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A manual for cost benefit analysis in South Africa with specific reference to water resource development
Expanded Title:In 1989, the then Central Economic Advisory Services produced the original Manual for Cost-Benefit Analysis in South Africa. This updated Manual builds on a project which was commissioned by the Water Research Commission (WRC) in 2001 entitled: A Manual for Cost-Benefit Analysis with Special Reference to Water Resource Development (WRC Report No TT177/92) which was revised and updated in 2007, and published as WRC Report No TT 305/07. This current report presents an update of the October 2007 manual to reflect 2012 prices. Updates are essential in order to provide users of this Cost-Benefit Analysis (CBA) manual with a set of standardised, uniform parameters that will enable decision makers to arrive at sound conclusions and decisions. Stakeholder engagement was an on-going process throughout this specific project. Engagement was achieved through bilateral discussions with individual key informants. The thrust of the update focussed on the following aspects: - The updating and expansion of shadow and surrogate prices to 2012 prices. It is important to provide the user with a set of standardised i.e. uniform parameters to ensure that CBA is scientifically valid for purposes of interpretation as well as comparison. This will enable decision makers to arrive at sound conclusions and decisions; - During recent years, the level of interest rates has decreased considerably. It is the aim of this project, as it was the case in the previous update of the manual, to specifically look into the social discount rate, to determine whether the 8% benchmark is still valid. The level of interest rates in South Africa and worldwide has decreased and this project would provide a platform to investigate the issue of the discount rate; - Updating the computer programme for the conversion of shadow prices for assets to 2012 prices. These assets refer, for instance to types of dams, pump stations etc. this model is available in electronic format (CD) attached to the final report.
Date Published:01/05/2014
Document Type:Research Report
Document Subjects:Water Resource Management/IWRM - Water Governance, R & D - Methodology
Document Keywords:Financial Models
Document Format:Report
Document File Type:pdf
Research Report Type:Technical
WRC Report No:TT 598/14
ISBN No:978-1-4312-0552-3
Authors:Mullins D; Botha JP; Mosaka DD; Jurgens FX; Majoro TJ
Project No:K8/1044
Originator:WRC
Organizations:Conningarth Economists
Document Size:1 484 KB
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