Article ID: | iaor19942293 |
Country: | South Africa |
Volume: | 18 |
Start Page Number: | 219 |
End Page Number: | 240 |
Publication Date: | Jan 1994 |
Journal: | Journal for Studies in Economics and Econometrics |
Authors: | Pringle W.A. |
Keywords: | government, programming: multiple criteria |
The estimated internal rate of return on road projects has in the past directed funds for road construction largely to the developed sector of the South African economy. A more equitable allocation requires a fund allocation technique that will take into account a larger number of objectives. The article looks at possible objectives and analyses two methods of allocating funds. Of the techniques, the STEP approach, advocated by the Division of Roads and Transport Technology, provides unsatisfactory results. The Visual Interactive method shows greater promise.