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on Environmental Economics |
| By: | Valeria Andreoni (European Commission – JRC - IPTS); Arto Inaki (European Commission – JRC - IPTS); Jose Manuel Rueda Cantuche (Pablo Olavide University); Genty Aurelien (European Commission – DG Enterprise); Villanueva Krzyzaniak Alejandro (European Commission – JRC - IPTS) |
| Abstract: | In the recent decades, the increase in the world population, the economic expansion and the globalization of the economy have led to a dramatic growth in the use of some natural resources and in the levels of pollution. These trends have coincided with a growing concern about some critical questions for the future of humankind such as resource scarcity and depletion, climate change, environmental degradation, the limits of growth or the inequalities in the access to natural resources across countries. In this context arises the need to develop a comprehensive dataset of reliable and comparable economic and environmental information that contributes to a better understanding of the complexity of these issues, and supporting evidence-based policy-making. In order to comply with this need, this Pocketbook presents a series of indicators describing the evolution of the use of natural resources and the emission of air pollutants around the world, in relation to production, consumption and trade activities. Based on different analysis derived from the World Input-Output Database (WIOD), this publication includes information on 6 environmental dimensions: land use, material extraction, water use, and emission of acid substances, greenhouse gases and ozone precursors. The time frame covered is the period between 1995 and 2008, and the geographical scope includes the EU-27 Member States, Brazil, China, India, Japan, Russia, the United States of America and the Rest of the World. The information presented in this publication can be classified into 3 different groups of indicators: 1. The "Production" or "Domestic" side indicators report for each country the use of resources as primary inputs (i.e. domestic extraction of materials or land cultivated) and the emissions directly generated by national economic activities. 2. The "Consumption" or "Footprint" indicators show the resources or pollution embodied in the domestic final demand of one country, regardless of where these resources/emissions were used/emitted. 3. The "Trade" indicators account for the resources/pollution embodied international trade. This article quantifies for the first time not only the domestic employment effects of foreign EU exports but also the correct number of jobs generated through intra-European trade (Single Market) in the production of such exported commodities. The literature has neglected very often the latter effects mainly due to the lack of an appropriate methodology and database. The empirical evidence shows that the EU has really progressed during the period 2000-2007 towards a more vertically integrated economy, reducing the labour intensity of the goods and services exported outside the EU, trading most prominently within the EU Single Market and subsequently, generating an increasing number of jobs. Despite the reduction in the labour intensity of the European exports, the associated employment grew from 22 to 25 million jobs, out of which 9 million jobs were created due to spillover and feedback effects associated to the Single Market |
| Keywords: | Water, Land, Emissions, Materials, Trade; Input-Output Analysis; EU27 |
| JEL: | Q56 |
| Date: | 2012–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc71922&r=env |
| By: | Terao, Tadayoshi |
| Abstract: | In the early stages of the development of Japan’s environmental policy, sulfur oxide (SOx) emissions, which seriously damage health, was the most important air pollution problem. In the second half of the 1960s and the first half of the 1970s, the measures against SOx emissions progressed quickly, and these emissions were reduced drastically. The most important factor of the reduction was the conversion to a low-sulfur fuel for large-scale fuel users, such as the electric power industry. However, industries started conversion to low-sulfur fuel not due to environmental concerns, but simply to reduce costs. Furthermore, the interaction among the various interests of the electric power industry, oil refineries, the central government, local governments, and citizens over the energy and environmental policies led to the measures against SOx emissions by fuel conversion. |
| Keywords: | Japan, Environmental policy, Air pollution, Low sulfurization, Crude oil combustion |
| JEL: | N55 O13 Q28 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper407&r=env |
| By: | Artusa, Anthony |
| Keywords: | Environmental Economics and Policy, |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usao13:147081&r=env |
| By: | Löfgren, Åsa (Department of Economics, School of Business, Economics and Law, Göteborg University); Wråke, Markus; Hagberg, Tomas; Roth, Susanna |
| Abstract: | The European Union’s Emissions Trading Scheme (EU-ETS) is so far the largest emissions trading system in the world. It covers about 12000 installations, representing approximately 45% of EU emissions of CO2, with the objective to establish a carbon price creating incentives for cost efficient reductions of emitted green house gases. In this article we perform an expost analysis where we use detailed firm level data to analyse the effect of the EU ETS on firms’ investment decisions in carbon reducing technologies. In addition we draw on the existing literature and control for firm specific characteristics that has previously been shown to be determinants of firms’ investment in clean technology.<p> |
| Keywords: | investment; technological adoption; clean technology; EU ETS; firm behavior; climate change; carbon |
| JEL: | D21 O33 Q53 |
| Date: | 2013–04–02 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:gunwpe:0565&r=env |
| By: | Valeria Andreoni (European Commission – JRC - IPTS); Arto Inaki (European Commission – JRC - IPTS); Jose Manuel Rueda Cantuche (Pablo Olavide University); Genty Aurelien (European Commission – DG Enterprise); Villanueva Krzyzaniak Alejandro (European Commission – JRC - IPTS) |
| Abstract: | In the recent decades, the increase in the world population, the economic expansion and the globalization of the economy have led to a dramatic growth in the use of some natural resources and in the levels of pollution. These trends have coincided with a growing concern about some critical questions for the future of humankind such as resource scarcity and depletion, climate change, environmental degradation, the limits of growth or the inequalities in the access to natural resources across countries. In this context arises the need to develop a comprehensive dataset of reliable and comparable economic and environmental information that contributes to a better understanding of the complexity of these issues, and supporting evidence-based policy-making. In order to comply with this need, this Pocketbook presents a series of indicators describing the evolution of the use of natural resources and the emission of air pollutants around the world, in relation to production, consumption and trade activities. Based on different analysis derived from the World Input-Output Database (WIOD), this publication includes information on 6 environmental dimensions: land use, material extraction, water use, and emission of acid substances, greenhouse gases and ozone precursors. The time frame covered is the period between 1995 and 2008, and the geographical scope includes the EU-27 Member States, Brazil, China, India, Japan, Russia, the United States of America and the Rest of the World. The information presented in this publication can be classified into 3 different groups of indicators: 1. The "Production" or "Domestic" side indicators report for each country the use of resources as primary inputs (i.e. domestic extraction of materials or land cultivated) and the emissions directly generated by national economic activities. 