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Project Selection and Macroeconomic Objectives: A Methodology Applied to Peruvian Irrigation Projects

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  • Stephen E. McGaughey
  • Erik Thorbecke

Abstract

A method of obtaining investment priorities is formulated and applied to 11 Peruvian irrigation projects. The principal feature of the analysis is a ranking function which incorporates national economic objectives with appropriate weights. Project priorities are derived from each economic objective using the applicable investment criteria. The ranking function is used to combine the priorities into a ranking by explicitly accounting for numerical weights on the objectives. The function appears to be a general device which can include as many objectives as there are suitable investment criteria.

Suggested Citation

  • Stephen E. McGaughey & Erik Thorbecke, 1972. "Project Selection and Macroeconomic Objectives: A Methodology Applied to Peruvian Irrigation Projects," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(1), pages 32-40.
    • Handle: RePEc:oup:ajagec:v:54:y:1972:i:1:p:32-40.
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    File URL: http://hdl.handle.net/10.2307/1237731
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    Cited by:

    1. Zanakis, Stelios H. & Mandakovic, Tomislav & Gupta, Sushil K. & Sahay, Sundeep & Hong, Sungwan, 1995. "A review of program evaluation and fund allocation methods within the service and government sectors," Socio-Economic Planning Sciences, Elsevier, vol. 29(1), pages 59-79, March.

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