| 000 -LEADER |
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| fixed length control field |
01244pab a2200145 454500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
180718b1997 xxu||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Dreze, Jacques H. |
| 245 ## - TITLE STATEMENT |
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| Title |
Public economics, public projects, and their funding |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. |
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| Date of publication, distribution, etc. |
1997 |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
p.1-17 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc. |
This paper illustrates the contribution of public economics to the analysis of public projects. The illustrations pertain to peak-load pricing (electricity) and to second-best pricing under a budget constraiant (subways), also taking into account the pricing of substitutes (rail versus canals, fixed link versus air or ferries). The paper next reviews some difficulties in evaluating costs and benefits (for the Channel tunnel), compares briefly private versus public implementation, then turns to funding. After reviewing the pricing of derivatives in the Capital Asset Pricing Model and the computation of risk premia for public projects, the case for funding public projects on world capital markets is presented and applied to the denomination of Third World debt. The paper ends on a plea to consider the merits of a "World Insurance Agency for Development". - Reproduced |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Public utilities |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
Asian Development Review |
| 909 ## - |
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| -- |
43076 |