2. The "Consumption" or "Footprint" indicators show the resources or pollution embodied in the domestic final demand of one country, regardless of where these resources/emissions were used/emitted. 3. The "Trade" indicators account for the resources/pollution embodied international trade. This article quantifies for the first time not only the domestic employment effects of foreign EU exports but also the correct number of jobs generated through intra-European trade (Single Market) in the production of such exported commodities. The literature has neglected very often the latter effects mainly due to the lack of an appropriate methodology and database. The empirical evidence shows that the EU has really progressed during the period 2000-2007 towards a more vertically integrated economy, reducing the labour intensity of the goods and services exported outside the EU, trading most prominently within the EU Single Market and subsequently, generating an increasing number of jobs. Despite the reduction in the labour intensity of the European exports, the associated employment grew from 22 to 25 million jobs, out of which 9 million jobs were created due to spillover and feedback effects associated to the Single Market |
| Keywords: | Water, Land, Emissions, Materials, Trade; Input-Output Analysis; EU27 |
| JEL: | Q56 |
| Date: | 2012–06 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc71919&r=env |
| By: | Valeria Andreoni (European Commission – JRC - IPTS); Arto Inaki (European Commission – JRC - IPTS); Jose Manuel Rueda Cantuche (Pablo Olavide University); Genty Aurelien (European Commission – DG Enterprise); Villanueva Krzyzaniak Alejandro (European Commission – JRC - IPTS); Ignazio Mongelli |
| Abstract: | Following the debate on the implications of international trade for global climate policy, this paper assess the economic benefits gained by exporting countries in products and services for exports against the emissions generated in their production. In 2008, 24% of global GHG emissions and 20% of the employment around the world were linked to international trade. China exported 30% of emissions and hosted 37.5% of the jobs generated by trade worldwide. The European Union and the United States of America were the destination of 25% and 18.4% of the GHG emissions embedded in trade. The imports of these two regions contributed to the creation of 45% of the employment generated by international trade. This paper proposes the idea of including trade issues in international negotiations, taking into account not only the environmental burden generated by developed countries when displacing emissions to developing countries through their imports, but also the economic benefits of developing countries when releasing the emissions to produce goods delivered to developed countries. By analysing these opposing aspects, we aim to show how global emissions could be reduced effectively and with lower costs. |
| Keywords: | Employment; Greenhouse gas emissions; Multiregional Input-Output Model. |
| JEL: | F24 Q56 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc74559&r=env |
| By: | Rantala, Olavi |
| Abstract: | Abstract: The study evaluates the impacts of EU climate policy on the emission allowance price, electricity prices, the competitiveness of industry and macroeconomic developments in the third EU emissions trading period 2013-2020. The economic impacts of climate policy on Finland are compared to the impacts on the entire EU area. It turns out that due to its cold climate and heating energy demand, higher export intensity of the economy and higher energy intensity of the industry Finland pays a higher price for EU climate policy in terms of output and employment losses than the EU on average. The study examines the macroeconomic effects of climate policy also in the more distant future, assuming that EU climate policy is tightened further in the 2020s. Climate policy implemented by emissions trading means that the long-term economic growth in the EU area depends essentially on emission-free electricity production, and no longer on other growth factors, such as labour supply and productivity growth. Available only online |
| Keywords: | climate policy, emissions trading |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:rif:briefs:2&r=env |
| By: | Cees Withagen; Alex Halsema |
| Abstract: | We study tax competition when pollution matters. Most notably we present a dynamic setting, where the supply of capital is endogenous. It is shown that tax competition may involve stricter environmental policy than the cooperative outcome. |
| Keywords: | environmental policy, race to the bottom, pollution taxation |
| JEL: | O13 O11 Q33 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:oxcrwp:076&r=env |
| By: | Christoph Böhringer (University of Oldenburg, Department of Economics); Knut Einar Rosendahl (Norwegian University of Life Science and Statistics Norway); Jan Schneider (University of Oldenburg, Department of Economics) |
| Abstract: | In the abscence of a global agreement to reduce greenhouse gas emissions, individual countries have introduced national climate policies. Unilateral action involves the risk of relocating emissions to regions without climate regulations, i.e., emission leakage. A major channel for leakage are price changes in the international oil market. Previous studies on leakage have assumed competitive behaviour in this market. Here, we consider alternative assumptions about OPEC’s behaviour in order to assess how these affect leakage and costs of unilateral climate policies. Our results based on simulations with a large-scale computable general equilibrium model of the global economy suggest that assumptions on OPEC’s behaviour are crucial to the impact assessment of unilateral climate policy measures. We find that leakage through the oil market may become negative when OPEC is perceived as a dominant producer, thereby reducing overall leakage drastically compared to a setting where the oil market is perceived competitive. |
| Keywords: | Carbon Leakage, Oil Market, OPEC Behaviour |
| JEL: | C72 Q41 Q54 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:old:wpaper:355&r=env |
| By: | Luebehusen, Eric |
| Keywords: | Environmental Economics and Policy, |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usao13:147079&r=env |
| By: | Rippey, Brad |
| Keywords: | Environmental Economics and Policy, |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:usao13:147077&r=env |
| By: | OECD |
