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on Environmental Economics |
| By: | RANAIVOSON, Tojonirina Miada Zafindraibe; LAZAMANANA, Pierre Andre |
| Abstract: | The massive release emission of greenhouse gases into the atmosphere, which has emerged as a pressing global concern, entails detrimental consequences for both the environment and the economic system. As a consequence, the severity of the consequences of climate change has disrupted economic issues and strategies. Major reorientations of economic policies, particularly climate policies, mainly based on CO2 emission levels have been adopted during various Conferences of the Parties (COP).This issue has therefore led us to investigate the effects of such climate policies on the economy as a whole. To achieve our objective, a climate DSGE model reflecting the characteristics of Madagascar has been implemented. The results of impulse response function reveal that dynamic carbon taxation proves more effective in reducing CO2 emissions compared to a quota policy, which is a source of volatility. Climate finance, on the other hand, is insufficient to stimulate the economy if not combined with carbon pricing. |
| Keywords: | Climate policies, Greenhouse gases, Carbon pricing, DSGE, Conferences of the Parties, Climate change |
| JEL: | H23 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126384 |
| By: | RANAIVOSON, Tojonirina Miada Zafindraibe; LAZAMANANA, Pierre Andre |
| Abstract: | The massive release emission of greenhouse gases into the atmosphere, which has emerged as a pressing global concern, entails detrimental consequences for both the environment and the economic system. As a consequence, the severity of the consequences of climate change has disrupted economic issues and strategies. Major reorientations of economic policies, particularly climate policies, mainly based on CO2 emission levels have been adopted during various Conferences of the Parties (COP).This issue has therefore led us to investigate the effects of such climate policies on the economy as a whole. To achieve our objective, a climate DSGE model reflecting the characteristics of Madagascar has been implemented. The results of impulse response function reveal that dynamic carbon taxation proves more effective in reducing CO2 emissions compared to a quota policy, which is a source of volatility. Climate finance, on the other hand, is insufficient to stimulate the economy if not combined with carbon pricing. |
| Keywords: | Climate policies, Greenhouse gases, Carbon pricing, DSGE, Conferences of the Parties, Climate change |
| JEL: | H23 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126370 |
| By: | Segura-García, Cristian Camilo; Botero-García, Jesús Alonso; Hurtado-Rendón, Álvaro Arturo |
| Abstract: | Climate change has gained significant relevance in recent years, encouraging many countries to implement decarbonization policies aimed at reducing carbon dioxide (CO2) emissions. While much attention has been paid to the design of these policies, there is a growing interest in analyzing their macroeconomic implications. This study evaluates the impact of the energy transition on economic growth in Colombia using a recursive dynamic computable general equilibrium (CGE) model. The model is calibrated for the year 2022 and simulates the Colombian energy economy over a ten-year horizon. Results indicate that an ambitious and sustained policy promoting non-conventional renewable energy could increase GDP growth by up to 0.5 percentage points compared to a business-as-usual (BAU) scenario. Additionally, climate shocks such as El Ni˜no may negatively affect economic performance; however, early investment in renewable energy technologies can partially offset these adverse effects. |
| Keywords: | Computable General Equilibrium (CGE), Renewable Energy, Energy Transition, Economic Growth, Colombia, Policy Simulation |
| JEL: | D58 O44 Q43 Q54 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126529 |
| By: | Sun, Dingqiang; Qie, Xueting; Huang, Kaixing |
| Abstract: | The overuse of chemical fertilizers is a global problem that has led to a series of adverse effects on the environment and human well-being. This study identifies a novel cause of fertilizer overuse: farmers’ irrational responses to lagged droughts. Employing unique plot-level data from maize production in China, we find that while drought shocks in any given year are independent, a drought in the previous year increases fertilizer use in the current year by 14.2%, with no positive effect on yield. A simple extrapolation suggests that this irrational response to lagged droughts causes an annual total fertilizer overuse of 1.1 million tons in China. This could translate to a monetary cost of 486 mil lion USD, drinking water pollution of 2-6 billion cubic meters, and carbon emissions of 8.9 million tons. Fertilizer overuse is expected to increase substantially under future climate change scenarios. We identify investment in irrigation, land consolidation toward high-productivity farmers, and the promotion of drought-tolerant crop varieties as key approaches to mitigating drought-induced fertilizer overuse. |
| Keywords: | drought, irrational response, fertilizer overuse, environmental pollution |
| JEL: | D91 Q12 Q15 Q18 Q54 |
| Date: | 2025–09–05 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126068 |
| By: | Fichter, Klaus; Neumann, Thomas; Olteanu, Yasmin; Grothey, Tim |
| Abstract: | A central element of this research by the Borderstep Institute is the systematic long-term measurement of the green start-up ecosystem in Germany. This year, the findings will be published as the "Green Startup Report 2025". The study marks a milestone: for the first time, a new, scientifically validated methodology is being used that enables a much more precise analysis of the dynamics of green start-ups. It is based on data on more than 12, 000 young companies and over 50, 000 commercial register entries on investments in start-ups. The Green Startup Report 2025 thus offers a previously unrivalled level of empirical depth and enables more well-founded statements to be made about the development of sustainable business models, their market opportunities and their actual contribution to climate protection. The analysis makes it clear that green start-ups are relevant players in the sustainable transformation. They develop market-based solutions for environmental and climate protection. Through their entrepreneurial activities, they make a measurable contribution to achieving national and European climate targets. |
| Keywords: | Entrepreneurship, Green Startup, Interpreneurship, Sustainable Entrepreneurship, Green Economy, Green Startup Report, Start-up Ecosystem, Impact, Impact Assessment, Impact Forecasting, Climate Protection Potential, Start-up funding and financing |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esrepo:330411 |
| By: | Elvis K. Ofori (Zhengzhou University, China); Simplice A. Asongu (Johannesburg, South Africa); Ernest B. Ali (Ekaterinburg, Russia); Bright A. Gyamfi (Istanbul, Turkey); Isaac Ahakwa (Hefei, China) |
| Abstract: | Since the industrial era, the selection of energy sources to facilitate economic advancement has been criticized because of the resulting ecological calamity. This has prompted the introduction of radical approaches such as ISO 14001, which tackles the drivers of pollution. Therefore, this study analyses the ISO 14001 - environment nexus from three distinct points of view BRICS, MINT, and G7 countries from 1999-2020. Also, our work fills an extant gap in assessing structural change and innovation's role in augmenting the relationship. The Driscoll and Kraay (DK) estimator is employed as an analytical tool for cross-sectional dependence and slope homogeneity, while the fixed effects approach provides sufficient robustness checks on the findings. While some outcomes vary per bloc, others are relatively similar across the three (3) blocs. That is: (1) ISO 14001 shows an abatement portfolio for only the G7 bloc, and the Full sample. (2) Structural change showed potential for abating carbon emissions in all blocs. (3) Technology led to an increase in Pollution in all blocs except for the MINT economy. (4) ICT in the form of mobile phones also help reduce carbon emissions in all three blocs except for their composite. (5) Renewable energy helps reduce carbon emission in all blocs except for G7. ISO 14001 shows the potential to encourage green growth. As a result, policymakers should work to enhance ISO 14001 certification, which might serve as a management tool to promote sustainable development. |
| Keywords: | ISO 14001, Sustainable development, Structural change, Technology, BRICSMINT, G7 |
| Date: | 2024–01 |
| URL: | https://d.repec.org/n?u=RePEc:dbm:wpaper:24/021 |
| By: | Zehao Lin |
| Abstract: | Global climate warming and air pollution pose severe threats to economic development and public safety, presenting significant challenges to sustainable development worldwide. Corporations, as key players in resource utilization and emissions, have drawn increasing attention from policymakers, researchers, and the public regarding their environmental strategies and practices. This study employs a two-way fixed effects panel model to examine the impact of environmental information disclosure on corporate environmental performance, its regional heterogeneity, and the underlying mechanisms. The results demonstrate that environmental information disclosure significantly improves corporate environmental performance, with the effect being more pronounced in areas of high population density and limited green space. These findings provide empirical evidence supporting the role of environmental information disclosure as a critical tool for improving corporate environmental practices. The study highlights the importance of targeted, region-specific policies to maximize the effectiveness of disclosure, offering valuable insights for promoting sustainable development through enhanced corporate transparency. |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2510.24002 |
| By: | El Achkar, Jean H. |
| Abstract: | Kuwait faces mounting pressure to diversify its energy mix, reduce its dependency on landfills, and meet climate targets under Vision 2035. Despite producing over 2.6 million tonnes of organic waste annually, including food and agricultural residues, sewage, and petroleum sludge, bioenergy currently remains absent from Kuwait’s energy portfolio. This paper makes a case for anaerobic digestion (AD) as a strategic enabler of Kuwait’s low-carbon transition. Regional bibliometric analysis reveals Kuwait’s peripheral role in Middle Eastern bioenergy research, characterised by limited collaboration and a lack of thematic leadership. Building on this, the study models a technoeconomic scenario for treating 50% of Kuwait’s organic waste via AD, estimating 394 Gigawatt hours (GWh) of renewable electricity annually, 197, 538 tonnes of CO₂-equivalent emissions avoided, and over $1.81 billion in profit over 20 years. A comparative framework highlights the fiscal and environmental superiority of AD over landfilling. The findings are translated into a policy roadmap that emphasises pricing reform, integration of the circular economy, public-private investment, and alignment of science and policy. AD offers Kuwait the opportunity to transform waste into renewable assets, enhance energy security, meet climate goals, and lead in regional sustainability. |
| JEL: | R14 J01 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:129838 |
| By: | Juan Cortina; Claudio Raddatz; Sergio Schmukler; Tomas Williams |
| Abstract: | This paper investigates how firms use green versus conventional debt and the associated firm- and aggregate-level environmental consequences. Employing a dataset of 127, 711 global bond and syndicated loan issuances by non-financial firms across 85 countries during 2012-23, the paper documents a sharp rise in green debt issuances relative to conventional issuances since 2018. This increase is particularly pronounced among large firms with high carbon dioxide emissions. Local projections difference-in-differences estimates show that, compared to conventional debt, green bond and loan issuances are systematically followed by sustained reductions in carbon intensity (emissions over income) of up to 50 percent. These reductions correspond to as much as 15 percent of global annual emissions. Green bonds contribute to reducing emissions by providing financing to large, high-emitting firms, whose improvements in carbon intensity have significant aggregate consequences. Syndicated loans do so by channeling a larger volume of financing to a wider set of firms. |
| Keywords: | carbon emissions; corporate bonds; firm growth; green debt; green transition; sustainability; syndicated loans. |
| JEL: | F33 G00 G01 G15 G21 G23 G31 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:gwc:wpaper:2025-012 |
| By: | Ugo Panizza (Geneva Graduate Institute and CEPR); Beatrice Weder di Mauro (Geneva Graduate Institute and CEPR); Shuyang Shi (Geneva Graduate Institute); Mitu Gulati (University of Virginia, Law School) |
| Abstract: | This paper investigates the existence, magnitude and drivers of the sovereign greenium: the yield discount on sovereign and quasi-sovereign green bonds relative to conventional bonds. Using a dataset of 332 matched pairs of green and conventional bonds issued between 2014 and 2023 by sovereigns, sovereign-backed agencies, and multilateral development institutions, we analyze secondary-market pricing to capture both crosssectional and time-varying heterogeneity. We find a small but statistically significant greenium, averaging about 2 basis points for advanced economies and nearly 13 basis points for emerging markets. The greenium is larger for lower-rated issuers and increases when climate transition risks become more salient or when issuers are more vulnerable to climate change. Interaction effects indicate that global awareness of transition risks and domestic climate vulnerability jointly amplify the greenium. While green sovereign bonds trade at lower yields, the resulting fiscal savings are economically modest relative to total interest expenditures. A novel analysis of bond documentation shows that sovereign green bonds contain no binding commitments regarding environmental outcomes, suggesting that the observed greenium reflects symbolic rather than contractual sustainability value. |
| Keywords: | Green bonds; Sovereign debt; Greenium; Sustainable finance; Climate risk; ESG investing |
| JEL: | Q54 Q56 H63 G15 G12 |
| Date: | 2025–11–04 |
| URL: | https://d.repec.org/n?u=RePEc:gii:giihei:heidwp16-2025 |
| By: | Varela Varela, Ana; Shawhan, Daniel; Funke, Christoph; Domeshek, Maya; Robson, Sally; Witkin, Steven; Burtraw, Dallas; Ünel, Burçin |
| Abstract: | While some see carbon capture, utilization, and storage (CCUS) as crucial for cost-effective decarbonization, it faces opposition based on air pollution and equity concerns. To understand this cost–air pollution trade-off, we simulate the potential impacts of allowing CCUS deployment in the US power sector under plausible climate policies. We show that the existence of this trade-off critically depends on the underlying policy, which affects the type of generation CCUS could displace: under a policy that incentivizes coal generation, CCUS might improve health outcomes and reduce costs. When we disaggregate our results, we find that the air pollution (PM2.5) effects of allowing CCUS, positive or negative, are largest for Black and low-income populations. We show that allowing CCUS can yield energy-cost savings, particularly benefiting lower-income communities. Our sensitivity analyses highlight the effects of uncertainties on costs and benefits. Overall, this study contributes to our understanding of broader distributional consequences of allowing CCUS. |
