This article presents new estimates of social discount rates (SDRs) for seventeen Latin American countries for use in public project evaluation. We derive the SDRs based on the social rate of time preference method and provide the required parameter values. These rates range from 2.14 percent for Paraguay to 5.83 percent for Chile. The unweighted average recommended rate is 3.77 percent, which is close to the rates mandated by most European countries. We also review current governments’ SDR practices worldwide, including Latin America, and find that the proposed country-specific SDRs are significantly lower and less dispersed across countries than the rates most Latin American countries currently recommend. Using four archetypal projects profiles, we show the potential impact on the net present values of varying important parameters, including growth rates.

中文翻译：

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社会贴现率为十七个拉美国家的理论与参数估计

本文介绍了 17 个拉丁美洲国家用于公共项目评估的社会贴现率 (SDR) 的新估计值。我们推导基于时间偏好方法的社会贴现率特别提款权，并提供所需的参数值。这些利率范围从巴拉圭2.14％，至智利5.83个百分点。未加权平均推荐率是3.77％，这是接近大多数欧洲国家所规定的利率。我们也检讨当前政府的SDR的做法遍布全球，包括拉丁美洲，发现所提出的针对具体国家的特别提款权显著降低，减少分散在国家比利率大多数拉美国家目前建议。使用四个典型的项目概况，我们给出各种重要参数的净现值的潜在影响，