Beyond Cost Benefit Analysis: A SAM Model for Project-Program Evaluation

Pasquale Scandizzo and Cufari Daniele
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Cufari Daniele: Independent Researcher

No 18, Working Papers from SITES

Abstract:

This paper presents a new methodology of project evaluation based on the use of a social accounting matrix (SAM). The method proposed considers both the project as an autonomous shock and as an endogenous activity, thus capturing both the demand and the supply side effects, that can be associated to investment. In assessing project impact, these two effects have to be considered complementary, even though they may be combined in different proportions and with different strength in different practical cases. The autonomous dimension is however a distinctive feature of a project as an economic concept. Its consideration has important implications to assess the structural impact of a project as an activity ranging complete isolation to total embeddedness in the economic system. The paper also shows that both in its construction and operational phases the project displays structural effects on the economic system and that these effects may be sizable and may be partly offsetting the direct impact of the project on demand and supply variables.

Keywords: Project; autonomy; embeddedness; structure; social accounting matrix; social rate of return (search for similar items in EconPapers)
JEL-codes: C67 C68 H43 (search for similar items in EconPapers)
Date: 2023-10
New Economics Papers: this item is included in nep-hme and nep-ppm
Note: SITES Working Papers 18
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Persistent link: https://EconPapers.repec.org/RePEc:awm:wpaper:18

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