| Abstract: | There are at least two policy regimes to be considered, one for environmental biotechnology, and another for industrial biotech. Environmental biotechnology is focused on biotechnologies for environmental clean-up, and much of the policy in this area is around compliance. Industrial biotechnology has quite different policy objectives and only started to grow as a field with the worldwide interest in biofuels. Much of the world now has targets for bioenergy and favourable policy regimes to stimulate production and use of biofuels, but sustainability is now a real issue for biofuels production. This should become an international theme as more countries start to adapt biofuels as part of their energy supply. |
| Date: | 2013–04–10 |
| URL: | http://d.repec.org/n?u=RePEc:oec:stiaac:3-en&r=env |
| By: | Helene Maisonnave (Universite Laval, Quebec, Canada); Jonathan Pycroft (JRC IPTS, European Commission); Bert Saveyn (JRC IPTS, European Commission); Juan Carlos CISCAR (JRC IPTS, European Commission) |
| Abstract: | The European Union has committed itself to reduce greenhouse gas (GHG) emissions by 20% in 2020 compared with 1990 levels. This paper investigates whether this policy has an additional benefit in terms of economic resilience by protecting the EU from the macroeconomic consequences due to an oil price rise. We use the GEM-E3 computable general equilibrium model to analyze the results of three scenarios. The first one refers to the impact of an increase in the oil price. The second scenario analyses the European climate policy and the third scenario analyses the oil price rise when the European climate policy is implemented. Unilateral EU climate policy imposes a cost on the EU of around 1.0% of GDP. An oil price rise in the presence of EU climate policy does impose an additional cost on the EU of 1.5% of GDP, but this is less than the 2.2% of GDP that the EU would lose from the oil price rise in the absence of climate policy. This is evidence that even unilateral climate policy does offer some economic protection for the EU. |
| Keywords: | Oil price, general equilibrium, climate policy |
| JEL: | Q54 C68 Q40 |
| Date: | 2012–02 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc68858&r=env |
| By: | K N Ninan (Institute for Social and Economic change); Satyasiba Bedamatta |
| Abstract: | This paper assesses the impact of climate change on Indian agriculture covering a cross section of crops, seasons and regions based on existing literature. The study notes that the impact of climate change will vary across crops, regions and climate change scenarios. The evidences indicate a decrease in production of crops in different parts of India with an increase in temperature. A number of studies indicate a probability of 10 % to 40% loss in crop production in India with increases in temperature by 2080-2100.In areas located above 27° N latitude yields of irrigated and rainfed wheat are projected to rise in response to climate change whereas in all other locations yields are projected to decline by -2.3% to -23.9 %. Temperature rises of between 2° C to 3.5 ° C is projected to lead to a loss of 3-26 % in net agricultural revenues. Increasing climate sensitivity of Indian agriculture will lead to greater instability of India’s food production which will also impact on poverty and livelihoods. How quickly Indian farmers are able to adjust their farming practices to adapt to climate change, and what policies or technologies will enable rapid adaptation to climate change are issues that merit attention. |
| Keywords: | Climate Change, Impact, Agriculture, India |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:sch:wpaper:277&r=env |
| By: | Martijn Brons Author-1-Name-First: Martijn Author-1-Name-Last: Brons (European Commission – JRC - IPTS); Panayotis Christidis Author-2-Name-First: Panayotis Author-2-Name-Last: Christidis (European Commission – JRC - IPTS) |
| Abstract: | The Marco Polo programme of the European Commission aims to shift or avoid freight transport off the roads to other more environmentally friendly transport modes. The programme is implemented through yearly calls for proposals. The proposals received to each call are selected for financial support inter alia on the basis of their merits in terms of environmental and social benefits. The evaluation of each proposal's merits in terms of environmental and social benefits is based on the external costs for each transport mode. On the Commission’s request the Joint Research Centre, Institute for Prospective Technological Studies (JRC-IPTS) modified and updated the methodology underlying the calculation of external costs and the software application that automates the estimation of the impact on external costs for specific projects. The work was based on a combination of data and model results that allow the estimation of transport volumes, fleet mixes, levels of utilisation and resulting externalities with up-to-date methodologies for the economic valuation of these externalities. The new external cost methodology and calculator covers road, rail, inland waterways and short sea shipping. External cost coefficients are provided for environmental impacts (air quality, noise, climate change) and socio-economic impacts (accidents, congestion). The methodology permits the estimation of external cost coefficients for specific mode subcategories based on fuel technology, cruising speed, vehicle size, and cargo type. |
| Keywords: | freight transport, external costs of transport, sustainable transport, transport technology |
| JEL: | F18 Q51 Q53 Q54 Q55 Q56 R41 |
| Date: | 2012–07 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc72879&r=env |
| By: | Stephen Lecourt; Clément Pallière; Oliver Sartor |
| Abstract: | From Phase 3 (2013-20) of the European Union Emissions Trading Scheme carbon-intensive industrial emitters will receive free allocations based on harmonised, EU-wide benchmarks. This paper analyses and evaluates the impacts of these new rules on allocations to key energy-intensive sectors. It exploits an original dataset that combines recent data from the National Implementing Measures of 20 Member States with the Community Independent Transaction Log and ETS-installation NACE code data. The analysis reveals that free allocations to benchmarked sectors will be reduced significantly, though not excessively, in Phase 3. This reduction should both increase public revenues from carbon auctions and has the potential to enhance the economic efficiency of the carbon market. The analysis also shows that changes in allocation vary mostly across installations within, rather than across, countries. Lastly, the analysis finds evidence that the new rules will, as intended, reward installations with better emissions performance, and will improve harmonisation of free allocations in the EU ETS by reducing differences in allocation levels across countries with similar carbon intensities of production. |
| Keywords: | European Union Emissions Trading Scheme (EU ETS), CO2 allowance allocation, Emissions-performance benchmarking |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:rsc:rsceui:2013/17&r=env |
| By: | Jordi Teixidó-Figueras (Departament d’economia, Universitat Rovira Virgili, CREIP and XREAP); Juan Antonio Duro (Departament d’economia, Universitat Rovira Virgili, CREIP and XREAP) |
