Developpement) (Guidelines for Calculating Financial and Economic Rates of Return for DFC Projects)

摘要

These Guidelines, prepared for Bank-assisted Development Finance Companies, explain how to calculate financial and economic rates of return. The approach concentrates on capital productivity and efficiency, and makes no allowance for income distribution effects. The financial rate of return indicates efficiency of resource use in the context of market prices. The economic rate of return indicates efficiency of resource use when prices are adjusted to reflect relative economic scarcities. Traded inputs and outputs are valued at the border, and domestic factors of production are shadow-priced and converted into border prices. The Guidelines offer a series of explanatory notes, standard tables, a note concerning the algebra of the net present value and domestic resource cost measures, illustrative case studies, a glossary of terms and a select bibliography. (Copyright (c) 1985, Banque international pour la reconstruction et le developpement/BANQUE MONDIALE.)