The purpose of the paper is to analyse some results of cost-benefit analysis in a sample of ISPA (Structural Instrument for pre-accession countries) projects. The focus is particularly on the variability of financial and economic rates of return and how to integrate this information in the EU co-financing mechanism. We investigate, through the analysis of variance of co-financing rate, to which extent variability of rates is due to structural characteristics (sectors, countries) or to the existence of a residual variance due both to specificity of the project and discretional element of the appraisal method, which may constitute an information noise. We find that the variance of co-financing rate across countries is poorly explained by different composition of sectors of investment. This suggests the need to reinforce a more consistent approach to evaluation and co-financing. We suggest some possible solutions.
|Titolo:||Cost-benefit analysis of infrastructure projects in an enlarged European Union: an incentive-oriented approach|
|Data di pubblicazione:||mag-2003|
|Parole Chiave:||Cost-benefit analysis; Project Evaluation; Structural Funds; European Regional Policy|
|Settore Scientifico Disciplinare:||Settore SECS-P/03 - Scienza delle Finanze|
|Citazione:||Cost-benefit analysis of infrastructure projects in an enlarged European Union: an incentive-oriented approach / M. Florio, S. Vignetti. - [s.l] : Università degli studi di Milano, 2003 May. (WORKING PAPER SERIES / DIPARTIMENTO DI ECONOMIA POLITICA E AZIENDALE, UNIVERSITÀ DEGLI STUDI DI MILANO)|
|Appare nelle tipologie:||08 - Relazione interna o rapporto di ricerca|