Russ, Jason

Office of the Chief Economist of the Sustainable Development Practice, The World Bank
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Economics of Development, Environment, Water economics
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Last updated: May 3, 2023
Jason Russ is a Senior Economist in the Office of the Chief Economist of the Sustainable Development Practice at the World Bank. His professional interests center on using econometrics and data analytics to diagnose development challenges, and quantify the economic and social impacts of environmental externalities. His tenure at the World Bank includes five years in the Water Global Practice where he helped to develop and coordinate the analytical work program of the Economics Global Solutions Group, including authoring many of its global flagship reports. He has authored numerous publications in academic journals largely related to environmental and development economics. Prior to joining the World Bank he was an analyst at PricewaterhouseCoopers. He holds a Ph.D. in Economics from George Washington University.
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Framework for Conducting Benefit-Cost Analyses of Investments in Hydro-Meteorological Systems

2014-06, Malik, Arun S., Amacher, Gregory S., Russ, Jason, Esikuri, Enos E., Ashida Tao, Keiko

The whitepaper is organized as follows: section two provides an overview of the types of benefits associated with hydromet investments, the process by which the benefits are generated, and their expected development impacts; section three explains the rationale for public sector investment in hydromet systems and involvement by the World Bank; section four discusses the wide range of factors that influence the magnitude of benefits generated by hydromet systems, in particular the value of weather and climate forecasts. The discussion is supplemented by a stylized example presented in annex one; section five provides an overview of approaches that have been used to estimate the value of improved forecasts of routine climate to specific user groups or sectors of an economy; section six then turns to an overview of approaches that have been used to estimate the net benefits of hydromet investments at the country level. The primary benefits estimated by these approaches are those associated with improved forecasts of extreme meteorological events; section seven contains a discussion of the costs of hydromet investments, with particular attention given to the challenges faced in estimating these costs in developing countries; section eight lays out a framework for estimating the expected net benefits of hydromet investments at a country level. The framework builds on existing approaches and is designed to be used with data available from secondary sources. This section will be of central interest to those tasked with conducting economic evaluations of hydromet investments; section nine describes data that can be collected to conduct interim and ex-post evaluations of hydromet investments that supplement and refine ex-ante evaluations of these investments; and section ten offers conclusions and recommendations.