Cost-Benefit Analysis in World Bank Projects

This report has been prepared in the context of a major global effort in the past eight years to better measure results in development assistance. The agenda for this effort was articulated and refined in a series of international conferences, begi...

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Bibliographic Details
Main Author:	Independent Evaluation Group
Format:	Publication
Language:	English
Published:	Washington, DC: World Bank 2012
Subjects:	ACCOUNTABILITY ACCOUNTING ACCOUNTING PRINCIPLES ACCOUNTING STANDARDS BENEFICIARIES BENEFIT ANALYSIS BENEFIT STREAMS CAPACITY BUILDING COMMUNITIES COST-BENEFIT ANALYSES COST-BENEFIT ANALYSIS COUNTERFACTUAL DECISION MAKING DRIVING ECONOMIC ANALYSIS ECONOMIC CONDITIONS ECONOMIC GROWTH ECONOMIC IMPACT ECONOMIC REFORM ECONOMICS ECONOMISTS EDUCATIONAL ATTAINMENT EFFECTIVE USE EMERGENCY RESPONSE EMPIRICAL BASIS EMPIRICAL EVIDENCE EMPLOYMENT ENVIRONMENTAL ENVIRONMENTAL COSTS ENVIRONMENTAL EXTERNALITIES ENVIRONMENTAL IMPACTS EX ANTE ANALYSIS EXPENDITURES EXTERNALITIES FINANCIAL COVENANTS FINANCIAL INSTITUTIONS FISHERIES FORECASTS OF TRAFFIC GROWTH HIGHWAY HOUSEHOLD INCOME HOUSEHOLD SURVEYS ICR IDEAL INDICATORS IMPACT EVALUATION INCOME INTEREST RATES INTERVENTION INTERVENTIONS LEARNING MANDATES MARKET PRICES POLICY CHANGES POSITIVE EXTERNALITIES POVERTY REDUCTION PRESENT VALUE PRIVATE GOODS PRODUCTIVITY PROGRAMS PROJECT BENEFICIARIES PROJECT MONITORING PROJECT OBJECTIVES PUBLIC GOOD PUBLIC GOODS PUBLIC INVOLVEMENT RESOURCE MANAGEMENT ROAD ROAD PROJECTS ROADS RURAL DEVELOPMENT SELECTION BIAS SETTLEMENT SHADOW PRICES SUBSIDIARY TECHNICAL ASSISTANCE TRAFFIC TRAFFIC DENSITY TRAFFIC GROWTH TRANSACTION COSTS TRANSPARENCY TRANSPORT TRANSPORT PROJECTS TRANSPORT SECTOR TRUE URBAN DEVELOPMENT WAGES WEALTH
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000356161_20110614052210 http://hdl.handle.net/10986/2561

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Summary:	This report has been prepared in the context of a major global effort in the past eight years to better measure results in development assistance. The agenda for this effort was articulated and refined in a series of international conferences, beginning with the international conference on financing for development in Monterrey in 2002 and continuing through the Accra agenda for action in 2008. Cost-benefit analysis entails measuring results, valuing results, and comparing results with costs, and hence is highly relevant to the results agenda. Cost-benefit analysis can provide a comprehensive picture of the net impact of projects and help direct funds to where their development effectiveness is highest. This study draws two broad conclusions. First, the bank needs to revisit its policy for cost-benefit analysis in a way that recognizes the legitimate difficulties in quantifying benefits while preserving a high degree of rigor in justifying projects. Second, the bank needs to ensure that cost-benefit analysis is done with quality, rigor, and objectivity: poor data and analysis misinform, and do not improve, results. Reforms are required to project-appraisal procedures to ensure objectivity, improve both the analysis and the use of evidence at appraisal, and ensure effective use of cost benefit analysis in decision making.

Cost-Benefit Analysis in World Bank Projects

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