Cost–Benefit Analysis (CBA) or the Highway? An Alternative Road to Investigating the Value for Money of International Development Research

Resource type
Author/contributor
Title
Cost–Benefit Analysis (CBA) or the Highway? An Alternative Road to Investigating the Value for Money of International Development Research
Abstract
Research for development (R4D) funding is increasingly expected to demonstrate value for money (VfM). However, the dominance of positivist approaches to evaluating VfM, such as cost-benefit analysis, do not fully account for the complexity of R4D funds and risk undermining efforts to contribute to transformational development. This paper posits an alternative approach to evaluating VfM, using the UK’s Global Challenges Research Fund and the Newton Fund as case studies. Based on a constructivist approach to valuing outcomes, this approach applies a collaboratively developed rubric-based peer review to a sample of projects. This is more appropriate for the complexity of R4D interventions, particularly when considering uncertain and emergent outcomes over a long timeframe. This approach could be adapted to other complex interventions, demonstrating that our options are not merely “CBA or the highway” and there are indeed alternative routes to evaluating VfM.
Publication
The European Journal of Development Research
Volume
35
Issue
2
Pages
260-280
Date
2023-04-01
Journal Abbr
Eur J Dev Res
Language
en
ISSN
1743-9728
Short Title
Cost–Benefit Analysis (CBA) or the Highway?
Accessed
13/04/2023, 12:38
Library Catalogue
Springer Link
Citation
Peterson, H. (2023). Cost–Benefit Analysis (CBA) or the Highway? An Alternative Road to Investigating the Value for Money of International Development Research. The European Journal of Development Research, 35(2), 260–280. https://doi.org/10.1057/s41287-022-00565-7