| Keywords: | air pollution; and storage; electric power; energy justice; environmental justice; incidence; utilization; carbon capture |
| JEL: | D63 H23 Q20 Q52 Q58 |
| Date: | 2024–11–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:126047 |
| By: | Elkerbout, Milan (Resources for the Future); Nehrkorn, Katarina (Resources for the Future); Holmes, Brandon (Resources for the Future) |
| Abstract: | This is the second Resources for the Future (RFF) working paper on interoperability of carbon intensity quantification methods. To read our first RFF paper on interoperability, see https://www.rff.org/publications/working-papers/trade-friendly-climate-policies-the-promise-of-interoperability/. This paper connects the ongoing debate on carbon accounting methods with existing practices in lifecycle accounting and environmental product declarations. A case study compares carbon intensity quantification methods across the EU carbon border adjustment mechanisms, the US Environmental Protection Agency’s labeling program, and an International Trade Commission study on steel and aluminum carbon intensities. This paper finds that there may be legitimate areas where product-level carbon intensity accounting choices may differ. Nevertheless, improved interoperability could still be possible by discussing and recognizing trade-offs between physical properties and policy incentives. |
| Date: | 2025–11–05 |
| URL: | https://d.repec.org/n?u=RePEc:rff:dpaper:dp-25-27 |
| By: | Gunther Capelle-Blancard (Université Paris 1 Panthéon-Sorbonne, Centre d'Econonomie de la Sorbonne) |
| Abstract: | The aim of this note is to assess whether and how the Financial Transaction Tax (FTT) could be "greened"that is, adapted or utilized to support environmental objectives and the financing of the transition to a more sustainable economy. While traditionally conceived as a regulatory tool, the FTT also holds unexploited potential as an instrument for climate finance and broader environmental alignment. This paper outlines five complementary arguments in favor of a green FTT: (1) its capacity to mobilize stable, international funding for global public goods; (2) its symbolic relevance in light of the financial sector's contribution to social and environmental disruption; (3) its ability to modestly lengthen investment horizons and counteract excessive short-termism; (4) its potential to enhance public trust in finance by matching rhetoric about sustainable finance with contributions; and (5) its prospective use as a differentiated tool to reward environmentally responsible issuers. The paper also includes a first quantitative assessment of potential revenues from a tiered green FTT, illustrating how such a mechanism could operationalize the principle of common but differentiated responsibilities and respective capabilities in climate finance. While recognizing practical limitations (in terms of governance, data reliability, and risk of complexity) the paper concludes that a well-calibrated green FTT could be a simple yet effective lever in aligning financial markets with the ecological transition |
| Keywords: | Financial transaction tax; Securities Transaction Tax; Tobin tax; Innovative Financing; Climate Finance |
| JEL: | G1 H2 Q5 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:mse:cesdoc:25012r |
| By: | Yousuf Daas; Sameh Hallaq; Kenichi Kashiwagi; Keiichi Ogawa |
| Abstract: | This study investigates the effect of climate shocks on olive oil production in Palestine, a region acutely vulnerable to both environmental change and political instability. We estimate the influences of temperature and rainfall fluctuations on four key outcomes: the olive-to-oil yield ratio, extracted oil quantity, cultivated olive volume, and olive oil prices. Our findings reveal that higher maximum temperatures significantly reduce both olive yields and oil output, while an increase in minimum temperatures exerts a positive effect. Increased rainfall enhances oil yield and production but simultaneously depresses prices through supply expansion. Results are robust to fixed-effect specifications and non-linear models, and show strong regional heterogeneity. Southern districts are particularly sensitive to rainfall variability and high temperatures. These findings highlight the economic risks of climate shocks to Palestinian olive oil producers and demonstrate the urgent need for adaptive strategies that are regionally tailored and climate resilient. |
| Keywords: | Climate Change and Economic Policy; Olive Oil; Agricultural Shocks; Palestine |
| JEL: | Q54 Q12 O13 N55 |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:lev:wrkpap:wp_1089 |
| By: | Margherita Giuzio; Sujit Kapadia; Dilyara Salakhova; Katia Vozian |
| Abstract: | Using data on verified carbon emissions from the EU emissions trading system, this paper examines the relationship between leverage and transition performance for highly polluting and mostly non-listed ETS firms over 2013-2019 that are responsible for approximately 20% of total EU emissions. Panel regression analysis indicates that, up to a certain point, firms with higher leverage have lower emissions and improved emission efficiency in subsequent years. But beyond that point, greater leverage is associated with worse transition performance. Exploiting a 2015 policy shock aiming at toughening the emissions regime in a difference-in-differences setup, we also identify a group of firms that appear too indebted to transition towards low-carbon technology. |
| Keywords: | Low-Carbon Transition; Climate Change; Debt Finance; Leverage; Green Investment; EU ETS |
| JEL: | C58 E58 G32 Q51 Q56 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:bfr:banfra:1011 |
| By: | Kopp, Thomas; Finger, Robert; Huber, Robert; Nabernegg, Markus; Sexton, Richard J. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gewi24:364720 |
| By: | Buhk, Jan-Hendrik; Tiedemann, Torben; Latacz-Lohmann, Uwe |
| Keywords: | Environmental Economics and Policy |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gewi24:364736 |
| By: | Srivastava, S. K.; Kishore, Prabhat; Birthal, Pratap Singh; Shirsath, P. B. |
| Keywords: | Environmental Economics and Policy, Crop Production/Industries, Sustainability |
| Date: | 2024–11–01 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpp:349210 |
| By: | Birthal, Pratap S.; Hazrana, Jaweriah; Roy, Devesh; Satyasai, K. J. S |
| Abstract: | Climate change is one of the biggest challenges to sustainable development of agriculture, and consequently to the livelihood of farming communities, and the governments’ efforts to improve food and nutrition security and reduce poverty, especially in countries more exposed to climate risks and dominated by small-scale producers who often lack finance for investment in risk management. During the past two decades, climate finance for agriculture has attracted considerable attention in policy debates, yet agriculture’s share in the total climate finance has remained minimal. Empirical evidence presented in this paper distinctly highlight the role of finance in building resilience of agriculture. These provide a basis for a change in policy stance to emphasize climate finance in investment and credit planning in agriculture, and the need for innovative approaches to deliver finance that is climate sensitive. Climate risks are predicted to be severe in plausible future climate scenarios; hence, the need for climate finance for agriculture cannot be understated. Current level of climate finance for agriculture is not commensurate with its requirement. Today’s investments in climate actions will shape future trajectory of agricultural growth, and its economic and social outcomes. I hope this paper will be useful for policymakers, financial institutions and other stakeholders to take informed decisions on financing agriculture for risk management. |
| Keywords: | Agribusiness, Agricultural Finance, Environmental Economics and Policy, Food Consumption/Nutrition/Food Safety, Food Security and Poverty, Risk and Uncertainty, Sustainability |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpp:344992 |
| By: | Artikova, Aziza; Egamberdiev, Bekhzod; Khamidov, Imomjon; Primov, Abdulla |
| Abstract: | The development of appropriate climate change makes people perceive it in a certain way, and is critical to formulating appropriate environmental policies and environmental education campaigns. In this article, the authors discuss the perception of climate change in four Central Asian countries — namely, the Kyrgyz Republic, Kazakhstan, Tajikistan, and Uzbekistan —as well as the Caucasus region and Eastern Europe. |
| Keywords: | Climate change, Perception, Central Asia, Eastern Europe and Caucasus |
| JEL: | Q54 Q56 P48 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:330338 |
| By: | Kodama, Wataru; Friederichs, Petra; Nematbakhsh, Amin; Odening, Martin; Szemkus, Svenja; Seifert, Stefan; Hüttel, Silke |
| Abstract: | Farms and landowners seem reluctant to invest in climate change adaptation despite socio-economic benefits. However, a dynamic economic model suggests that under uncertain future climate change, observed adaptation “reluctance” may be in fact optimal from the decision-makers’ perspective. This is because decision-makers consider the value of waiting to gather information about future climate and weather before committing to investment. To investi-gate how future climate change shapes adaptation behavior, this study presents an analytical framework that integrate scenario-based climate model projections into a dynamic economic model of the adaptation decision. Using adaptation decision of the Austrian farms as a case example, we use projections of temperature and precipitation under the Shared Socioeconomic Pathways (SSP) scenarios from Coupled Model Intercomparison Project Phase 6 (CMIP6) simulations. The future projections are used to calibrate the climate change parameters within the economic model to analyze adaptation responses. We find that adaptation reluctance in-tensifies particularly in response to revenue downside shocks induced by weather extremes, and due to increased uncertainty in future climate change the likelihood of adaptation under severe climate change scenarios is not necessarily higher than under mild scenarios. We also find that adaptation subsidies can enhance the likelihood. These results suggest that with in-creasing frequency and intensity of extreme events in future, the expected loss without adap-tation will increase while the reluctance will also increase, and the adaptation investment tim-ing will appear even more delayed. Such delays may incentivize policymakers to provide public interventions such as subsidies to induce adaptation investment. However, they should carefully compare the value of adaptation reluctance and the social costs of the reluctance (e.g., negative externalities) to justify the interventions. |
| Keywords: | climate change adaptation, real options approach, climate change projection, weather extremes, Shared Socioeconomic Pathways |
| JEL: | D25 D81 Q54 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:330341 |
| By: | Kumar, Anil; Birthal, Pratap S. |
| Abstract: | In developing countries, rural communities have long recognized the importance of dung as a source of renewable energy for domestic purposes and organic fertilizers for crop production. However, the utility of dung, both as a source of energy and fertilizers, has diminished owing to the increasing use of chemical fertilizers and fossil fuels, rendering it a less essential resource and a potential environmental contaminant. Nevertheless, owing to their increasingly negative externalities on natural resources and the environment, a new perspective has emerged on the utility of dung as biogas and bio-compressed natural gas (CNG), while maintaining its traditional use as an organic fertiilizer. |
| Keywords: | Agricultural and Food Policy, Crop Production/Industries, Supply Chain |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpb:358873 |
| By: | Sam Marginson |
| Abstract: | A New Collective Quantitative Goal for climate finance has been agreed, with a minimum of 300 billion USD to be provided for climate action in developing countries by 2035. A further goal was agreed to increase this value to 1.3 trillion USD. Many developing countries have emissions reductions targets that are conditional on receiving sufficient finance for those targets to be achieved. This paper considers the trade-off of an extra trillion dollars in investment for the additional emissions reductions that will be achieved as a result. It considers whether those same emissions reductions could be achieved with lower impact on the income of the source regions for the investment and finds that it cannot. Should Annex I regions attempt to achieve equivalent emissions reductions themselves, the result is that incomes are lower in almost all regions and by up to 2.7% in 2030, with even some notable free riders being worse off. Output is lower in most regions and investment is also lower in most of the Annex I regions that shoulder the additional emissions mitigation burden. Globally the impacts are similarly negative, with global investment 3.5% lower in 2030. Conversely, in the case where developing countries receive the additional finance, impacts are significantly positive, with incomes up to 1% higher in 2030. However, even when the conditional emissions reductions are undertaken, they are insufficient to stop global emissions from continuing to rise until the end of the decade. More ambition is necessary. |
| Keywords: | Nationally Determined Contributions, climate policy, Computable General Equilibrium, greenhouse gas emissions, climate change, climate finance |
| JEL: | Q54 C68 O44 P18 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:cop:wpaper:g-358 |
| By: | Lohawala, Nafisa (Resources for the Future); Linn, Joshua (Resources for the Future); Bioret, Lucie (Resources for the Future); DeAngeli, Emma (Resources for the Future); Roy, Nicholas (Resources for the Future); Spiller, Beia (Resources for the Future) |
| Abstract: | This paper presents a retrospective analysis of the Environmental Protection Agency (EPA) 2007 regulations targeting NOx emissions from heavy-duty vehicles. We replicate EPA’s on-road emissions model and compare the assumptions used in its analysis—vehicle sales, scrappage rates, NOx emission rates, and vehicle use—with actual outcomes in 2022. This comparison evaluates the accuracy of EPA’s assumptions and their long-term impact on NOx reduction estimates, providing a basis to assess the accuracy of the similar methodology used in the recent 2022 standards. We find that EPA’s most significant prediction error was overestimating scrappage rates of older vehicles, which led to underestimated emissions both with and without the policy; on net, this resulted in an underestimation of emissions reductions by 0.52 million tons. Conversely, EPA underestimated miles traveled by older vehicles, which, on net, overestimated emissions reductions, as these high-emission vehicles traveled more than expected. Anticipatory sales effects before 2007 had minimal effects on emissions in 2022. Although certified emissions have consistently been below required standards, this discrepancy had only a minor effect on EPA’s overall emissions predictions. |
| Date: | 2025–04–23 |
| URL: | https://d.repec.org/n?u=RePEc:rff:dpaper:dp-25-12 |
| By: | Franziska Funke; Théo Konc; Linus Mattauch; Michael Pahle; Antonia Schwarz; Stephan Sommer |
