Koncepcja zmniejszającej się w czasie stopy dyskonta w ocenie efektywności inwestycji publicznych o oddziaływaniach długoterminowych
The concept of time-declining discount rate in the appraisal of public projects with long-term effects

Summary/Abstract: Long-term public investments are difficult to appraise due to the discounting process which immensely affects present value of project’s effects and the results of the appraisal process. The paper identifies the concepts of long-term discounting and undertakes the attempt to evaluate the impact of declining discount rate in the long-term projects appraisal. The results indicate that application of declining discount rate instead of stable-in-time discount rate results in a significant difference for present value of project’s remote effects.

• Details
• Contents