| Abstract: | This paper performs an empirical Decomposition of International Inequality in Ecological Footprint in order to quantify to what extent explanatory variables such as a country’s affluence, economic structure, demographic characteristics, climate and technology contributed to international differences in terms of natural resource consumption during the period 1993-2007. We use a Regression-Based Inequality Decomposition approach. As a result, the methodology extends qualitatively the results obtained in standard environmental impact regressions as it comprehends further social dimensions of the Sustainable Development concept, i.e. equity within generations. The results obtained point to prioritizing policies that take into account both future and present generations. |
| Keywords: | Ecological Footprint Inequality, Regression-Based Inequality Decomposition, Intragenerational equity, Sustainable development |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:xrp:wpaper:xreap2013-03&r=env |
| By: | Yamaguchi, Rintaro |
| Abstract: | To consider the implication of disaggregated consumption and discounting, we study discounting in a world composed of the rich and the poor, a standard setting in the literature of cost-benefit analysis with distributional considerations. We derive several discount rates for different numeraires, which would enable us to discuss intergenerational and intragenerational equity in common terms. In the example of CES-CRRA utility, we also show that disaggregated discount rates may vary owing to several factors. One important parameter of such –inequality aversion– can be determined in unknown weighting of intergenerational and intragenerational concerns. |
| Keywords: | Discounting; income distribution; climate change; environmental stock |
| JEL: | E2 O44 Q43 Q54 Q56 |
| Date: | 2012–03–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46322&r=env |
| By: | Heutel, Garth (University of North Carolina at Greensboro, Department of Economics); Ruhm, Christopher J. (University of Virginia) |
| Abstract: | Prior research demonstrates that mortality rates increase during economic booms and decrease during economic busts, but little analysis has been conducted investigating the role of environmental risks as potential mechanisms for this relationship. We investigate the contribution of air pollution to the procyclicality of deaths by combining state-level data on overall, cause-specific, and age-specific mortality rates with state-level measures of ambient concentrations of three types of pollutants and the unemployment rate. After controlling for demographic variables and state and year fixed-effects, we find a significant positive correlation between carbon monoxide (CO) concentrations and mortality rates. Controlling for CO, particulate matter (PM10), and ozone (O3) attenuates the relationship between overall mortality and the unemployment rate by 30 percent. The attenuation is particularly large, although imprecisely measured, for fatalities from respiratory diseases and is frequently substantial for age groups unlikely to be involved in the labor market. Our results are consistent with those of other studies in the economics and public health literatures measuring the mortality effects of air pollution. |
| Keywords: | Pollution; Health; Mortality; Business Cycles |
| JEL: | E32 I10 Q53 |
| Date: | 2013–04–16 |
| URL: | http://d.repec.org/n?u=RePEc:ris:uncgec:2013_007&r=env |
| By: | AROURI, Mohamed El Hedi; BEN YOUSSEF, Adel; M'HENNI, Hatem; Rault, Christophe |
| Abstract: | Studying the impact of economic growth on the environment in the context of developing countries has become of increasing economic importance in recent years. Alarming international reports showed that pollutants emissions are growing at their highest level ever, particularly in the South. This study implements recent bootstrap panel unit root tests and cointegration techniques to investigate the relationship between Sulfur dioxide emissions and real GDP for 12 MENA countries over the period 1981–2005. Our investigations lead to the result that no evidence is found for the EKC for 10 country of the region. However EKC is valid for the case of Egypt and Tunisia which are the most industrialised and diversified economies in our sample. At the same time our finding showed that EKC is not valid for the region when token as a whole. |
| Keywords: | Environmental Kuznets Curve, Sulfur Dioxide emissions, Economic Growth, panel data, MENA countries |
| JEL: | O11 Q0 Q28 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46185&r=env |
| By: | Nancy Kamp-Roelands |
| Abstract: | Green growth gains momentum, not only for governments but for companies as well. They see increasingly the opportunities that come along with ‘green growth’ as well as the relevance of mitigating environmental and social risks to which they are exposed. This paper’s central message is that high quality information is necessary to support decisions that drive green growth. |
| Date: | 2013–04–11 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envddd:2013/6-en&r=env |
| By: | Fabien Prieur; Mabel Tidball; Cees Withagen |
| Abstract: | This paper extends the classical exhaustible-resource/stock-pollution model with the irreversibility of pollution decay. Within this framework, we answer the question how the potential irreversibility of pollution affects the extraction path. We investigate the conditions under which the economy will optimally adopt a reversible policy, and when it is optimal to enter the irreversible region. In the case of irreversibility it may be optimal to leave a positive amount of resource in the ground forever. As far the optimal extraction/emission policy is concerned, several types of solutions may arise, including solutions where the economy stays at the threshold for a while. Given that different programs may satisfy the first order conditions for optimality, we further investigate when each of these is optimal. The analysis is illustrated by means of a numerical example. To sum up, for any pollution level, we can identify a critical resource stock such that there exist multiple optima i.e. a reversible and an irreversible policy that yield exactly the same present value. For any resource stock below this critical value, the optimal policy is reversible whereas with large enough resource, irreversible policies outperform reversible programs. Finally, the comparison between irreversible policies reveals that it is never optimal for the economy to stay at the threshold for a while before entering the irreversible region. |
| Keywords: | non-renewable resource, irreversible pollution, optimal policy |
| JEL: | Q30 Q53 C61 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:oxcrwp:077&r=env |
| By: | Couturier, Anna; Thaimai, Kannika |
| Abstract: | Environmentalism has become a central concern for European Union (EU) policy makers and citizens alike as the extent of the bio-crisis has become better understood. Projects aimed at reducing the environmental costs of European living, industry, and commerce have grown in number and scope in the last twenty years. Strategies for reform have focused on the ways in which established market forces can be mobilised to create change within European systems of production and consumption. For food products, the EU has undertaken two innovative projects focused on reforming both consumers and producers: the EU Ecolabel and the EU Organic logo. Similar in design yet unique in function, these product-labelling endeavours instrumentalise the normative philosophy of ecological modernisation in the hopes that incentive-based, incremental transformation in the processes of production and consumption can adequately address the challenges of environmental degradation. We find that while some opportunities for reform of the nature of the EU food market is made possible through the EU labelling schemes, the projects have limited impact on the overall food production and consumption practices and, therefore, are not able to institute substantial and much needed ecological reform. -- |