| Abstract: | We propose a theory of public appraisal and employ it to explain divergent public opinion on similar economic policy instruments. In a survey-based policy design experiment with 13, 665 respondents from seven European countries, we study how policy perceptions and support rates differ across carbon pricing designed as “carbon taxation” and “emissions trading”. While there is considerable cross-country variation in the appraisal of both instruments, the emissions trading design reduces opposition in all countries except Germany. We find that the treatment effects of instrument design on policy perceptions are substantial: carbon taxes are consistently more often perceived as increasing the state budget, harming the economy, and increasing costs of living and production. Using causal mediation analysis, we ascertain that lower opposition to emissions trading is partly due to its perception as less costly. Overall, our results suggest that the public consistently perceives taxes as a “tougher” measure, and that emissions trading appeals more to European constituencies not already supportive of climate policy. |
| Keywords: | political economy, climate change, cap-and-trade, carbon tax, perceptions |
| JEL: | Q54 Q58 D78 H23 P48 |
| Date: | 2025–10–09 |
| URL: | https://d.repec.org/n?u=RePEc:bdp:dpaper:0076 |
| By: | Mandal, Subhasis; Kumar, Suresh; Singh, Jogendra; Jain, Rajni; Kandpal, Ankita |
| Keywords: | Environmental Economics and Policy, Crop Production/Industries, Environmental Economics and Policy, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2024–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpb:344939 |
| By: | Hansj\"org Albrecher; Jinxia Zhu |
| Abstract: | This paper explores the optimal policy for using an allocated carbon emission budget over time with the objective to maximize profit, by explicitly taking into account present-biased preferences of decision-makers, accounting for time-inconsistent preferences. The setup can be adapted to be applicable for either a (present-biased) individual or also for a company which seeks a balance between production and emission schedules. In particular, we use and extend stochastic control techniques developed for optimal dividend strategies in insurance risk theory for the present purpose. The approach enables a quantitative analysis to assess the effects of present-bias, of sustainability awareness, and the efficiency of a potential carbon tax in a simplified model. In some numerical implementations, we illustrate in what way a higher degree of present-bias leads to excess emission patterns, while placing greater emphasis on sustainability reduces carbon emissions. Furthermore, we show that for low levels of carbon tax, its increase has a positive effect on curbing emissions, while beyond a certain threshold that marginal impact gets considerably weaker. |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2510.27384 |
| By: | Yu Lilin Wätzold, Marlene; Cooke, Amanda; Ocampo-Ariza, Carolina; Umarishavu, Françoise; Wollni, Meike |
| Abstract: | Voluntary sustainability standards (VSS) provide consumers with the assurance that certified products are produced under more sustainable conditions. While the literature on VSS has expanded considerably, most studies rely on cross-sectional data, thereby providing only a snapshot in time and focus on the effects on single sustainability dimensions, thereby neglecting potential trade-offs between multiple dimensions. In addition, little is known of the extent outcomes are influenced by the duration of participation. Economic gains may accrue in the short to medium term, whereas ecological effects often take longer to materialize. Our study addresses these gaps by using a unique three-wave panel dataset from Rwanda’s smallholder coffee sector. We combine household-, buyer- and plot-level data to estimate how in-house certification (C.A.F.E. Practices), third-party certification (The Rainforest Alliance, Fairtrade, Organic, 4C), and certification duration are associated with both socioeconomic and ecological outcomes. Our results suggest that only third-party certification is significantly positively associated with socioeconomic outcomes such as coffee yield, prices, profits and returns to land. Moreover, we find that for both VSS types the socioeconomic outcomes increase, the longer a household is certified. Regarding ecological outcomes, only third-party certification duration shows significant positive associations with shade tree density. In addition, for both VSS types, we do not find any significant associations with outcomes related to animal diversity. Overall, the findings highlight that VSS should be understood as a long-term process where sustainability-related changes materialize over time. The findings also suggest that the environmental requirements – especially of in-house schemes – may be set too low. |
| Keywords: | Agricultural and Food Policy, Environmental Economics and Policy, Land Economics/Use, Sustainability |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gausfs:373420 |
| By: | Tesfaye T. Lemma; Michael Machokoto; Marvelous Kadzima |
| Abstract: | This study examines the impact of climate risk and climate policies on capital flows in Southern African Development Community (SADC) countries. Using data from 10 SADC countries spanning 2000 to 2022, we find that climate risk proxied by extreme weather and climatic events negatively affects aggregate international capital flows and their individual components: direct investments, portfolio investments and other investments. Similarly, the extensiveness of climate policies is associated with a decline in capital flows across all three categories. These inverse relationships persist whether international capital inflows or outflows are used as the dependent variable. The findings remain robust after addressing potential biases related to omitted variables, measurement issues, endogeneity and self-selection. This study offers important policy insights for SADC economies a region highly vulnerable to climate change yet relatively under-researched. |
| Date: | 2025–11–06 |
| URL: | https://d.repec.org/n?u=RePEc:rbz:wpaper:11093 |
| By: | Allegra Pietsch; Dilyara Salakhova |
| Abstract: | The green bond market has experienced rapid growth in recent years, driven by increasing global awareness of climate change. However, the existence, magnitude and driving forces behind the “greenium” in the secondary market - a price premium associated with green bonds - remain subject to debate. This study investigates the evolution of the greenium in the euro area from 2016 to 2023, encompassing a period of significant macroeconomic shifts, including the COVID-19 pandemic, energy crisis, and the subsequent period of heightened inflation and monetary tightening. Our analysis applies a k-prototypes matching algorithm to construct a closely matched panel of European green and conventional bonds and documents a novel finding that retail investors' demand for green bonds partly drives the greenium. Sensitivity of retail investors' financial conditions to the macroeconomic situation and particularly tighter monetary policy may explain investors' appetite for green bonds and thus the greenium time dynamics. Finally, we confirm investors' preferences for green bonds with higher credibility of both bonds and bond issuers. |
| Keywords: | Green Bonds; Greenium; Retail Investors; Sustainable Finance; Corporate Sustainability |
| JEL: | G12 G14 Q50 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:bfr:banfra:1010 |
| By: | Paparella, Antonio; Petsakos, Athanasios; Davis, Kristin E.; Song, Chun |
| Abstract: | Agro-silvo-pastoralism is an agricultural practice combining crop cultivation (agro), forestry (silvo), and animal husbandry (pastoralism) within the same system. It is an integrated approach to land management, applicable to a wide range of ecological conditions [1] that aims to create a harmonious interconnection between its components, thereby maximizing overall system productivity, promoting production diversification and biodiversity, and ensuring sustainability [2]. Agro-silvo-pastoralism systems were already known during the Roman Empire; such systems are mentioned in works like "De Agri Cultura" by Cato (second century B.C.), "Naturalis Historia" by Pliny the Elder (first century B.C.), and "De Re Rustica" by Varro (37 B.C.) [3]. Archeological studies prove that the practice is rooted in the Bronze Age [4], [5]. In recent years, the interest in agro-silvo-pastoralism has been renewed because of its potential to sustain rural farming in marginal areas and to adapt to the challenges posed by climate change [6]. In Brazil, for example, areas under agro-silvo-pastoralism amount to 17 million hectares, with a potential to reach three times that number. |
| Keywords: | pastoralism; agrosilvopastoral systems; natural resources; nature conservation |
| Date: | 2025–10–31 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:issbrf:177485 |
| By: | Kirchweger, Stefan; Politor, Hannah; Kinglmayr, Katharina; Schaller, Lena |
| Keywords: | Environmental Economics and Policy |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gewi24:364744 |
| By: | Akinsete, Ebun; Velias, Alina; Papadaki, Lydia; Chatzilazarou, Lazaros-Antonios; Koundouri, Phoebe |
| Abstract: | The increasing pressure on global water supplies from overexploitation, drought, and pollution necessitates efficient and sustainable water management. Integrated water resource management strategies have shown effectiveness in decision support, but a deeper integration of economic and participative methodologies is needed. This research reviews the core characteristics and directions of experimental economics and living labs (LLs) and aims to address three research questions, namely, how the participatory, real-world environment of living laboratories can be incorporated into the controlled, hypothesis-driven nature of experimental economics; what is the significance of behavioral insights that are derived from experimental economics in the design and implementation of living labs; and how these two approaches can be merged under one framework. The focus of this review is the improvement of water resource management through collaborative and stakeholder-driven innovation. LLs provide authentic environments for cocreation, allowing scientists and stakeholders to address water-related issues such as supply, demand, and shortage. These environments connect controlled experimental conditions with real applications, providing comprehensive insights into behavioral reactions and policy formulation. LLs can enhance and be strengthened by economic methodologies, particularly in water valuation through integrated frameworks accounting for environmental externalities and opportunity costs. Finally, this article shows that integrating behavioral insights and experimental approaches within LLs improves the external validity of experimental economics by putting interventions in real-world settings. |
| Keywords: | behavioral microeconomics; field experiments; water resource management; water supply and demand; analysis of collective decision-making |
| JEL: | C92 C93 D70 D90 Q25 Q53 |
| Date: | 2025–10–31 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:129901 |
| By: | Birthal, Pratap S.; Srivastava, Shivendra Kumar; Saxena, Raka; Godara, S.; Chand, Prem; Kishore, Prabhat; Jumrani, Jaya; Kandpal, Ankita; Sharma, Purushottam; Pant, Devesh Kumar |
| Abstract: | Indian agriculture has reached the stage of unprecedented achievements, accompanied by unprecedented challenges. It has witnessed an all-time high growth of approximately 4% during the past decade ending 2023-24, which is likely to continue with the right set of technologies, policies and institutions. However, it is pertinent to examine the factors underlying these achievements and their associated costs to prepare a roadmap for sustainable growth of agriculture to achieve the national goals of food and nutrition security, and inclusive development. In some states, agricultural sector has emerged as the primary driver of economic growth. However, this occurred because of the intensive use of resources and prioritizing short-term gains over long-term sustainability in most cases. This is evidenced by the factors such as increased use of fertilizers to produce the same amount of output, declining groundwater levels, soil degradation, and environmental pollution. |
| Keywords: | Agricultural and Food Policy, Crop Production/Industries, Research and Development/Tech Change/Emerging Technologies, Sustainability |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpp:358871 |
| By: | Tanguy Bonnet |
| Abstract: | Low-carbon technologies are highly intensive in critical minerals for which extraction and transformation generate heavy socio-environmental negative externalities. Global trade flows of such materials and technologies are part of a singular macroeconomy, filled with geopolitical issues and national strategies.This paper aims to draw on environmental justice and ecological macroeconomics theoretical frameworks in order to assess the global material allocation of critical minerals and low-carbon technologies, and question its equity and efficiency, in the lens of the ecologically unequal exchange theory.Peripheral mining countries assume the heavy socio-environmental costs related to the extractive activities, while global trade flows enable an asymmetrical material allocation toward richer core countries. Two countries stand out : China, as the semi-periphery, and the US, as the challenged core.The paper also discusses how shifting geopolitics, geo-economic fragmentation and national strategies could modify such patterns of ecologically unequal exchange. |
| Keywords: | critical minerals ; global trade flows ; ecologically unequal exchange ; environmental justice ; geo-economic fragmentation |
| JEL: | Q42 L72 F18 Q37 Q56 Q57 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:drm:wpaper:2025-39 |
| By: | Christian Krekel |
| Abstract: | Using wellbeing data to assess benefits for residents. |
| Keywords: | parks, green spaces, mental health, quasi-natural experiment, compensating surplus, wellbeing |
| Date: | 2025–10–21 |
| URL: | https://d.repec.org/n?u=RePEc:cep:cepcnp:716 |
| By: | de Jesus Souza, Gilvan; da Silva, Aline Veronese |
| Abstract: | This study investigates the resilience of Brazil’s soybean supply chain to climatic and economic shocks by identifying structural breaks in production, yields, and price trends from 2006 to 2024. Using econometric techniques such as Bai-Perron multiple break tests, as well as stationarity diagnostics (ADF, CUSUM), the analysis reveals that climate induced disruptions can be key drivers of volatility in soybean prices and yields. Four structural breaks were detected in October 2008, June 2012, February 2016, and November 2020, aligning with global crises, severe droughts, and supply chain disruptions. Results highlight strong regional disparities: Southern states (Rio Grande do Sul, Paraná) exhibit increasing vulnerability to droughts and reduced resilience, while the Central-West (notably Mato Grosso) demonstrates adaptive capacity supported by investments in irrigation and climate smart agriculture. These findings emphasize the need for region specific adaptation strategies and policies that integrate climate risk management, infrastructure, and sustainable production practices. This study was financed in part by the Coordenação de Aperfeiçoamento de Pessoal de Nível Superior – Brasil (CAPES) – Finance Code 001. |
| Keywords: | Environmental Economics and Policy |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ags:eaae25:369136 |
| By: | Clarisse Joachim (CHU de Martinique - Centre Hospitalier Universitaire de Martinique [Fort-de-France, Martinique]); Wendy Boutant; Rémi Houpert; Jacqueline Veronique-Baudin; Pascal Saffache; Jean-Pierre Bellanger |
