This study estimates the rates of return (RoR) of non-contributory social transfer programmes in Cambodia using household data and going beyond standard cost efficiency analyses by developing a dynamic micro simulation. It shows that social protection promotes equitable economic growth by...

A growing impact evaluation literature on antipoverty transfer programmes in low‐ and middle‐income countries measures changes in utilitarian terms, at their unit value. The paper argues that valuing antipoverty transfers is more appropriately done within a framework of prioritarian social...