Estimation of Shadow Prices for Project Evaluation in Pakistan

Muhammad Khan
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Muhammad Khan: Pakistan Institute of Development Economics,Islamabad

The Pakistan Development Review, 1979, vol. 18, issue 2, 129-145

Abstract: The purpose of this paperl is to estimate shadow prices of capital and labour for use in the social evaluation of projects.2 The Harberger approach [7] has been used here to estimate the shadow discount rate. Apart from being one of the few demonstrations of the empirical estimation by this approach in'literature this is the correct method of. estimating the shadow discount rate where the marginal social value is not equal to the marginal social cost of funds at market equilibrium due to the presence of various distortions

Date: 1979
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