| Keywords: | Résilience, santé publique, pédagogie, dérèglement climatique, risques naturels majeurs |
| Date: | 2025–10–13 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05324809 |
| By: | Eskander, Shaikh; Higham, Catherine; Hamley, Maggie; Setzer, Joana; Fankhauser, Samuel |
| Abstract: | One theory about company- and country-level climate actions is that they interact with one another through a mutually reinforcing “ambition loop”. Using publicly available data on country- and company-level net-zero targets, our econometric analysis reveals a positive relationship between state and company: a country introducing a domestic net-zero target in law increases the likelihood of companies introducing their own voluntary targets and vice-versa. Our findings offer important insights into the mechanisms of climate governance – knowledge that will be critical if we are to meet global net-zero targets by 2050. |
| Keywords: | ambition loop; climate targets; climate law; global comparison; net-zero targets; Ambition loop; Strategic Research Fund through Oxford Net Zero. |
| JEL: | Q54 Q58 P00 K32 H32 |
| Date: | 2024–05–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:122252 |
| By: | Mahabubur Rahman (ESC [Rennes] - ESC Rennes School of Business); M Ángeles Rodríguez-Serrano (Universidad de Sevilla = University of Seville); Md Tareq Bin Hossain (TU - Thammasat University) |
| Abstract: | While prior studies broadly explored the consequences of environmental innovation, the implications of environmental product innovation for firm performance have received relatively scant research attention. Past studies theorizing that environmental product innovation has a linear effect on firm performance have reported mixed results, indicating that the association between the two is far more complex than conceptualized by earlier research. Drawing on the natural resource-based view of the firm and the resource dependence theory, this study theorizes that the impact of environmental product innovation on firm growth follows a curvilinear (inverted Ushaped) pattern. It is also posited that this curvilinear relationship is moderated by marketing intensity, sustainability disclosure strategy and a firm's propensity to engage in deviant corporate practices. Using a sample of U.S.-based firms and employing an endogeneity-robust econometric modelling technique, this study demonstrates that the effect of environmental product innovation on firm growth is initially positive but subsequently becomes negative. Further, this research shows that this curvilinear relationship between environmental product innovation and firm growth is moderated by a firm's sustainability disclosure strategy (the curve flattens), marketing intensity (the curve flattens) and by a firm's level of engagement in deviant corporate practices (the curve steepens). The results are robust to additional sensitivity analyses. |
| Keywords: | Sustainability disclosure, Deviant corporate practices, Marketing intensity, Firm growth, Environmental product innovation |
| Date: | 2025–12 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05280178 |
| By: | Kumar, Suresh; Birthal, Pratap S.; Kumar, S.; Yadav, R. K. |
| Abstract: | Sustaining livelihoods in fragile environments, characterized by land degradation amidst the increasing threat of climate change, is a significant challenge. Soil salinity and other forms of land degradation severely affect crop yield and food supply. Hence, both preventive and curative strategies are essential for managing salt-affected and waterlogged saline soils. To effectively promote such strategies, policymakers need robust evidence on their socioeconomic impacts. This study provides evidence of the economic impact of subsurface drainage technologies. In addition, it identifies constraints faced by farmers and project implementation agencies during the execution and operation of the subsurface drainage system. By highlighting these challenges, this study offers valuable insights into the practical difficulties in implementing strategies for reclamation of waterlogged saline soils. |
| Keywords: | Environmental Economics and Policy, Crop Production/Industries, Food Security and Poverty, Land Economics/Use, Sustainability |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpp:358870 |
| By: | Resta, Onofrio; Resta, Emanuela; Costantiello, Alberto; Liuzzi, Piergiuseppe; Leogrande, Angelo |
| Abstract: | This paper examines the environmental and infrastructure determinants of respiratory disease mortality (TRD) across European nation-states through an original combination of econometric, machine learning, clustering, and network-based approaches. The primary scientific inquiry is how structural environmental variables, such as land use, energy mix, sanitation, and climatic stress, co-interact to affect respiratory mortality across regions. Although prior literature has addressed individual environmental predictors in singleton settings, this paper fills an integral gap by using a multi-method, systems-level analysis that accounts for interdependencies as well as contextual variability. The statistical analysis draws on panel data covering several years and nation-states using fixed effects regressions with robust standard errors for evaluating the effects of variables such as agricultural land use (AGRL), access to electricity (ELEC), renewable energy (RENE), freshwater withdrawals (WTRW), cooling degree days (CDD), and sanitation (SANS). We employ cluster analysis and density-based methodology to identify spatial and environmental groupings, while machine learning regressions—specifically, K-Nearest Neighbors (KNN)—are utilized for predictive modeling and evaluating feature importance. Lastly, network analysis identifies the structural connections between variables, including influence metrics and directional weights. We obtain the following results: Consistently, across all regressions, AGRL, WTRW, and SANS feature importantly when determining the effect for TRD. Consistently across all networks, influencer metrics identify AGRL, WTRW, and SANS as key influencers. Consistently across all models, the best-performing predictive regression identifies the nonlinear (polynomial or non-monotone), context-sensitive nature of the effects. Consistent with the network results, the influencer metrics suggest strong connections between variables, with a particular emphasis on the importance of holistic environmental health approaches. Combining the disparate yet complementary methodological tools, the paper provides robust, understandable, yet policy-relevant insights into the environmental complexity driving respiratory health outcomes across Europe. |
| Keywords: | Respiratory Disease Mortality, Environmental Determinants, Machine Learning Regression, Network Analysis, Panel Data Models |
| JEL: | C23 C38 C45 I0 I00 I1 I10 |
| Date: | 2025–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126073 |
| By: | Jacob Moscona |
| Abstract: | This paper investigates how innovation responded to and shaped the economic impact of the American Dust Bowl, an environmental catastrophe that led to widespread soil erosion on the US Plains during the 1930s. Combining data on county-level erosion, the historical geography of crop production, and crop-specific innovation, I document that in the wake of the environmental crisis, agricultural technology development was strongly and persistently re-directed toward more Dust Bowl-exposed crops and, within crops, toward bio-chemical and planting technologies that could directly mitigate economic losses from environmental distress. County-level exposure to Dust Bowl-induced innovation significantly dampened the effect of land erosion on agricultural land values and revenue. These results highlight the role of crises in spurring innovation and the importance of endogenous technological progress as an adaptive force in the face of disasters. |
| JEL: | O3 O31 O33 Q1 Q16 Q54 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34438 |
| By: | Prem, Chand; Kumara TM, Kiran; Pal, Suresh; Naik, Kalu |
| Abstract: | Sustainable development of agriculture is essential to achieve the multiple goals of improving food and nutrition security, improving farmers’ income, and reducing poverty, especially in developing countries like India where agriculture is the main source of livelihood for millions of small-scale producers. Hence, understanding the dimensions and indicators of sustainability is important for targeting technologies and policies for ensuring inter-general equity in agriculture. Considering several dimensions and indicators related to soil health, water management, ecology, and socioeconomic conditions this study has constructed composite indices of agricultural sustainability for major states of India. These indices will aid policymakers to identify weak linkages in agricultural development at a spatial scale, and accordingly take corrective actions. |
| Keywords: | Food Consumption/Nutrition/Food Safety, Food Security and Poverty, Production Economics, Research and Development/Tech Change/Emerging Technologies, Sustainability |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpp:344993 |
| By: | Mwangi, Peter; Elnour, Zuhal; Grethe, Harald |
| Keywords: | Environmental Economics and Policy |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gewi24:364749 |
| By: | David Andrés-Cerezo (Universitat Autònoma de Barcelona and BSE); Natalia Fabra (CEMFI, Centro de Estudios Monetarios y Financieros) |
| Abstract: | Decarbonizing the power sector requires major investments in renewables and storage. Though often seen as complementary, these technologies can act as substitutes from an economic perspective. When renewable output correlates positively with demand and capacity is low, storage may lower renewable profits, and viceversa, especially with strategic thermal producers. In markets with negatively correlated renewable availabilities, like solar and wind, storage can benefit one while disadvantaging the other. These findings inform policies on the timing and effectiveness of mandates or subsidies, suggesting that solar investments may need an initial push before supporting storage. Simulations of the Spanish market show that, at high solar penetration, storage boosts solar but reduces wind profits. |
| Keywords: | Energy storage, renewable energy, mandates, market power, transmission constraints, electricity markets. |
| JEL: | L94 Q40 Q42 Q48 Q50 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:cmf:wpaper:wp2025_2522 |
| By: | Batabyal, Amitrajeet |
| Abstract: | We study the merits of regulating water pollution in the Ganges river caused by tanneries in Kanpur, India, by unitizing or merging the polluting tanneries. We first describe the � ≥ 2 polluting tanneries in Kanpur as a Cournot oligopoly in which all tanneries incur fixed and variable costs in producing leather. Second, we derive the Nash equilibrium output of leather and profits and discuss how many tanneries can survive in this equilibrium as a function of the fixed costs. Third, we permit � |
| Keywords: | Fixed Cost, Ganges River, Tannery, Unitization, Water Pollution |
| JEL: | G34 Q25 |
| Date: | 2025–02–15 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126501 |
| By: | Catalina Sandoval-Alvarado (Department of Economic Research, Central Bank of Costa Rica); Mónica Rodríguez-Zúñiga (Department of Integration and Data Analysis, Central Bank of Costa Rica) |
| Abstract: | Greater climate variability and the increase in the frequency and severity of extreme weather events represent major economic and social challenges. Unusual weather conditions can alter consumption patterns and have macroeconomic implications. This paper examines the relationship between consumption expenditure and extreme hydrometeorological events in Costa Rica between January 2019 and May 2022. The effect on total consumption and category-specific consumption is estimated using cantonal-scale data with a two-way fixed-effect (TWFE) model. This approach exploits two exogenous sources of variation: the likelihood of experiencing an extreme event in the cantons and the timing of its occurrence. The results indicate that extreme rainy events harm consumption, particularly in categories related to mobility. This is reflected in reduced spending on fuel, hotels, clothing, and supermarkets. Meanwhile, extreme dry events appear to induce a reallocation of spending across consumption categories. During the rainy season, these events are associated with increased spending on fuel and hotels but decreased spending on health services and supermarkets. The effects of both types of extreme events are transitory in most categories. ***Resumen: La mayor variabilidad climática y el aumento en la frecuencia y severidad de eventos meteorológicos extremos representan grandes desafíos económicos y sociales. Condiciones inusuales en el clima pueden alterar los patrones de consumo y tener implicaciones macroeconómicas. Este trabajo explora la relación entre el gasto en consumo y los eventos hidrometeorológicos extremos en Costa Rica entre enero de 2019 y mayo de 2022. Se estima el efecto en el consumo total y por categorías al usar datos a escala cantonal mediante un modelo de efectos fijos en dos vías (TWFE). Este enfoque explota dos fuentes exógenas de variación: la probabilidad de experimentar un evento extremo en los cantones y el momento en que ocurre. Los resultados indican que los eventos extremos lluviosos tienen un efecto negativo en el consumo total, particularmente en categorías que se relacionan con movilidad. Por ejemplo, se estima un menor consumo de combustibles, hoteles, vestimenta y supermercados. Mientras que los eventos extremos secos parecen inducir un intercambio en el gasto entre categorías de consumo. En la época lluviosa, estos se asocian con aumentos en el gasto en combustibles y servicios de hoteles, pero con reducciones en el consumo de servicios de salud y supermercados. Los efectos de ambos tipos de eventos extremos son transitorios en la mayoría de las categorías. |
| Keywords: | Consumer Spending; Extreme Weather Events; TWFE Model;Consumo eventos extremos, efectos fijos en dos vías, Eventos extremos, Efectos fijos en dos vías |
| JEL: | E21 C23 D12 Q54 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:apk:doctra:2506 |
| By: | Srivastava, S.K.; Kishore, P.; Birthal, P. S.; Singh, J.; Sethi, R. R. |
| Abstract: | Irrigation, in conjunction with high-yielding seeds and agro-chemicals, has been a crucial factor in the intensification of Indian agriculture, contributing to improvements in productivity, farmers’ incomes, and food security. The net irrigated area increased from 25 million hectares in 1960-61 to 79 million hectares in 2023-24, representing an increase from 19% to 56% of the net sown area. However, over three-fourths of the increase in irrigated area occurred due to groundwater extraction, the share of which in net irrigated area doubled from 30% to 60%. Concurrently, a transition occurred in energy sources for groundwater extraction devices (GEDs), from diesel to electricity. The number of electric-operated GEDs increased almost four-fold from 4.7 million in 1986-87 to 16.5 million in 2017-19. |
| Keywords: | Crop Production/Industries, Productivity Analysis, Sustainability |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpb:358874 |
| By: | Tsiboe, Francis; Steinbach, Sandro |
| Abstract: | This white paper reviews the Federal Crop Insurance Corporation’s (FCIC) deferral of interest on unpaid premiums after natural disasters. Since the 2012 shift to an August 15 billing date, FCIC has routinely granted 60-day waivers during severe weather or national emergencies, providing producers liquidity but delaying federal receipts. Between 2019 and 2023, over $18 billion in premiums were deferred, representing $510 million in implicit subsidies. The analysis examines effects on actuarial soundness, budget scoring, and moral hazard, and outlines policy options to balance producer relief with fiscal discipline amid rising weather risks. |
