Journal ArticleDOI
On the theory of DRC criteria Reply to Pursell and Tower
TLDR
In this article, Pursell and Tower (1987) raise four issues with respect to certain results on DRC theory reported in Lucas (1984), and each of these points will be addressed sequentially.About:
This article is published in Journal of Development Economics.The article was published on 1987-06-01. It has received 2 citations till now. The article focuses on the topics: Tower (mathematics).read more
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Journal ArticleDOI
Shadow Prices for Project Selection in the Presence of Distortions: Effective Rates of Protection and Domestic Resource Costs
TL;DR: In this paper, the problem of deriving shadow prices for use in project evaluation when the existing allocation is characterized by ad valorem trade distortions is addressed, and the analysis is used to clarify and resolve the long-standing debate among effective-rate-of-protection and domestic-resource-cost proponents as to the respective merits of their measures as methods of project evaluation.
Journal ArticleDOI
On the theory of DRC criteria
TL;DR: In this paper, it was shown that the direct DRC decomposition does not convey limited information, even when areas of control are restricted, but in general a total formulation diminishes this information content.
Journal ArticleDOI
DRC criteria: Comment on Lucas☆
Gary Pursell,Edward Tower +1 more
TL;DR: In this paper, the authors show how DRCs can be defined in such a way that paradoxes in the application of DRC criteria can be eliminated, thus eliminating the apparent paradoxes.