| Keywords: | Ecological Modernisation,Consumer Society,Sustainable Consumption,Bio-crisis,EU Ecolabel,EU Organic logo |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ipewps:202013&r=env |
| By: | Matthieu Glachant |
| Abstract: | The objective of the paper is to lay out the state of knowledge on the role of innovation and the diffusion of technologies in the greening of global value chains as well as some of the main policy issues and key research gaps1. A special emphasis will be put on developing countries in which innovation, skills and technological absorptive capacities tend to be lower while green technologies are urgently needed. The structure of the paper is extremely simple. In a first part, we give some concepts and definitions on technology, innovation, and the channels of technology diffusion. In a second part, we use various statistics (green patents, trade flows, and foreign direct investments) and illustrative examples to describe how technology and knowledge is created today and disseminated across countries. For data reasons, we mostly focus on climate-mitigation technologies, but there are good reasons to think that other green technologies do not significantly differ from the “average” climate mitigation technology. Then, we list and discuss key policy challenges (the role of environmental policies, intellectual property rights, capacity building, etc.). The conclusion summarizes the main lessons. |
| Date: | 2013–04–11 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envddd:2013/5-en&r=env |
| By: | Fabio Menten; Benoît Chèze; Laure Patouillard; Frédérique Bouvart |
| Abstract: | This article presents the results of a literature review performs with a meta-regression analysis (MRA) that focuses on the estimates of advanced biofuel Greenhouse Gas (GHG) emissions assessed with a Life Cycle Assessment (LCA) approach. The mean GHG emissions of both second (G2) and third generation (G3) biofuels and the effects of factors influencing these estimates are identified and quantified by means of specific statistical methods. 47 LCA studies are included in the database, providing 593 estimates. Each study estimate of the database is characterized by i) technical data/characteristics, ii) author's methodological choices and iii) typology of the study under consideration. The database is composed of both the vector of these estimates – expressed in grams of CO2 equivalent per MJ of biofuel (g CO2eq/MJ) – and a matrix containing vectors of predictor variables which can be continuous or dummy variables. The former is the dependent variable while the latter corresponds to the explanatory variables of the meta-regression model. Parameters are estimated by mean of econometrics methods. Our results clearly highlight a hierarchy between G3 and G2 biofuels: life cycle GHG emissions of G3 biofuels are statistically higher than those of Ethanol which, in turn, are superior to those of BtL. Moreover, this article finds empirical support for many of the hypotheses formulated in narrative literature surveys concerning potential factors which may explain estimates variations. Finally, the MRA results are used to adress the harmonization issue in the field of advanced biofuels GHG emissions thanks to the technique of benefits transfer using meta-regression models. The range of values hence obtained appears to be lower than the fossil fuel reference (about 83.8 in g CO2eq/MJ). However, only Ethanol and BtL do comply with the GHG emission reduction thresholds for biofuels defined in both the American and European directives. |
| Keywords: | Biofuels, GHG, LCA, Meta-analysis |
| Date: | 2013–02–27 |
| URL: | http://d.repec.org/n?u=RePEc:apu:wpaper:2013/01&r=env |
| By: | Christoph Böhringer (University of Oldenburg, Department of Economics); Thomas F. Rutherford (University of Wisconisn-Madison); Marco Springmann (University of Oldenburg, Department of Economics) |
| Abstract: | The Clean Development Mechanism (CDM) established under the Kyoto Protocol allows industrialized Annex I countries to offset part of their domestic emissions by investing in emissionsreduction projects in developing non-Annex I countries. We present a novel CDM modelling framework which can be used in computable general equilibrium (CGE) models to quantify the sector-specific and macroeconomic impacts of CDM investments. Compared to conventional approaches that mimic the CDM as sectoral emissions trading, our framework adopts a microeconomically consistent representation of the CDM incentive structure and its investment<br>characteristics. In our empirical application we show that incentive compatibility implies that the sectors implementing CDM projects do not suffer, and that overall cost savings from the CDM tend to be lower than suggested by conventional modelling approaches. |
| Keywords: | Clean Development Mechanism, Computable General Equilibrium Modeling |
| JEL: | C68 Q58 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:old:wpaper:354&r=env |
| By: | Adrien Vogt-Schilb (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CIRAD : UMR56 - CNRS : UMR8568 - Ecole des Hautes Etudes en Sciences Sociales (EHESS) - Ecole des Ponts ParisTech - AgroParisTech); Céline Guivarch (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CIRAD : UMR56 - CNRS : UMR8568 - Ecole des Hautes Etudes en Sciences Sociales (EHESS) - Ecole des Ponts ParisTech - AgroParisTech); Jean Charles Hourcade (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CIRAD : UMR56 - CNRS : UMR8568 - Ecole des Hautes Etudes en Sciences Sociales (EHESS) - Ecole des Ponts ParisTech - AgroParisTech) |
| Abstract: | La capacité des véhicules électrifiés (VE) à diminuer les émissions de gaz à effet de serre (GES) est sujette à débat. De nombreuses études fondent le calcul des émissions kilométriques des VE sur le contenu carbone de l'électricité contemporaine. Nous proposons une évaluation qui mobilise une vision cohérente de l'évolution du système énergétique dans lequel les VE doivent s'insérer. Nous utilisons un modèle de simulation prospective pour produire des scénarios contrastés de l'évolution du contenu carbone de l'électricité européenne. Cet exercice suggère que si l'Europe choisit de mettre en place des politiques climatiques destinées à réduire drastiquement ses émissions de GES, le contenu carbone de l'électricité va diminuer rapidement, prolongeant sur le long terme l'avantage actuel des VE sur les véhicules classiques en termes d'émissions par kilomètre. A long terme, l'électrification des véhicules est pertinente dans toutes les régions du monde. |
| Keywords: | véhicules électrique; gaz à effet de serre; bilan carbone; prospective; politiques climatiques |
| Date: | 2013–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-00786749&r=env |
| By: | Heymi Bahar; Jehan Sauvage |