| Keywords: | Agricultural and Food Policy, Agricultural Finance, Risk and Uncertainty |
| URL: | https://d.repec.org/n?u=RePEc:ags:arpcwp:364685 |
| By: | Luy, Jörg; Faletar, Ivica; Banse, Martin; von Meyer-Höfer, Marie |
| Keywords: | Environmental Economics and Policy |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gewi24:364723 |
| By: | Florian Allroggen; R. John Hansman; Christopher R. Knittel; Jing Li; Xibo Wan; Juju Wang |
| Abstract: | Air transportation supports economic growth and global connectivity but imposes localized environmental costs, particularly through aircraft noise. We estimate the causal effect of aviation noise on housing prices using quasi-experimental variation from the Federal Aviation Administration's rollout of performance-based navigation (PBN) procedures and runway reconfigurations at three major U.S. airports. Combining high-resolution flight trajectory data with geocoded housing transactions, we apply a difference-in-differences hedonic framework to identify changes in exposure unanticipated by residents. A one-decibel increase in annual day-night average sound level reduces house prices by 0.6 to 1.0 percent. Among alternative noise metrics, average exposure explains property value impacts most strongly. Willingness to pay for quieter conditions varies systematically with income and race, indicating that aircraft noise externalities have meaningful distributional consequences. Our results highlight the need to incorporate localized environmental costs into aviation and urban land-use policy. |
| JEL: | L51 L62 L85 Q53 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34431 |
| By: | Christian, Paul J.; Dunsch, Felipe; Heirman, Jonas; Kelley, Erin; Kondylis, Florence; Lane, Gregory; Waidler, Jennifer; Adusumalli, Nidhila; Batmunkh, Odbayar; Malhotra, Kriti |
| Abstract: | As increasingly frequent extreme weather events disrupt lives, institutions are turning to early-warning systems and advance preparation to accelerate aid delivery. A randomized controlled trial in Bangladesh and Nepal tested whether providing cash within days of a flood leads to greater benefits than delivering the same assistance months later—or if it simply shifts the timing of benefits without improving overall welfare. The results suggest that timely cash assistance leads to overall gains in food security and psychosocial well-being. This evidence supports efforts to forecast crises and release disaster relief quickly. |
| Date: | 2025–10–29 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11244 |
| By: | Avirup Chakraborty |
| Abstract: | The European Union Emissions Trading System (EU ETS), the worlds largest cap-and-trade carbon market, is central to EU climate policy. This study analyzes its efficiency, price behavior, and market structure from 2010 to 2020. Using an AR-GARCH framework, we find pronounced price clustering and short-term return predictability, with 60.05 percent directional accuracy and a 70.78 percent hit rate within forecast intervals. Network analysis of inter-country transactions shows a concentrated structure dominated by a few registries that control most high-value flows. Country-specific log-log regressions of price on traded quantity reveal heterogeneous and sometimes positive elasticities exceeding unity, implying that trading volumes often rise with prices. These results point to persistent inefficiencies in the EU ETS, including partial predictability, asymmetric market power, and unconventional price-volume relationships, suggesting that while the system contributes to decarbonization, its trading dynamics and price formation remain imperfect. |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2510.22341 |
| By: | Nikzad, Mojtaba; Gerharz, Eva |
| Keywords: | Crop Production/Industries |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gewi24:364752 |
| By: | Kandpal, Ankita; Birthal, Pratap S.; Mishra, Shruti |
| Abstract: | Research in and for agriculture has significant potential to address the current and future challenges to transforming agri-food production systems as more productive, efficient, and sustainable. In India, most research in agriculture and allied activities is carried out in public-sector institutions. Agricultural R&D, however, remains underinvested. In 2020-21, the country spent about 0.54% of agricultural gross domestic product on research and 0.11% on extension, much less than their corresponding global levels. Nevertheless, there is a strong justification for more investment in agricultural R&D. Every rupee spent on research pays back Rs 13.85, and on extension, Rs 7.40. Hence, by 2030, investment in R&D should be raised to at least one percent of the agricultural gross domestic product. Importantly, it should be accompanied by revamping of the research agenda, considering the likely demand for different food and non-food commodities, the current and future challenges, and opportunities. This study suggests more resources for research on livestock, fisheries, natural resource management, and climate adaptation and mitigation, and bridging the regional R&D gaps. The past is the guide to the future. Investment in R&D made today will decide the future course of agricultural development. The evidence presented in this study are of significant importance to research administrators and policymakers in taking informed decisions regarding investment in agricultural R&D and its prioritization for the smooth transformation of agri-food systems. |
| Keywords: | Research and Development/Tech Change/Emerging Technologies, Research Methods/Statistical Methods |
| Date: | 2024–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpp:344995 |
| By: | Natalia Fabra (CEMFI, Centro de Estudios Monetarios y Financieros); Gerard Llobet (CEMFI, Centro de Estudios Monetarios y Financieros) |
| Abstract: | This paper examines the limitations of spot markets in providing adequate investment incentives to support zero-carbon investments in electricity markets. In contrast, properly designed long-term contracts have the potential to mitigate price volatility and facilitate the funding of the investments. A theoretical model is developed to analyze contract design under conditions of moral hazard and adverse selection, emphasizing the trade-offs that arise when exposing firms to price and quantity risk. The findings inform optimal contract design for nuclear and renewable energy projects, offering policy recommendations to enhance investment incentives while minimizing productive inefficiencies and excessive rents. |
| Keywords: | Contract design, adverse selection, moral hazard, risk aversion, renewable energies, nuclear power plants. |
| JEL: | L13 L94 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:cmf:wpaper:wp2025_2521 |
| By: | Bayari, Celal |
| Abstract: | The Belt and Road Initiative (the BRI) is the current developmental stage of the Chinese capitalist model, and its progress through different nations depend on the governance that China established across its own vast geography over a long period of time. The levels of the BRI international activity resemble a rapid flood rather than a slow flow, due to the availability of the Chinese state finances and private capital funds, since the start of the Deng modernisations, and China’s entry into the WTO. The growth of the Chinese capitalism presented an interesting contrast to the national economic models North America, Europe, and Asia. There has been much interest on the interplay between the nature of the Chinese capitalism, the existing institutions, and the institutions that emerged subsequently. Overall, there exists a specific understanding of the growth in China in terms of the stronger and weaker institutions, that the paper discusses. China’s own development, the BRI activities, and the uneven success of the Sustainable Development Goals across the BRI membership also form an interesting debate. Further, China’s WTO entry, the WTO framework, and the subsequent BRI agreements also significant contrasts that the paper highlights. |
| Keywords: | China, Belt and Road Initiative, Institutional Economics, Soft Law, SDGs, Pollution Halo, Pollution Haven |
| JEL: | A11 A12 A14 B3 B31 E2 E22 E62 E65 F1 F13 F14 F15 F18 F21 F23 F42 F43 F55 F62 F63 F64 G2 G28 I1 I31 K2 K23 K32 K33 L1 L12 L16 L22 L41 L51 L91 L98 M16 M21 N1 N10 N15 N17 N20 N25 N27 N30 N35 N37 N70 N75 N77 N90 N95 N97 O11 O14 O18 O19 O38 O43 O53 O55 O56 P1 P12 P14 P26 P33 P45 P48 P51 P52 Q01 Q02 Q2 Q27 Q32 Q37 Q43 Q52 Q53 Q54 Q56 Q58 R38 R41 R53 R58 Z1 Z13 |
| Date: | 2025–08–08 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:125677 |
| By: | Mary Svenstrup (Center for Global Development) |
| Abstract: | The IMF has an important role to play in climate-related macro-financial issues, especially at a time of great uncertainty for global climate action. As the only multilateral institution responsible for promoting global macroeconomic and financial stability, the IMF needs a better approach to help countries, particularly emerging market and developing countries (EMDCs), get their economic frameworks right—as a necessary foundation to mobilize public and private investments including for climate action. This is the key area where the IMF can be bold to help advance climate action in the current environment. In parallel, the IMF should streamline the remainder of its climate work to what is macro-critical and aligned with its mandate. As a part of the global constellation of actors working to solve climate change, we need the IMF to do its job well—not all jobs. This paper recommends that the IMF (1) dramatically strengthen lending programs by enabling countries to more durably implement ambitious reforms, escape debt overhang that inhibits growth, and ultimately invest to make their economies cleaner and more resilient; (2) rethink the Resilience and Sustainability Trust (RST), which has thus far had incremental impact, to support a narrower set of ambitious macro-critical reforms aimed at catalyzing investment and supporting stronger programs; (3) buy political space and leverage IMF expertise by strictly limiting coverage of climate issues in surveillance to where it is macro-critical and aligned with the IMF’s mandate; and (4) further enhance partnership with the World Bank, being clear where more collaboration is needed and where the institutions can divide and conquer. |
| Date: | 2025–10–20 |
| URL: | https://d.repec.org/n?u=RePEc:cgd:ppaper:366 |
| By: | Paul J. Christian; Felipe A. Dunsch; Jonas Heirman; Erin M. Kelley; Florence Kondylis; Gregory Lane; Jennifer Waidler; Nidhila Adusumalli; Odbayar Batmunkh; Kriti Malhotra |
| Abstract: | As increasingly frequent extreme weather events disrupt lives, institutions are turning to early-warning systems and advance preparation to accelerate aid delivery. We present evidence from a randomized controlled trial in Bangladesh and Nepal testing whether providing cash within days of a flood leads to greater benefits than delivering the same assistance months later—or if it simply shifts the timing of benefits without improving overall welfare. Results suggest that timely cash assistance leads to overall gains in food security and psychosocial well-being. This evidence supports efforts to forecast crises and release disaster relief quickly. |
| JEL: | O10 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34414 |
| By: | Bruno Moura; Michael G Pollitt |
| Keywords: | Solar PV, spatial-neighbour effect, energy policy |
| JEL: | L94 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:enp:wpaper:eprg2523 |
| By: | Akbari, Mohammad Sohail; Rasa, Mohammad Mirwais |
| Abstract: | Afghanistan urgently requires substantial investment to generate employment, stimulate economic growth, and achieve economic self-reliance. However, persistent structural and political challenges have created a hostile environment for investors. Since 2015, the country has faced significant capital flight as existing investors withdraw and potential investors remain hesitant due to insecurity, widespread corruption, fragile economic infrastructure, and weak regulatory frameworks (Safi & Sharma, 2019). These barriers have undermined economic confidence and hindered the inflow of both domestic and foreign capital. This study examines the primary challenges encountered by domestic investors in Afghanistan. It provides actionable recommendations to strengthen economic governance, enhance institutional capacity, and promote an investment climate conducive to sustainable development. |
| Keywords: | Domestic investment, Capital flight, Economic challenges, Economic infrastructure, Investment climate |
| JEL: | H11 H13 K1 K11 |
| Date: | 2025–05–12 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126242 |
| By: | Johanna Arlinghaus; Théo Konc; Linus Mattauch; Stephan Sommer |
| Abstract: | Do citizens support policy instruments because they appreciate their effects or because they are convinced by their objectives? We administered a large-scale representative survey with randomised video treatments to test how different policy frames - time savings, health and environment - affect citizens' attitudes towards urban tolls in two large European metropolitan areas, Berlin-Brandenburg and Paris-Ile de France. Presenting urban tolls as a solution to air pollution increases support by up to 11.4 percentage points, presenting them as a climate change or congestion relief measure increases support by 7.1 and 6.5 percentage points, respectively. We demonstrate via a causal mediation analysis that the observed changes in policy support are mainly framing effects; changes in beliefs about policy effects play a secondary role. Thus, we uncover a new mechanism shaping public opinion on economic policies: the stated objectives of an identical policy design can shape citizens' views in distinct ways. |
| Keywords: | political |
| Date: | 2025–10–20 |
| URL: | https://d.repec.org/n?u=RePEc:bdp:dpaper:0077 |
| By: | Nichelatti, Enrico; Oppel, Annalena; Tagem, Abrams |
| Abstract: | This paper examines how floods impact inequality in South Africa by linking georeferenced flood data with cross-sectional household and individual data from the National Income Dynamics Study survey. Using a difference-in-differences estimation, we assess the causal effects of five major flood events between 2008 and 2017 on individual welfare across multiple dimensions: labour income, income with social benefits, post-fiscal income, consumption, and material deprivation. Our findings reveal that floods significantly reduce all income measures for individuals within 0.5 km of flood zones, with substantial spill-over effects extending to 1 km. While South Africa's extensive social grant system provides some cushioning, it is insufficiently shockresponsive to prevent welfare declines. Post-fiscal income falls as coverage gaps exclude informal workers, grant values erode due to post-disaster inflation, and indirect taxes continue to burden affected individuals. Floods also reduce individual consumption and increase material deprivation by destroying assets, disrupting markets, and raising the cost of essentials. These effects are particularly severe for low-income individuals in informal settlements, who face disproportionate exposure, limited recovery capacity, and prolonged deprivation. Our results demonstrate that floods are not merely environmental shocks but powerful drivers of inequality that interact with South Africa's pre-existing spatial, racial, and economic disparities. The findings underscore the need for shock-responsive social protection, resilient infrastructure investment, and equitable climate adaptation policies to prevent floods from further entrenching structural inequality. |
