Disputes over the marginal cost of public funds may be about its magnitude in any given time and place or about its role in cost-benefit analysis. This paper is about the latter. The Samuelson rule was devised for an omnipotent, omniscient and benevolent government. This paper is about how the...

The social or economic discount rate is the threshold rate used to calculate the net present value of an investment project, a program, or a regulatory intervention to see whether the proposed expenditures are economically worthwhile to undertake. The size of the economic rate of discount has...

The Himalayan Rivers have an enormous hydropower potential that is still not exploited fully for the benefit of the region. Bhutan and Nepal together have an economically feasible potential of 60,000 MW of hydroelectric power generation capacity but are too weak financially to bear alone the...