-GUILE_LOAD_COMPILED_PATH="@abs_top_builddir@${GUILE_LOAD_COMPILED_PATH:+:}$GUILE_LOAD_COMPILED_PATH"
-GUILE_LOAD_PATH="@abs_top_builddir@:@abs_top_srcdir@${GUILE_LOAD_PATH:+:}:$GUILE_LOAD_PATH"
+# By default we may end up with absolute directory names that contain '..',
+# which get into $GUILE_LOAD_PATH, leading to '..' in the module file names
+# recorded by Guile. To avoid that, make sure we get a real absolute
+# directory name. Additionally, use '-P' to get the canonical directory name
+# so that Guile's 'relative' %file-port-name-canonicalization can actually
+# work (see <http://bugs.gnu.org/17935>.)
+abs_top_srcdir="`cd "@abs_top_srcdir@" > /dev/null; pwd -P`"
+abs_top_builddir="`cd "@abs_top_builddir@" > /dev/null; pwd -P`"
+
+GUILE_LOAD_COMPILED_PATH="$abs_top_builddir${GUILE_LOAD_COMPILED_PATH:+:}$GUILE_LOAD_COMPILED_PATH"
+GUILE_LOAD_PATH="$abs_top_builddir:$abs_top_srcdir${GUILE_LOAD_PATH:+:}$GUILE_LOAD_PATH"