| Abstract: | The uptake of renewable energy (RE) has been identified by a number of governments as a primary means for mitigating CO2 emissions from the electricity sector, and for making the transition to a low-carbon economy. The electric power output of some RE technologies, however, including those based on intermittent wind and solar energy, can vary considerably over short periods of time and thereby introduce instability into the electricity system. The risk of instability increases with higher shares of intermittent power sources connected to the electrical grid. Different means have been used to deal with this intermittency problem. Cross-border trade in electricity appears to be one of them since it enables countries to gain access to a more diversified portfolio of plants, producing over a wider geographic area. Preliminary results from an examination of the European electricity market confirm the importance of cross-border electricity trade in increasing the effective capacity factor of intermittent plants in the context of a growing share of intermittent renewables in the power sector. There are a number of policy issues that must first be addressed though, with some financial and administrative incentives provided to variable RE technologies discouraging RE producers from fully participating in electricity market operations and exerting downward pressure on wholesale electricity prices. The positive contribution that cross-border trade in electricity can make to address the variability problem not only depends on addressing challenges that renewable-energy technologies pose to electricity markets, but also necessitates the existence of an efficient cross-border electricity trading regime. Addressing those regulatory and administrative measures that are inhibiting growth in cross-border trade and the smooth operation of regional electricity markets would therefore help increase the potential for trade in electricity to facilitate growth in renewable energy. |
| Keywords: | trade, environment, trade barriers, renewable energy, electricity markets |
| JEL: | F18 L94 L98 Q42 Q56 |
| Date: | 2013–04–08 |
| URL: | http://d.repec.org/n?u=RePEc:oec:traaaa:2013/2-en&r=env |
| By: | Michael Mullan; Nicholas Kingsmill; Arnoldo Matus Kramer; Shardul Agrawala |
| Abstract: | Since the first OECD country published its national adaptation strategy in 2005, there has been a marked increase in national planning for climate change adaptation. This paper provides an overview of national adaptation planning activity across OECD countries and identifies some of the emerging lessons that have been learnt from their experiences. <P>The analysis draws on three main sources of information: a survey of countries’ national communications to the UN Framework Convention on Climate Change (UNFCCC); three country case studies (Mexico, England and the United States); and the results of a Policy Forum on Adaptation hosted by the OECD in 2012. It finds that twenty-six OECD countries have developed or are currently developing strategic frameworks for national adaptation and seventeen of those countries have also produced or are working on detailed national adaptation plans. Countries have made significant investments in building an increasingly sophisticated evidence base to support adaptation, and to build adaptive capacity. National governments have commonly established policies to mainstream adaptation into government operations and regulatory systems, and established co-ordination mechanisms to ensure action across government. Local and regional governments have also played significant roles in adaptation efforts, though less progress has been made in establishing systematic approaches to co-ordination between national and subnational governments. <P> The development of strategies and plans has occurred recently, with implementation still at an early stage. Nonetheless, the case studies and OECD workshop revealed three key challenges faced by countries as they have started to implement their strategies and plans: overcoming climate information shortcomings and associated capacity constraints; securing adequate financing; and measuring the success of adaptation interventions. Action to address these constraints will be vital to ensuring that progress in planning translates into improvements in outcomes. |
| Keywords: | climate change, adaptation, risk management, national planning |
| JEL: | H10 H12 Q54 Q58 |
| Date: | 2013–04–10 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaaa:54-en&r=env |
| By: | J. F. Mercure; P. Salas |
| Abstract: | This paper presents an assessment of global economic energy potentials for all major natural energy resources. This work is based on both an extensive literature review and calculations using natural resource assessment data. Economic potentials are presented in the form of cost-supply curves, in terms of energy flows for renewable energy sources, or fixed amounts for fossil and nuclear resources, with strong emphasis on uncertainty, using a consistent methodology that allow direct comparisons to be made. In order to interpolate through available resource assessment data and associated uncertainty, a theoretical framework and a computational methodology are given based on statistical properties of different types of resources, justified empirically by the data, and used throughout. This work aims to provide a global database for natural energy resources ready to integrate into models of energy systems, enabling to introduce at the same time uncertainty over natural resource assessments. The supplementary material provides theoretical details and tables of data and parameters that enable this extensive database to be adapted to a variety of energy systems modelling frameworks. |
| Date: | 2012–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1205.4693&r=env |
| By: | Arslan, Aslihan; McCarthy, Nancy; Lipper, Leslie; Asfaw, Solomon; Cattaneo, Andrea |
| Abstract: | This paper contributes to literature on agricultural technology adoption by using a novel data set that combines data from two large-scale household surveys with historical rainfall data to understand the determinants and the intensity of adoption of Conservation Farming (CF)practices in Zambia. Conservation agriculture (CA), defined as practicing minimum soil disturbance, cover crops and crop rotation, has the technical potential to contribute to food security and adaptation to climate change. It has been actively promoted in seven of Zambia’s nine provinces since the 1980s in the form of CF including planting basins and dry season land preparation in addition to the 3 CA practices. Rigorous analyses of the determinants of adoption/dis-adoption of these practices, however, are still scarce. This paper fills this gap using panel data from two rounds of the Supplemental Survey to the Central Statistical Office’s 1999/2000 Post Harvest Surveys, which were implemented in 2004 and 2008, as well as (district level) historical rainfall estimate (RFE) data obtained from the National Oceanic and Atmospheric Administration’s Climate Prediction Center (NOAA-CPC) for the period of 1996-2011. |
| Keywords: | Agricultural and Food Policy, Farm Management, |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:midcwp:147461&r=env |
| By: | Puzon, Klarizze |
