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Cost–Benefit Assessment of Public Investments in France: The Use of Counter-Experts

Published online by Cambridge University Press:  05 February 2021

Luc Baumstark Open the ORCID record for Luc Baumstark [Opens in a new window] ,
Roger Guesnerie Open the ORCID record for Roger Guesnerie [Opens in a new window] ,
Jincheng Ni  and
Jean-Paul Ourliac Open the ORCID record for Jean-Paul Ourliac [Opens in a new window]
Luc Baumstark
Affiliation:
Department of Evaluation, French General Secretariat for Investment (Secrétariat général pour l’investissement), Paris, France
Roger Guesnerie
Affiliation:
Collège de France, Paris, France and Committee of Experts on Methods for Socioeconomic Evaluation of Public Investment, Paris, France
Jincheng Ni
Affiliation:
Policy Planning Commission (France Stratégie), Paris, France
Jean-Paul Ourliac*
Affiliation:
Committee of Experts on Methods for Socioeconomic Evaluation of Public Investment
*
*e-mail: [email protected]
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Abstract

Socioeconomic evaluation of a public investment helps to understand its value for the community, and it also improves an investment by analyzing its different components, and the risks inherent in its completion. The Act of 31 December 2012 about Public Finance Planning makes it mandatory in France for project sponsors to conduct an ex-ante socioeconomic evaluation of all public civil investments made by the State and its public institutions. An independent counter-expert assessment of the ex-ante socioeconomic evaluation is conducted for the largest projects. A permanent committee of experts has been established to specify the methodological rules for socioeconomic evaluation and define the studies and research necessary.

Keywords

cost benefit analysispublic investmentcounter assessmentLaw and regulationStateregionallocalTheory
Type
Symposium: Papers from the 2019 European Meeting of the Society for Benefit-Cost Analysis
Information
Journal of Benefit-Cost Analysis , Volume 12 , Issue 1 , Spring 2021 , pp. 152 - 169
Copyright
© The Author(s), 2021. Published by Cambridge University Press on behalf of the Society for Benefit-Cost Analysis

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