Dados is one of the most widely-read social sciences journals in Latin America. Created in 1966, it publishes innovative works, originating from academic research, by Brazilian and foreign authors. Edited by IESP-UERJ, it aims to reconcile scientific rigor and academic excellence with an emphasis on public debate based on the analysis of substantive issues of society and politics.
Dados n. 9 Rio de Janeiro 1972
Abstract
The most important investment decisions in the Brazilian economy are, directly or indirectly, under the control of the Federal government. This control is frequently effected without an adequate appraisal of the relationships between investments decisions and economic development objectives. A financial feasibility or private profitability test is almost always adopted as the basic criterium for project's approval by the governmental agencies. The author argues that projet analyses based on private profits make little sense. Governmental agencies should analyze investment projects on the grounds of their national economic profitability, as estimated by shadow prices for inputs and outputs. The concept of shadow prices is discussed, and shadow prices' values are demonstrated to reflect both the macroeconomic scarcity of resources and governmental economic policy.
Princípios Econômicos para a Avaliação Governamental de Projetos de Investimento
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