Value for moneyTo what extent does discount rate matter?

  1. Carlos Contreras Gómez 1
  1. 1 Universidad Complutense de Madrid
    info

    Universidad Complutense de Madrid

    Madrid, España

    ROR 02p0gd045

Revista:
Revista de economía aplicada

ISSN: 1133-455X

Año de publicación: 2014

Volumen: 22

Número: 66

Páginas: 93-112

Tipo: Artículo

DIALNET GOOGLE SCHOLAR lock_openAcceso abierto editor

Otras publicaciones en: Revista de economía aplicada

Resumen

El presente artículo propone una prueba de VFM para evaluar si es apropiado el uso de colaboraciones público-privadas, y realiza un análisis numérico para comprobar hasta qué punto los resultados se ven influidos por las tasas de descuento utilizadas. La prueba se aplica a dos tipos de proyectos de infraestructuras que se diferencian esencialmente en el plazo de la concesión y la intensidad de capital. Los resultados indican que cuánto más alta es la tasa de descuento utilizada mayor es la ventaja de utilizar un esquema PPP como método de provisión. Esta conclusión es más visible en el caso de proyectos con mayor plazo concesional. Además, usar tasas de descuento idénticas para analizar proyectos con perfil muy diferente parece ser inadecuado

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