| Keywords: | inequality; climate change; floods; South Africa; individual welfare |
| JEL: | C21 H53 I32 O55 O51 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:130047 |
| By: | Kumara, Kiran T. M.; Birthal, Pratap Singh |
| Keywords: | Agricultural and Food Policy, Crop Production/Industries, Food Security and Poverty, Sustainability |
| Date: | 2024–11–04 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpb:349213 |
| By: | Kishore, Prabhat; Birthal, Pratap S.; Srivastava, Shivendra Kumar |
| Abstract: | Propelled by advancements in agricultural technology, irrigation expansion, infrastructure development, and incentives such as subsidies on inputs and guaranteed purchase of produce at government-determined prices, India’s food system has evolved, transforming the country from a state of food deficit to food surplus. However, this transformation has come at a cost. The incentive structure that contributed to this transformation has now become unsupportive of agricultural sustainability, damaging natural resources, agrobiodiversity, and the environment. This paradoxical situation necessitates a critical examination of current policies and practices. In this study, we evaluated the impact of Minimum Support Prices (MSP), one of the key components of agricultural policy, on crop yields, market prices, farmers’ income, and groundwater levels. The findings demonstrate that MSP-based procurement, by mitigating market uncertainties and price risks, and incentivizing production, serves as an income safety net for farming communities. |
| Keywords: | Food Security and Poverty, Sustainability |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpp:358869 |
| By: | Segoin, Daniel; Menegat, Martina; O'Connell, Marguerite |
| Abstract: | On 9 April 2024, the European Court of Human Rights (ECtHR) delivered a landmark ruling in Verein KlimaSeniorinnen Schweiz and Others v. Switzerland. The ruling was handed down together with two further rulings in Duarte Agostinho and others v. Portugal and others, and in Carême v. France. The ruling marked the first time the ECtHR held that insufficient climate action by a state constitutes a violation of human rights under the European Convention on Human Rights (ECHR). While primarily having an impact on Switzerland as a defending State, the ruling is expected to indirectly affect the legal order of the European Union and its institutions. Moreover, the findings of the ECtHR have been reinforced by recent advisory opinions of other international courts and tribunals, in particular the opinion of the International Court of Justice, handed down on 23 July 2025. This paper first recalls the key facts and outcomes from each of the three ECtHR climate rulings and explores the key findings in greater detail. Second, the paper outlines the climate rulings of other international courts and tribunals. Thereafter, the paper explains the relevance of the KlimaSeniorinnen ruling for the Union and its institutions. First, as a matter of substance, the paper explains how the ruling carries lessons for the ambition and implementation of the climate policies of the Union and its Member States. Second, the paper goes on to explore the procedural avenues for litigants to bring an action before the Court of Justice of the European Union (CJEU), to challenge Union policies on the basis of the ECtHR’s ruling. The paper then outlines how the ruling may be relevant to the ECB, and for the national central banks (NCBs) and national competent authorities (NCAs) within the Eurosystem and Single Supervisory Mechanism. Finally, the paper explores how the ruling may be relevant to the financial sector, insofar as it increases the risk of litigation, and risks related to the process of adjustment towards a low-carbon economy (transition risk). |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecblwp:202523 |
| By: | Yim, Hyungsun; Dall’erba, Sandy |
| Abstract: | In the United States, like in other countries, the agrifood supply chain faces challenges from a growing population and less predictable weather conditions. Extreme weather events decrease agricultural yield, which leads to changes in the domestic trade of agricultural products and, in turn, in the manufacturing of food products. This paper investigates the extent to which food manufacturing in any single state is dependent on drought events affecting locally sourced inputs and/or imported inputs. For this purpose, we estimate the food manufacturing production function in a two-stage process. In the first stage, we assess the role of drought on trade in animals and fish (SCTG 01), cereal grains (SCTG 02), and all other crop products (SCTG 03). In the second stage, we estimate a nested production function for processed food at the state level. Our findings indicate that the agrifood supply chain always adapt to a weather-induced shock on inputs but, depending on the location of the latter, it leads to either an increase or a decrease in a state’s food manufacturing production. We end with simulations showing how drought events affect food manufacturing production in California and Texas, the largest players in the national agrifood network. |
| Keywords: | Demand and Price Analysis |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ags:assa25:359270 |
| By: | de Bromhead, Alan; Lyons, Ronan C.; Ohler, Johann |
| Abstract: | Poor housing conditions, and the negative effects of Household Air Pollution (HAP) in particular, remain one of the most pressing global public health challenges. While the association between poor housing and health has a long history, evidence of a direct link is lacking. In this paper, we examine a rare example of a public housing intervention in rural areas, namely the large-scale provision of high-quality housing in Ireland in the late 19th and early 20th centuries. We exploit a novel dataset of deaths-by-disease and deaths-by-age-and-sex over the period 1871–1919, to test the impact of the intervention on mortality. Our difference-in difference estimates indicate that improved housing conditions reduced mortality by as much as 1 death per 1000. This effect is driven by reductions in deaths from respiratory diseases. We propose a likely mechanism that is consistent with the pattern of results we observe: a reduction in Household Air Pollution through improved housing quality and better ventilation. A cost-benefit analysis reveals that the scheme was a highly cost-effective intervention. |
| Keywords: | Ireland; Labourers Act; household air pollution; health transition; social housing; infectious disease |
| JEL: | N33 N93 Q53 O18 J10 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:129884 |
| By: | Moura, B.; Pollitt, M. G. |
| Abstract: | This article investigates spatial-neighbour effects in the deployment of small-scale solar photovoltaic (PV) systems, examining whether the installation rate in a given area is affected by the quantity of nearby solar PV systems. We study 1.4 million solar PV systems in England and Wales, analysing installations over the period 2010 – 2024. The results from 2010–2015 reveal that an additional solar PV system in a local authority is associated with an additional 0.128 installations 3 months later, suggesting a positive role of peer effects and observational learning. In contrast, from 2016–2024, spatial-neighbour effects are instead found to be negative, indicating saturation amongst the households likely to adopt solar PV. We further show that, by contrast, heat pumps do not exhibit any spatial-neighbour effects and that the collective buying scheme Solar Together did not appear to increase installations in the period 2015–2020. |
| Keywords: | Solar PV, Spatial-Neighbour Effect, Energy Policy |
| JEL: | L94 |
| Date: | 2025–10–15 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camdae:2566 |
| By: | Jonathan Colmer; Eva Lyubich; John Voorheis |
| Abstract: | The transition to clean energy represents a fundamental and important shift in economic activity. We present new facts about workers in clean and legacy energy sectors between 2005 and 2019 using linked, administrative employer-employee data for all W-2 workers in the United States. We show that both clean and legacy energy establishments hire a disproportionate share of non-Hispanic White and male workers compared to the working population, that workers rarely move from legacy to clean firms, and that, conditional on education, workers do not earn more in clean firms than in legacy firms. The occupational categories of jobs at clean firms differ notably from occupations at legacy firms and, on average, tend to be performed by workers with higher levels of education. Regional overlap in employment opportunities is not sufficient to facilitate worker transitions from legacy to clean firms. Substantially lower earnings outside of the energy sector combined with low mobility between legacy and clean firms suggests that the costs of the clean transition on workers in legacy fossil fuel sectors may be substantial. At the same time workers moving into clean activities from outside of the energy sector experience significant increases in earnings and greater job stability, suggesting that clean jobs are "good jobs" for those who can access them. |
| Keywords: | Clean energy transition, earnings, employment, transitional costs, mobility |
| Date: | 2025–10–09 |
| URL: | https://d.repec.org/n?u=RePEc:cep:cepdps:dp2127 |
| By: | Michel Alexandre; Angela Modica Scala; Alessandro Caiani; Gilberto Tadeu Lima |
| Abstract: | In this paper, we propose a methodology for computing the impact of climate transition risks on the financial system. The novelty of our analytical approach is that it accounts for indirect impacts stemming from inter-sectoral linkages (on the real sector side) and interbank loans (on the financial sector side). Our proposed methodology is carried out in three sequential steps: physical capital stranding due to a shock on a carbon-intensive economic sector (the mining fossil sector), potential direct losses experienced by the financial sector caused by its loan exposures to the real sector, and indirect potential losses due to interbank exposures. Applying this methodology to a rich Brazilian financial dataset alongside with reputable international input-output databases, we show that (i) the sectors with the highest rates of stranding physical capital vary with the model used to compute such stranding, (ii) the distribution of the individual direct and indirect losses are well-fitted by a power law, and (iii) the aggregate potential loss, both direct and indirect, declined during the period assessed in this study (2015-2022). |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:bcb:wpaper:633 |
| By: | Céline del Bucchia (Audencia Business School); Arnaud Stimec (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université); Anastasia Dereppe (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université); Benoit Marienval (LEMNA - Laboratoire d'économie et de management de Nantes Atlantique - Nantes Univ - IAE Nantes - Nantes Université - Institut d'Administration des Entreprises - Nantes - Nantes Université - pôle Sociétés - Nantes Univ - Nantes Université) |
| Abstract: | Purpose Recent voices have called for the need to reconsider the myth of male power based on a one-dimensional view of a dominant patriarchy in entrepreneurship. In a search for alternatives to hegemonic masculinities, this paper explores a specific context - that of radical ecological and social transition - to identify how entrepreneuring in this specific social environment questions and shapes entrepreneurial masculinities. Design/methodology/approach We engage with constructivist grounded theory to analyse 17 life story interviews of French entrepreneurs, complemented by 6 focused follow-up interviews and 2 focus groups of women to give a broader and cultural understanding of entrepreneurial masculinities. Findings The paper makes four important contributions to the literature on gender and entrepreneurship. First, it enriches the spectrum of entrepreneurial masculinities with a non-hegemonic type of masculinity, namely, caring Entrepreneurial masculinity (EM). Second, it proposes an alternative model of hybrid hegemonic masculinity by showing that the "hero" posture in entrepreneurship is not necessarily that of a winner but can also serve a mission for the common good. Third, it introduces the concept of ecological EM by bridging two distinct areas of the literature related to our data. Finally, it underscores the strong influence of women in entrepreneurs' social environment by their role in engaging change in entrepreneurial masculinities. We show how a specific social environment can partially challenge hegemonic entrepreneurial masculinities. The paper introduces ecological masculinities as an alternative framework. |
| Abstract: | Objectif Des voix récentes ont appelé à reconsidérer le mythe du pouvoir masculin fondé sur une vision unidimensionnelle d'un patriarcat dominant dans l'entrepreneuriat. À la recherche d'alternatives aux masculinités hégémoniques, cet article explore un contexte spécifique, celui de la transition écologique et sociale radicale, afin d'identifier comment l'entrepreneuriat dans cet environnement social particulier remet en question et façonne les masculinités entrepreneuriales. Conception/méthodologie/approche Nous utilisons la théorie constructiviste fondée sur des données empiriques pour analyser 17 entretiens sur le parcours de vie d'entrepreneurs français, complétés par 6 entretiens de suivi ciblés et 2 groupes de discussion composés de femmes afin d'offrir une compréhension plus large et culturelle des masculinités entrepreneuriales. Résultats L'article apporte quatre contributions importantes à la littérature sur le genre et l'entrepreneuriat. Premièrement, il enrichit le spectre des masculinités entrepreneuriales d'un type de masculinité non hégémonique, à savoir la masculinité entrepreneuriale bienveillante (EM). Deuxièmement, il propose un modèle alternatif de masculinité hégémonique hybride en montrant que la posture de « héros » dans l'entrepreneuriat n'est pas nécessairement celle d'un gagnant, mais peut également servir une mission pour le bien commun. Troisièmement, il introduit le concept d'EM écologique en reliant deux domaines distincts de la littérature liés à nos données. Enfin, il souligne la forte influence des femmes dans l'environnement social des entrepreneurs par leur rôle dans le changement des masculinités entrepreneuriales. Nous montrons comment un environnement social spécifique peut remettre en question, en partie, les masculinités entrepreneuriales hégémoniques. L'article présente les masculinités écologiques comme un cadre alternatif. |
| Keywords: | Sustainable entrepreneurship, Socio-ecological transition, Entrepreneurial masculinities, Cultural change and leadership, Hegemonic masculinities, Constructivist grounded theory, Caring masculinities, Ecological masculinities, Masculinités hégémoniques, Entrepreneuriat durable, Transition socio-écologique, Masculinités entrepreneuriales, Changement culturel et leadership, Théorie ancrée constructiviste, Masculinités du care, Masculinités écologiques |
| Date: | 2025–08–12 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05336916 |
| By: | Jason R. Bailey; W. Brent Lindquist; Svetlozar T. Rachev |