| Abstract: | This study proposes a new mechanism for the resource curse: crowding-out of innovation due to the existence of an option to engage in conflict. Using a game theoretical framework, it is argued that an increase in the amount of natural resources (in the informal sector where conflict for a common-pool rent materializes) reduces the incentives of entrepreneurial groups to engage in cost-reducing R&D (in the non-resource sector where production occurs). Compared to most models of the resource curse, the impact of resource abundance on income and welfare was interestingly observed to be non-monotonic. An increase in the amount of resources in the common pool induces intensified conflict among groups and less R&D investment. Depending on the relative strengths of the income and diversion effects, three scenarios were exhibited. First, there is a 1.) Pure Blessing. This happens when both the extent of technological spillovers and the initial level of resource are low. Starting from scarcity, the increase in natural resource generates an overall jump in the groups' income levels. Even if an increase in resources decreases innovation in the formal sector, both income and welfare still go up. Meanwhile, for intermediate initial values of the natural resource, there is a 2.) Pseudo-curse. A resource boom induces an immediate income effect. However, this income gain is dominated by the indirect diversion effect due to lower output and higher price (because of less cost-reducing R&D). Consequently, while income increases, the welfare of the economy decreases. The range of resource levels where this occurs is greater when spillovers are high. Finally, a 3.) Double Curse occurs for extremely high initial levels of natural resources. Both aggregate income of the economy and welfare suffer. -- |
| Keywords: | innovation,appropriation,natural resources,conflict |
| JEL: | O13 Q33 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:71189&r=env |
| By: | Ruiqing Miao; David A. Hennessy (Center for Agricultural and Rural Development (CARD)); Hongli Feng |
| Abstract: | There have long been concerns that federal crop insurance subsidies may significantly impact land use decisions. It is well known that classical insurance market information asymmetry problems can lead to a social excess of risky land entering crop production. We provide a conceptual model to show that the problem will arise absent any information failures. This is because the subsidy is (a) proportional to acres planted, and (b) greatest for the most production risky land. Using field-level yield data, we follow this observation through to establish the implications of subsidies for the extent of crop production, with particular emphasis on the US Prairie Pothole Region, where cropland growth is likely to have marked adverse environmental impacts. Simulation results show that up to 3% of land under federal crop insurance would have not been converted from grassland if there had been no crop insurance subsidies. Sodsaver, a provision that eliminates crop insurance and Supplemental Revenue Assistance payments in the first five years of crop production on new breakings, will reduce grassland conversion by 4.9% or less. |
| Keywords: | crop insurance, copula, grassland, land use, Sodsaver, Supplemental Revenue Assistance Payments JEL Code: Q15, Q18, Q24. |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:ias:cpaper:12-wp530&r=env |
| By: | Hassan Benchekroun; Cees Withagen |
| Abstract: | We consider a nonrenewable resource game with one cartel and a set of fringe members. We show that (i) the outcomes of the closed-loop and the open-loop nonrenewable resource game with the fringe members as price takers (the cartel- fringe game à la Salant 1976) coincide and (ii) when the number of fringe firms be- comes arbitrarily large, the equilibrium outcome of the closed-loop Nash game does not coincide with the equilibrium outcome of the closed-loop cartel-fringe game. Thus, the outcome of the cartel-fringe open-loop equilibrium can be supported as an outcome of a subgame perfect equilibrium. However the interpretation of the cartel-fringe model, where from the outset the fringe is assumed to be price-taker, as a limit case of an asymmetric oligopoly with the agents playing Nash-Cournot, does not extend to the case where firms can use closed-loop strategies. |
| Keywords: | cartel-fringe, dominant firm versus fringe, price taking, nonrenewable resources, dynamic games, open-loop versus closed-loop strategies |
| JEL: | D43 Q30 L13 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:oxcrwp:080&r=env |
| By: | Jane Korinek |
| Abstract: | Mineral resources present a formidable source of wealth but a formidable challenge to regulate in order to maximize social welfare from their extraction. Some resource-rich countries, such as Chile, have been successful in developing their economies and managing their revenue streams effectively. Strong institutions and regulatory oversight have helped to capitalize on the benefits of the mining sector for economy-wide growth and development in Chile. This paper identifies some of the good practice areas in mining regulation in Chile whose economy has shown strong growth over most of the last two decades. Some of the areas touched on in this paper are the taxation of the minerals sector, management of the tax revenue, and policies designed to foster spillovers into other sectors of the economy and make the most of Chile’s comparative advantage as a long-time global leader in the copper industry. The paper concludes that there is much to be learned from the Chilean experience in regulating its mining sector and many areas where it could be well used as a model for other mineral rich economies wishing to develop their mining sectors to enhance economy-wide growth. |
| Keywords: | taxation, exchange rates, innovation, regulation, government revenue, Chile, spillovers, sovereign wealth funds, export restrictions, natural resource, price volatility, mining, copper, royalties, tax revenue management, capital-intensive, extractive industries, SWF, mining services, industry standards, world-class suppliers, fiscal responsibility, legal framework, structural balance rule, Ley Reservada del Cobre, non-renewable, resource curse debate, geological service, mineral deposits, exploration, exploitation permits, resource-rich, mineral wealth |
| JEL: | O13 O19 Q32 Q33 Q38 |
| Date: | 2013–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:oec:traaab:145-en&r=env |
| By: | Antoine Dechezleprêtre |
| Abstract: | This paper presents the first empirical analysis of programmes to fast-track 'green' patent applications in place in seven Intellectual Property offices around the world. We find that only a small share of green patent applications (between 1% and 20% depending on the patent office) request accelerated examination, suggesting that patent applicants have a strong incentive to keep their patent applications in the examination process for as long as possible. Fast-tracking programmes reduce the examination process by several years compared to patents going through normal examination procedure and have seemingly accelerated the diffusion of technological knowledge in green technologies. In addition, we find that applicants require accelerated examination for patents of relatively higher value and that fast-tracking programmes seem to be particularly appealing to start-up companies in the green technology sector that are currently raising capital but still generate small revenue. |
| Keywords: | green patent application, green innovation, Intellectual Property, sustainable development |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:cep:cepdps:dp1197&r=env |
