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The Globalization of Cost-Benefit Analysis in Environmental Policy$
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Michael A. Livermore and Richard L. Revesz

Print publication date: 2013

Print ISBN-13: 9780199934386

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199934386.001.0001

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Challenges and Opportunities

Challenges and Opportunities

(p.307) 20 Challenges and Opportunities
The Globalization of Cost-Benefit Analysis in Environmental Policy

Michael A. Livermore

Oxford University Press

While the potential of cost-benefit analysis as a regulatory tool is almost universally acknowledged, researchers must continue to work to overcome obstacles associated with data collection and discretionary valuation, especially in the context of developing countries. This chapter discusses how developing and emerging countries have challenged, and may be challenged by, cost-benefit analysis. Some of the recurring practical and theoretical issues in cost-benefit analysis in developing countries include the use of benefit-transfer, and how issues like employment can be incorporated into cost-benefit analysis. The question of how cost-benefit analysis fits into the political process is also discussed, drawing on more recent experience in the United States to offer a set of general observations about how politics is likely to affect the future of cost-benefit analysis around the world.

Keywords:   Data collection, discretionary valuation, developing countries, politics

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