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This book is Volume 3 of the Proceedings of the World Economic Congress held in Athens in 1989 under the auspices of the International Economic Association. It considers various aspects of economic policy and development faced by countries with different social, cultural and political systems.

This book, with an overview introduction by Keneth J. Arrow, is the first volume of the proceedings of the World Economic Congress held in Athens, Greece in August/September 1989 under the austpices of the International Economic Association.

This publication represents the cumulative experience of UNIDO in the methodology and practice of national benefit-cost analysis for industrial project preparation and evaluation. UNIDO's work in this field began with the Interregional Symposium on Project Preparation and Evaluation held in Prague in 1965. On the basis of the recommendations of this symposium, UNIDO undertook to develop a set of guidelines which the developing countries could use for incorporating the evaluation and approval of new industrial projects into their over-all industrial planning mechanism.