| Abstract: | We evaluate the contributions of ten intrinsic and extrinsic factors, including ESG (environmental, social, and governance) factors readily available from website data to individual home sale prices using a P-spline generalized additive model (GAM). We identify the relative significance of each factor by evaluating the change in adjusted R^2 value resulting from its removal from the model. We combine this with information from correlation matrices to identify the added predictive value of a factor. Based on data from 2022 through 2024 for three major U.S. cities, the GAM consistently achieved higher adjusted R^2 values across all cities (compared to a benchmark generalized linear model) and identified all factors as statistically significant at the 0.5% level. The tests revealed that living area and location (latitude, longitude) were the most significant factors; each independently adds predictive value. The ESG-related factors exhibited limited significance; two of them each adding independent predictive value. The elderly/disabled accessibility factor was much more significant in one retirement-oriented city. In all cities, the accessibility factor showed moderate correlation with one intrinsic factor. Despite the granularity of the ESG data, this study also represents a pivotal step toward integrating sustainability-related factors into predictive models for real estate valuation. |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2511.02120 |
| By: | Hamidou Diallo (World Bank); Anne-Sophie Robilliard (IRD, LEDa-DIAL (IRD, CNRS, and PSL Research University), France) |
| Abstract: | Using 37 years of longitudinal data on over 60, 000 children, we examine how rainfall affects child survival in rural Senegal. Two contrasting effects are likely to be at play: a beneficial effect from increased rainfall stemming from improved income and nutrition, and a detrimental effect resulting from a more adverse disease environment. To assess the effects of rainfall on child survival rates, we use highresolution rainfall data matched with discrete-time event data at the person-month level. Our analysis uses two distinct measures of rainfall deviations: one representing rainfall deviations during the previous rainy season, and another for current rainfall deviations. Additionally, we explore the heterogeneity of the impact over different groups. Next, we make use of causes of death data to try and support the interpretation of our main results and, finally, present some tentative simulation results. Our results confirm that the rates of child mortality are influenced by fluctuations in income and nutrition related to rainfall, as well as by the seasonality of the burden of disease. This burden escalates notably during the rainy season, compounded by food scarcity in lean periods. The severity of this stress amplifies when rainfall in the preceding rainy season has been insufficient. We also present simulations of child mortality under different rainfall scenarios, providing a policyrelevant perspective on how future climate variability may affect child survival in semi-arid, rain-fed agricultural settings. |
| Keywords: | Rainfall, Child mortality, Gender, HDSS, Rural Senegal |
| JEL: | I15 J16 Q54 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:dia:wpaper:dt202508 |
| By: | Raimondo Pala |
| Abstract: | This paper addresses the challenges of giving a causal interpretation to vector autoregressions (VARs). I show that under independence assumptions VARs can identify average treatment effects, average causal responses, or a mix of the two, depending on the distribution of the policy. But what about situations in which the economist cannot rely on independence assumptions? I propose an alternative method, defined as control-VAR, which uses control variables to estimate causal effects. Control-VAR can estimate average treatment effects on the treated for dummy policies or average causal responses over time for continuous policies. The advantages of control-based approaches are demonstrated by examining the impact of natural disasters on the US economy, using Germany as a control. Contrary to previous literature, the results indicate that natural disasters have a negative economic impact without any cyclical positive effect. These findings suggest that control-VARs provide a viable alternative to strict independence assumptions, offering more credible causal estimates and significant implications for policy design in response to natural disasters. |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2510.23762 |
| By: | Kishore, Prabhat; Roy, Devesh; Birthal, Pratap S.; Srivastava, Shivendra Kumar |
| Keywords: | Crop Production/Industries, Sustainability |
| Date: | 2024–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpp:345044 |
| By: | Safiullin, Marat; Sharapov, Azat; Elshin, Leonid; Abdrakhmanova, Diliara; Mikhalevich, Polina |
| Abstract: | Целью исследования является разработка методического инструментария идентификации критического импорта региона в разрезе ТНВЭД и построение на этой основе экономико-математических моделей, оценивающих его влияние на перспективы и устойчивость промышленного развития субъектов РФ. Основными результатами исследования являются идентифицированные критически значимые для промышленного сектора товарные номенклатуры, импортируемые из-за рубежа и формирующие основные угрозы устойчивому развитию экономики региона. Сформированный реестр критического импорта для Республики Татарстан в разрезе ТНВЭД позволил, опираясь на методы экономико-математического моделирования, определить сценарии промышленного развития субъекта с учетом возможных ограничений в поставках импорта. Установлено, что ограничения критического импорта в регион в диапазоне от 5% до 50% предопределяет риски замедления ИПП в Республике Татарстан от 1, 1 до 10, 9% соответственно в условиях отсутствия значимых бюджетных импульсов и адаптивных программ импортозамещения. The purpose of the study is to develop methodological tools for identifying critical imports of the region in the context of the FEA and to build on this basis economic and mathematical models assessing its impact on the prospects and sustainability of industrial development of the subjects of the Russian Federation. The main results of the study are the identified commodity nomenclatures that are critically important for the industrial sector, imported from abroad and form the main threats to the sustainable development of the region's economy. The formed register of critical imports for the Republic of Tatarstan in the context of the FEA made it possible, based on the methods of economic and mathematical modeling, to determine scenarios for the industrial development of the subject, taking into account possible restrictions in the supply of imports. It has been established that restrictions on critical imports to the region in the range from 5% to 50% predetermines the risks of a slowdown in the IPR in the Republic of Tatarstan from 1.1% to 10.9%, respectively, in the absence of significant budgetary impulses and adaptive import substitution programs. |
| Keywords: | импортозависимость; критический импорт; промышленное развитие; регион; санкционное давление; реконфигурация международных цепей поставок; трансформация внешних рынков; пространственный анализ панельных данных; моделирование макроэкономических связей import dependence; critical imports; industrial development; region; sanctions pressure; reconfiguration of international supply chains; transformation of foreign markets; spatial analysis of panel data; modeling of macroeconomic relations |
| JEL: | R10 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126672 |
| By: | Qiao Wang; Joseph George |
| Abstract: | Monitoring household water use in rapidly urbanizing regions is hampered by costly, time-intensive enumeration methods and surveys. We investigate whether publicly available imagery-satellite tiles, Google Street View (GSV) segmentation-and simple geospatial covariates (nightlight intensity, population density) can be utilized to predict household water consumption in Hubballi-Dharwad, India. We compare four approaches: survey features (benchmark), CNN embeddings (satellite, GSV, combined), and GSV semantic maps with auxiliary data. Under an ordinal classification framework, GSV segmentation plus remote-sensing covariates achieves 0.55 accuracy for water use, approaching survey-based models (0.59 accuracy). Error analysis shows high precision at extremes of the household water consumption distribution, but confusion among middle classes is due to overlapping visual proxies. We also compare and contrast our estimates for household water consumption to that of household subjective income. Our findings demonstrate that open-access imagery, coupled with minimal geospatial data, offers a promising alternative to obtaining reliable household water consumption estimates using surveys in urban analytics. |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2510.26957 |
| By: | DeAngeli, Emma (Resources for the Future); Livermore, Michael A. |
| Abstract: | In principle, there is a long-standing and broad bipartisan consensus in favor of robust ex-post evaluation of federal environmental policy. Proponents of ex-post evaluation note its many possible benefits—these include identifying (and eliminating) ineffective programs; improving the quality of ex-ante analysis; and facilitating regulatory experimentation. In reality, a number of political, institutional, and cultural barriers have blocked the emergence of any consistent practice of ex-post review. These barriers have persisted for decades, through administrations of both political parties and during periods of both united and divided government. They arise from consistent features of the administrative state, rather than the temporary politics of any particular moment. Overcoming them will likely require sustained reforms efforts.Based in part on a series of interviews with senior government officials with decades of experience in environmental policymaking, this report identifies a set of ten interrelated barriers that have inhibited the development of a robust practice of environmental policy evaluation at federal agencies. These barriers are partially the result of political dynamics, but they also arise from agency institutional constraints, incentives, and cultures. Our research identifies the following leading barriers to ex-post evaluation:Many agencies lack dedicated funding to carry out ex-post evaluation.Agencies have highly constrained agenda space, making it difficult to prioritize ex-post evaluation.Agencies face adverse political incentives to engage in self-scrutiny that may open them to political attacks.Although agency personnel often have essential domain knowledge, they may lack the expertise to carry out rigorous ex-post analyses.Agencies may lack (or believe they lack) legislative authority to carry out certain types of ex-post review.It is often not clear how agencies should integrate the results of ex-post evaluation into decisionmaking, given that major regulatory decisions are rare.The self-evaluations of agencies, even if carried out in good faith, may not be perceived as trustworthy by relevant stakeholders.Ex-post evaluation often raises difficult questions of causal inference that agencies may be ill-positioned to address.It is often difficult for agencies to collect the data needed to engage in ex-post evaluation.Many agencies have not developed a culture of evaluation.Given the identified barriers, we propose a suite of potential reforms for Congress to consider. These proposals are based on prior experience with ex-post review, analogous efforts within and outside the government, or suggestions that interviewees raised. We offer options at different levels of ambition, recognizing that enthusiasm to dedicate substantial congressional effort to the project of improving ex-post evaluation may vary. These levels of ambition can also be understood as scaling with time, so that more ambitious proposals, while perhaps unrealistic in the short term, may be more plausible over longer time horizons.At the lowest level of ambition, Congress could use the appropriations process to direct funds to environmental policy evaluation. So as not to interfere with agency operations, and to avoid the impression that policy evaluation necessarily comes at the expense of programmatic goals, such funds should be made as additions to agency budgets, rather than as reallocations of existing resources. Appropriations directed to ex-post review would, most obviously, address the barrier of a lack of dedicated funds. Such appropriations would also require agencies to prioritize, to at least some degree, ex-post evaluation, regardless of their limited agenda space. Additional funding would also facilitate the acquisition of expertise as needed.At a similar level of ambition, Congress could contemplate small-bore reforms that could ease the process of ex-post evaluation. For example, the Paperwork Reduction Act places procedural and substantive limits on agencies’ ability to collect data—a core prerequisite of ex-post evaluation. Given limited agency resources and competing priorities, these burdens act as additional roadblocks that can sap momentum from evaluation efforts. Targeted reforms to the Paperwork Reduction Act could reduce these burdens while still ensuring that the core purposes of the Act are protected. Efforts to identify other similar facilitating reforms may be warranted.At a higher level of ambition, Congress could create legal requirements for agencies to engage in policy evaluation, either of specific programs or more broadly. The most extensive ex-post analysis of environmental policy making that has been carried out to date was prompted by section 812 of the Clean Air Act Amendments of 1990. In response to this congressional directive, the Environmental Protection Agency developed considerable expertise and dedicated significant resources to estimating the costs and benefits of air quality policies. Similar mandates could be effective, especially if coupled with additional funding and facilitating reforms. Legislative mandates would require agencies to devote at least some of their finite agenda space to ex-post evaluation, and, based on prior experience, would likely result in agencies accessing the expertise needed to carry out these evaluations in a rigorous fashion. Mandates would also clarify that agencies have authority to carry out ex-post evaluations.A further measure at a similar level of ambition would be the creation of a specialized group of policy evaluation experts, within the Executive Office of the President, tasked with coordinating and facilitating ex-post evaluation efforts. Ideally, such a Policy Evaluation Group (PEG) would operate across a wide range of agencies (not only those with environmental portfolios), would be structured to be as politically neutral as possible, and would serve a supporting, rather than overseeing, role. The primary function of the PEG would be to provide human resources and expertise for agencies that are interested in engaging in policy evaluations. In this way, it would address issues of funding and expertise. A reform along these lines could also help increase the perceived trustworthiness of ex-post evaluations, given that outside experts would be part of the team that designed and implemented the analyses.A more ambitious step that Congress could take would be the creation of a National Institute for Policy Evaluation and Review (NIPER), modeled on other scientific funding institutes. This new agency would fund collaborations between academic institutions and government agencies to engage in large-scale policy evaluations designed to identify and address key areas of uncertainty across a range of policymaking domains. Environmental policies would be one of several portfolios that could be overseen by a funding agency of this kind, which could also support research in areas such as education and criminal justice. A NIPER-like entity would have considerable potential to address most of the barriers to ex-post evaluation.Finally, Congress could contemplate deeper statutory reforms designed to encourage agencies to integrate the results from ex-post evaluations into regulatory decisionmaking. Ex-post evaluations are only useful if they provide information that serves as an input into agency decisionmaking. However, the laborious rulemaking process, which includes litigation and the attendant risk of judicial invalidation of agency decisions, means that agencies are not well-poised to update rules based on new information. Recent moves by the US Supreme Court to reduce agency discretion has further constrained the ability of agencies to act on the information from ex-post evaluations. Congress may wish to contemplate legislation to ensure that the process of judicial review does not interfere unduly with flexible and responsive agency decisionmaking.Reforms of some significant ambition are likely needed to address barriers that, for decades, have inhibited ex-post evaluation. But such reforms require considerable study and coalition building before they would become politically feasible. For this reason, we recommend that Congress begin by creating a Commission on Policy Evaluation, modeled on the successful Commission on Evidence-Based Policy Making. This new Commission would be charged with studying policy evaluation across the federal government, examining state and comparative analogies, and consulting with experts to generate a set of concrete recommendations for additional congressional action. The Commission would help generate the knowledge base necessary to support well-informed congressional action and could also act as a forum for bipartisan coalition building. |
