In this paper, an analytical framework is developed to measure the economic opportunity cost of capital and foreign exchange. An application of the framework is carried out for the Philippines. The results indicate that the economic cost of capital is approximately10% real for the Philippines....

While the methodology for the evaluation of electricity generation investments is well developed, little work has been done on how to segregate and compare the costs and benefits of electricity distribution facilities. Distribution projects have been usually treated as a required technical part...

Globalization has forced many governments to change their economic policies, including tax policies, in the recent years. It has had an even greater impact on Singapore’s economy due to the high degree of its openness with respect to trade and investment. In this context, Singapore undertook a...

The Value Added Tax (VAT) was introduced in Singapore in 1994 as a major part of an overall tax reform package and with a strong political commitment to its implementation. As the Singaporean economy has many special features that make it difficult for a generic VAT to function well, such as a...