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This updated new edition explores the techniques used to assess the
economic impact of projects in developing countries. Blending an
academic understanding of economics and development with an
accessible style and practical advice, the costs and benefits of
investment projects, an important mechanism for economic
development, are assessed to ensure that resource allocation is as
productive as possible. New material has been added,
particularly on the environmental impact of projects, the
role of the discount rate in decision-taking, the application of
techniques to estimate willingness to pay for benefit estimation
and the quantification of health impacts. Although the basic
techniques of project analysis were developed many decades ago,
they remain highly relevant to address current concerns, such as
population growth, urbanisation, pressure on physical
infrastructure, inequality, and the climate crisis. This book aims
to provide an accessible overview, drawn from extensive practical
experience, of project analysis in developing countries. It will be
relevant to students, researchers, and practitioners interested in
development economics.Â
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