| By: | Aimad BIADAD (Laboratoire de Recherche sur l'Industrie et l'Innovation. ULCO) |
| Abstract: | Ce rapport présente les différentes technologies de détection des gaz dangereux pour l'homme et l'environnement actuellement sur le marché. Il identifie les avantages et les inconvénients de ces différentes technologies pour permettre à l'utilisateur de faire un choix en fonction de son contexte d'utilisation. Beaucoup d’applications utilisent ce genre de détecteur, mais leur développement nécessite l’amélioration de leurs performances. Côté industriel, le marché global des capteurs chimiques connait une très forte progression (+9,6%/an) depuis la fin des années 2000 avec un volume de 15 milliards de dollars en 2010. Concernant le marché pour les équipements de détection de gaz évalué dans un rapport récent de Global Industry Analysts Inc., il est estimé à 1,24 milliards de dollars US en 2008 et devrait atteindre 1,5 milliards de dollars en 2012. Ce marché, en constante évolution depuis le début des années 90, est partagé en grande partie entre l’Amérique du Nord (USA et Canada) et l’Europe. Ceci étant, avec la rapide industrialisation de pays émergents asiatiques et sud-américains, ce marché promet un essor spectaculaire surtout avec la forte demande due aux préoccupations de notre temps en matière d’environnement, de sécurité et de contrôle des procédés. Ces dispositifs de détection offrent potentiellement des applications dans les principaux domaines qui sont le transport, l’environnement, la santé, l’industrie et l’agroalimentaire. This report presents the different detection technologies of gases hazardous to humans and the environment currently on the market. It identifies the advantages and disadvantages of these technologies to allow the user to make a choice based on its context of use. Many applications use this type of detector, but their development requires improving their performance. On the industrial side, the global market for chemical sensors is experiencing very strong growth (+9.6%/year) since the late 2000s with a volume of $15 billion in 2010. Concerning the market for gas detection equipment evaluated in a recent report by Global Industry Analysts Inc., it is estimated at $1.24 billion in 2008 and should reach $1.5 billion in 2012. This market, evolving constantly since the early 90s, is largely shared between the North America (USA and Canada) and Europe. That being said, with the rapid industrialization of emerging Asian and South American market, this market promises a dramatic growth especially with the high demand due to current concerns in terms of environment, security and process control. These sensing devices potentially offer applications to the main areas that are transportation, environment, health, industry and the food sector. |
| Keywords: | détection des gaz, industrialisation, conséquences environnementales |
| JEL: | Q5 O44 L9 |
| Date: | 2013–01 |
| URL: | http://d.repec.org/n?u=RePEc:rii:riidoc:260&r=env |
| By: | Clément WILS (Laboratoire de Recherche sur l'Industrie et l'Innovation. ULCO) |
| Abstract: | Ce rapport présente le contexte économique et social introduisant le concept de la chimie verte qui pourrait s’annoncer comme une alternative d’avenir à la pétrochimie. Il définit ce nouveau concept mis en avant au début des années 1990, tout en précisant les acteurs principaux à son émergence. Les causes de son développement seront également abordés et notamment la pression croissante des particuliers, de plus en plus soucieux de leur environnement et de leur condition de vie, envers les industriels. Enfin, nous traiterons des limites à l’émergence des innovations et des nouvelles technologies du concept mais aussi de ses perspectives difficiles afin de remplacer le paradigme pétrolier. This report deals with the economic and social environment introducing the concept of the green chemistry which could be considered in the future as an alternative to the petro chemistry. It defines the new concept imagined in the early 1990s, while specifying the main actors involved in its emergence. Finally, we discuss the limitations to the emergence of innovations and new technologies of green chemistry but also the prospects to replace the oil paradigm. |
| Keywords: | chimie verte, développement durable, industrie pétrolière |
| JEL: | O3 L6 L65 Q5 |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:rii:riidoc:263&r=env |
| By: | Olivia Koland; Martin Schönhart; Erwin Schmid |
| Abstract: | TTRIOPOL studies the role of domestic bioenergy potentials for agriculture, the wider economy and international trade for Austria. In particular, agricultural biomass pro-duction can contribute to significant shares of energy provision in Austria. A detailed scenario is developed to explore the opportunities and challenges of enhanced domestic biomass production based on short rotation forestry (SRF) for heat supply which is currently among the most competitive technologies. To that end, TRIOPOL establishes a model linkage between a sectoral supply-model for Austrian agriculture and a national small open economy general equilibrium model. Model results show that a biomass premium of 65 € per ton dry matter is required to support 250,000 ha of SRF on cropland in Austria by 2020. The thus provided bioheat covers some 33 petajoule (PJ) heat energy demand in Austria; taking into account the likely rising of energy prices by 2020, this number rises to 47 PJ. Substantial land use changes may also be compensated by increases in land use intensity and as well as changes in imports and exports. Scenario results suggest that domestic food production of non-meat commodities falls by 1.3%. The sector meat products profits from the high competitiveness of Austrian livestock production and responds by a slight increase in net exports. The results of the quantitative analysis shall support the scientific and political debate on securing food and energy supply as well as economic development goals. |
| Keywords: | Bioenergie, Landwirtschaft, Nahrungsmittelproduktion, Landnutzung, Wärmebereitstellung, Außenhandel, Modellstudie, Modellkopplung |
| JEL: | C63 C68 E20 F10 Q18 Q21 Q42 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:wsr:ecbook:2013:i:iv-004&r=env |
| By: | Uchida, Hirofumi; Miyakawa, Daisuke; Hosono, Kaoru; Ono, Arito; Uchino, Taisuke; Uesugi, Iichiro |
| Abstract: | In this paper, we investigate whether a natural selection mechanism works for firm exit. By using data of firms after a devastating earthquake, the Greeat Tohoku Earthquake, we examine the impact of firm efficiency on firm exit both inside and outside the earthquake-affected areas. We find evidence suggesting that more efficeint firms are less likely to exit both inside and outside the affected areas, which supports the natural selection mechanism. However, we also find that the mechanism is weaker for those firms whose main banks were damaged by the earthquake, which suggests that damage to banks weakens the natural selection mechanism. We also apply the same methodology to the case of the Great Hanshin-Awaji Earthquake, and again find that the natural selection mechanism works both inside and outside the affected areas. However, no significant impact of bank damage is found on the exit probability of a firm. |
| Keywords: | firm exit, natural selection, earthquake, natural disaster, evergreening |
| JEL: | L10 G21 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:hit:cinwps:25&r=env |