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Professor Mirrlees' Contribution to Economic Policy

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  • Lyn Squire

Abstract

This paper looks at Professor Mirlees' important contribution to the theory and practice of project evaluation. Despite the apparent relevance of this work to practical policy making, the approach has had only limited application. The paper explores why the Little-Mirrlees' technique of project evaluation has been less widely used than was initially anticipated. Given this disappointing use, the paper argues that Professor Mirrlees' main contribution to economic policy lay in the powerful support his work gave to trade liberalization. Copyright Kluwer Academic Publishers 1998

Suggested Citation

  • Lyn Squire, 1998. "Professor Mirrlees' Contribution to Economic Policy," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 5(1), pages 83-91, February.
    • Handle: RePEc:kap:itaxpf:v:5:y:1998:i:1:p:83-91
    DOI: 10.1023/A:1008620626212
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    References listed on IDEAS

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    1. N. Kaldor & J. A. Mirrlees, 1971. "A New Model of Economic Growth," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 13, pages 165-183, Palgrave Macmillan.
    2. Mirrlees, J. A. & Stern, N. H., 1972. "Fairly good plans," Journal of Economic Theory, Elsevier, vol. 4(2), pages 268-288, April.
    3. Newbery, David M G, 1972. "Public Policy in the Dual Economy," Economic Journal, Royal Economic Society, vol. 82(326), pages 567-590, June.
    4. Devarajan, Shantayanan & Squire, Lyn & Suthiwart-Narueput, Sethaput, 1997. "Beyond Rate of Return: Reorienting Project Appraisal," The World Bank Research Observer, World Bank, vol. 12(1), pages 35-46, February.
    5. Feyzioglu, Tarhan & Swaroop, Vinaya & Min Zhu, 1996. "Foreign aid's impact on public spending," Policy Research Working Paper Series 1610, The World Bank.
    6. N. H. Stern, 1972. "Optimum Development in a Dual Economy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 39(2), pages 171-184.
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    Keywords

    Project evaluation; border prices;

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