Shadow pricing agricultural projects: an approach using unknown parameters
Potts, David J.
Potts, David J.
Publication Date
1990
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Abstract
The ‘Modified UNIDO Approach’ to economic analysis of projects is described. It was used in Tanzania when no national parameters were available for shadow pricing. The main features are: the choice of a domestic price numeraire; the use of cost breakdowns rather than composite conversion factors, and their application on a year-by-year basis rather than to present values; the treatment of the shadow exchange rate as an unknown and the presentation of results as a matrix of NPV values relating to different combinations of parameters; and calculation of the domestic resource cost of foreign exchange to rank the efficiency of projects in earning or saving foreign exchange.
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Potts D (1990) Shadow pricing agricultural projects: an approach using unknown parameters. Project Appraisal. 5(3): 167-174.
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