Abstract
It is difficult in less developed countries to make unbiased estimates of economic factors. With persistent unemployment and chronic balance of payments problems due to structural factors, markets are likely to be in disequilibrium. Many of the standard methods of project evaluation fall down because of the dramatic effect that something like an increase in the average life expactancy or a change in the per capita consumption can bring. The alternative is to adopt some paternalistic rules in order to supplement and if necessary over-ride the normal rules.
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