A Minister in a lower middle-income country requests a proposal for implementing Evidence-Based Policy Making (EBPM) in all the agencies in the government. You review the literature and find that over the past few decades, there has been slow progress in promoting the use of evidence. The three...

From a practitioner's perspective, this conceptual article examines the challenges in promoting Evidence-Based Policy Making (EBPM) in non-Western, non-affluent developing countries. The focus is on the use of evidence in sectors other than medicine, health care and human services because the...

This paper reviews the recent research findings from the DFID-funded BCURE (Building Capacity to Use Research Evidence) Program for the determinants of the demand for evidence in making policy in agencies, ministries and departments across the public sector in developing countries

The DFID-funded BCURE (Building Capacity for Use of Research Evidence) Program has generated important research findings on the determinants for the demand of evidence use in six countries: Bangladesh, Kenya, Pakistan, Sierra Leone, South Africa and Zimbabwe. What is the relevance of these...

We derive and present the formula for optimal debt under the assumption that tax shields are discounted at the cost of levered equity, Ke and cash flows are on perpetuity. The formulation is consistent and is derived from basic financial principles. This formulation is valid for non-growing...

In this article we use a real life case from an emerging country to illustrate the valuation with discounted cash flow methods that include complexities such as unpaid taxes, losses carried forward, foreign exchange debt, presumptive income and inflation adjustments to the Financial Statements....

We present the derivation of cost of capital under the assumption of risky tax shields discounted with the cost of levered equity. We show that the formulation is consistent and is derived from basic financial principles. This formulation is valid for finite cash flows and non growing...

There are methods to match value added approaches (Residual Income Method, RIM and Economic Value Added, EVA) with discounted cash flow methods, DCF. In this note we use a real life case from an emerging country to illustrate the matching, with complexities such as unpaid taxes, losses carried...

Taking a slightly closer look at the EVA basics prompts that the metric by design is a synthetic mixture of returns from the operating and financing activities, and therefore, yields a biased assessment of both the operating and overall performance. Fundamentally, the scale of the measurement...