2011
DOI: 10.1007/s11135-011-9585-z
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A social discount rate for Turkey

Abstract: Social Discount Rate (SDR) is a very crucial policy parameter in public project appraisals due to its resource allocation impacts. This study estimates an SDR for European Union requires evaluation of the publicly supported commercial projects in terms of the SDR; hence the findings from this study can be used as a useful policy measurement for a full EU member candidate country, Turkey.

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Cited by 19 publications
(10 citation statements)
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“…Hence, a 5.8% social discount rate is appropriate for application in public sector project appraisal in Iran. This estimate is consistent with previous estimates of STPR for selected Asian and Middle Eastern countries falling in a range of 4.5-7.8% (Zhuang et al 2007;Halicioglu and Karatas 2013).…”
supporting
confidence: 93%
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“…Hence, a 5.8% social discount rate is appropriate for application in public sector project appraisal in Iran. This estimate is consistent with previous estimates of STPR for selected Asian and Middle Eastern countries falling in a range of 4.5-7.8% (Zhuang et al 2007;Halicioglu and Karatas 2013).…”
supporting
confidence: 93%
“…The use of social time preference rate (STPR) approach as an appropriate measure of the social discount rate is well documented in the literature (Marglin 1963;Feldstein 1964;Kula 1984Kula , 2004Pearce and Ulph 1995;Sezer 2002, 2005;Percoco 2008;Schad and John 2012;Halicioglu and Karatas 2013;Moore et al 2013). Kossova and Sheluntcova (2016) convincingly argue that in the absence of competition for resources between public and private projects due to a lower rate of return on investment, the STPR approach is recommended.…”
Section: Theoretical Modelmentioning
confidence: 99%
“…In mathematical viewpoint SDR is aimed to calculate the present value of public project's net benefit. In economic viewpoint it reflects the rate at which a society is willing to trade present for future consumption (Halicioglu, & Karatas, 2011). In a perfectly competitive economy, appropriate SDR is the market interest rate (Zhuang, Hang, Lin, et.…”
Section: Sdr Determination Approachesmentioning
confidence: 99%
“…Though in mathematical viewpoint the SDR calculation by applying the classical formula of Ramsey is not complicated, main problems are related to the determination of SRTP parameters. The utility discount rate (p) is most discussed because choosing a value of this parameter requires interfering how much today's society cares for future societies (Halicioglu, & Karatas, 2011). In literature the utility discount rate is divided into two elements: the rate of pure time preference; life chances.…”
Section: Sdr Determination Approachesmentioning
confidence: 99%
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