| Date: | 2025–11–03 |
| URL: | https://d.repec.org/n?u=RePEc:rff:dpaper:dp-25-25 |
| By: | Raimi, Daniel (Resources for the Future); Whitlock, Zach (Resources for the Future) |
| Abstract: | Energy development often provides substantial economic benefits as well as changes to environmental and health conditions for host communities. In this analysis, we seek to understand one aspect of energy development with important short- and long-term implications: how state governments collect and use oil and gas revenues. We focus on the top US oil- and gas-producing states: New Mexico, Pennsylvania, and Texas, which offer three distinct models for collecting and using revenue to manage current and future fiscal health. We find that New Mexico collects the largest share of revenues among the three states (roughly 20 percent of production value in 2023) and invests roughly half in long-term savings funds that will support education and other government services in perpetuity. Texas collects roughly 10 percent of production value and invests roughly one-fifth in long-term savings earmarked for statewide education, along with some investments in short-term savings. Pennsylvania collects just 3 percent and saves little to none for the future. Although New Mexico’s approach robustly supports statewide fiscal health, none of these states have policies to protect the finances of the local governments in host communities (specifically, counties, municipalities, and special districts), which may face significant fiscal risk from short-term booms and busts and longer-term risks from an energy transition. |
| Date: | 2025–11–03 |
| URL: | https://d.repec.org/n?u=RePEc:rff:report:rp-25-17 |
| By: | Yongquan Cao; Wei Jiang; Mr. Waikei Raphael Lam; Neng Wang |
| Abstract: | This paper provides a parsimonious yet tractable approach to evaluating maximum sustainable debt across countries and over time within the p-theory framework developed by Jiang et al. (2024). By incorporating tax distortions, asset-pricing components (risk-free rates, convenience yields, and jump-risk premia), and sovereign default risks into the model, we calibrate it for a large sample of over 170 countries. Our illustrative findings show that while current debt levels in many economies remain within maximum sustainable debt levels, debt burdens in many emerging markets and low-income countries are near their respective sustainable levels. In contrast, a few countries that are in—or at high risk of—debt distress have debt levels exceeding their sustainable thresholds. The analysis highlights how sustainable debt estimates evolve over time in response to shifts in financial conditions and macro-fiscal fundamentals. These estimates are particularly sensitive to key parameters—most notably when interest-growth differentials are narrow. |
| Keywords: | Debt limit; debt carrying capacity; convenience yields; risk premium; asset pricing; maximum sustainable debt |
| Date: | 2025–10–31 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2025/223 |
| By: | Sanderson, Kim; Steinbach, Sandro; Tyack, Nicholas |
| Abstract: | The PEAce project represents a collaborative effort to explore the evolving landscape of high-protein pea processing in Canada, with a particular focus on the intersection of plant breeding, market demand, and processor priorities. This report presents findings from a comprehensive series of interviews and surveys conducted with Canadian pea processors, aiming to capture their perspectives on current challenges, innovation trends, and future opportunities in the sector. The research investigates key themes such as protein content and functionality, the potential of gene editing technologies, climate-smart certification, and the broader market environment shaping the pulse processing industry. Through detailed qualitative interviews and survey data, the report offers insights into the attributes processors value most in pea varieties, the economic and technological pressures they face, and their views on the role of plant breeding in maintaining Canada's competitive edge in global markets. The findings are intended to inform plant breeders, policymakers, and industry stakeholders about the nuanced needs of the processing sector, supporting the development of pea varieties that align with both market realities and sustainability goals. This work underscores the importance of cross-sector collaboration in advancing innovation and resilience in Canada’s pulse industry. |
| Keywords: | Agribusiness, Environmental Economics and Policy, Crop Production/Industries, International Relations/Trade, Sustainability |
| URL: | https://d.repec.org/n?u=RePEc:ags:peaceg:358976 |
| By: | Epperson, James E. |
| Abstract: | A catastrophe (CAT) bond is designed for peanut production as a means of transferring natural disaster risks from insurance purveyors to the global capital market. The CAT bond so designed is priced using state-level historical yields for peanut production in the southern part of the United States in the State of Georgia. The index triggering the CAT bond contract was based on percent deviation from state average yield. The principal finding of the study is that it appears feasible for crop insurance purveyors to issue insurance-linked securities. CAT bonds can reduce the variance of the loss ratio when issued optimally with regard to the number of bonds and contract specifications. CAT bonds could therefore be used in hedging catastrophic risk effectively in peanut production given that crop insurance purveyors normally seek to minimize the variance of the loss ratio. CAT bonds were found to be feasible as hedging instruments even in the range of normal losses commonly covered by crop insurance and reinsurance. |
| Keywords: | Agricultural Finance, Crop Production/Industries, Risk and Uncertainty |
| URL: | https://d.repec.org/n?u=RePEc:ags:ugeocr:44512 |
| By: | Thierry Brunelle (CIRED - Centre International de Recherche sur l'Environnement et le Développement - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EHESS - École des hautes études en sciences sociales - AgroParisTech - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - ENPC - École nationale des ponts et chaussées - IP Paris - Institut Polytechnique de Paris); Gérard de la Paix Bayiha (UMR Innovation - Innovation et Développement dans l'Agriculture et l'Alimentation - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement) |
| Abstract: | Pesticide use in Cameroon has increased dramatically over the past three decades, raising concerns about human and environmental health. Although the economic mechanisms of pesticide use have been widely studied in Europe and the United States, this topic has rarely been explored in tropical countries, primarily due to the poor quality of available data. In this paper, we address this issue by using FAOSTAT data that has been cross-checked with the recently released GloPUT database to improve data reliability. We consider three main mechanisms: the effect of pesticide import prices, agricultural product prices, and labour availability. We used two independent methods to investigate the economic mechanisms of pesticide use: econometric analysis and a farmer survey. Our findings suggest that pesticide use is relatively inelastic with respect to its own price, with elasticity values greater than −1. However, due to a lack of statistical power, the significance levels of our estimates are relatively low, which warrants caution when interpreting the results and drawing conclusions. |
| Abstract: | L'utilisation des pesticides au Cameroun a augmenté de façon spectaculaire au cours des trois dernières décennies, suscitant des inquiétudes quant à la santé humaine et environnementale. Si les mécanismes économiques de l'utilisation des pesticides ont fait l'objet de nombreuses études en Europe et aux États-Unis, peu d'évaluations ont été consacrées à cette question dans les pays tropicaux, principalement en raison de la mauvaise qualité des données. Dans cet article, nous abordons ce problème en utilisant les données de FAOSTAT croisées avec la base de données GloPUT, récemment publiée, afin d'améliorer la fiabilité des données. Trois mécanismes principaux sont pris en compte : l'effet du prix des importations de pesticides, le prix des produits agricoles et la disponibilité de la main-d'oeuvre. Deux méthodes indépendantes sont employées pour étudier les mécanismes économiques de l'utilisation des pesticides : une analyse économétrique et une enquête auprès des agriculteurs. Nos résultats indiquent que l'utilisation des pesticides est relativement inélastique par rapport à son propre prix, avec des valeurs d'élasticité supérieures à −1. Toutefois, en raison d'un manque de puissance statistique, les niveaux de significativité de nos estimations sont relativement faibles. Il convient donc de rester prudent dans l'interprétation des résultats et la formulation de conclusions. |
| Keywords: | Bayesian estimation, Own-price elasticity of demand, Cameroun, Pesticides, fongicide, enquête, modèle mathématique, impact sur l'environnement, utilisation, prix agricole, Élasticité, petite exploitation agricole, analyse économique, élasticité des prix, prix, pesticide |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05332527 |
| By: | Birthal, Pratap S.; Srivastava, Shivendra Kumar; Singh, J. |
| Abstract: | Changes in consumer food preferences have significant implications for agri-food systems, triggering a cascade of adaptations throughout the value chain, from downstream to upstream. As disposable income increases, consumers demand more nutritious and safer foods, signalling producers, processors, and distributors to recalibrate their activities. Such adjustments often require investment in new technologies, sustainable farming practices, food processing, supply chains, and logistics. The implications of changing consumer preferences extend beyond immediate market dynamics, encompassing policies and regulations to balance food demand and supply, and promote responsible consumption and production. |
| Keywords: | Consumer/Household Economics, Research and Development/Tech Change/Emerging Technologies, Supply Chain, Sustainability |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpb:358872 |
| By: | Kee, Hiau Looi; Taglioni, Daria; Xie, Enze |
| Abstract: | This paper examines the roles of tariff and non-tariff measures in China’s meteoric rise as the world’s leading green product supplier. Evidence from customs transaction data from 2000 to 2016 shows that processing firms propelled the export surge, utilizing the expanding domestic material varieties due to trade liberalization benefiting their upstream suppliers. The substitution of domestic materials for imported materials raised the domestic value-added ratio of the processing firms and the exports of green products. A two-sector model rationalizes the empirical results. Trade policy liberalization, together with industrial policies, market scale, and synchronized global demand, contributed to China’s dominance. |
| Date: | 2025–10–23 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11240 |
| By: | Petrick, Cora; Nowak, Wiebke; Grethe, Harald |
| Keywords: | Land Economics/Use |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gewi24:364728 |
| By: | Runyu Wang; Haotian Zhong |
| Abstract: | Urban food delivery services have become an integral part of daily life, yet their mobility and environmental externalities remain poorly addressed by planners. Most studies neglect whether consumers pay enough to internalize the broader social costs of these services. This study quantifies the value of access to and use of food delivery services in Beijing, China, through two discrete choice experiments. The first measures willingness to accept compensation for giving up access, with a median value of CNY588 (approximately USD80). The second captures willingness to pay for reduced waiting time and improved reliability, showing valuations far exceeding typical delivery fees (e.g., CNY96.6/hour and CNY4.83/min at work). These results suggest a substantial consumer surplus and a clear underpricing problem. These findings highlight the need for urban planning to integrate digital service economies into pricing and mobility frameworks. We propose a quantity-based pricing model that targets delivery speed rather than order volume, addressing the primary source of externalities while maintaining net welfare gains. This approach offers a pragmatic, equity-conscious strategy to curb delivery-related congestion, emissions, and safety risks, especially in dense urban cores. |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2510.26636 |
| By: | Goeb, Joseph; Htar, May Thet; Zu, A Myint |
| Abstract: | This Research Note presents results from an August 2025 phone survey of 227 agricultural input retailers – who provide agricultural inputs and informal credit to farmers – in Myanmar’s major agro-ecological zones. Key Findings • Input sales declined sharply in the 2025 monsoon relative to 2024. Fewer retailers sold inorganic fertilizers and pesticides, and aggregate sales for those who did sell declined by 31 percent for inorganic fertilizer and 10 percent for pesticides. • The decline is not solely due to supply shortages: smaller areas planted, weaker farm profits, and conflict have dampened demand, while climate change and the 2025 earthquake add to input market stress. Two-thirds of retailers cite lower input demand from climate change in the past three years, and earthquake impacts – while more localized – disrupted market access and areas planted. • Transport remains the dominant business disruption. Even with a slight drop in overall reported disruptions compared to 2024, transport problems – higher costs, checkpoints and roadblocks – still dominate. Long input supply chains dependent on imports and flowing through Yangon mean that checkpoints and higher costs compound as inputs reach rural farmers. • Farmer finances are stressed, especially in rice-dominant areas. Farmers are asking for and taking more credit from input retailers. This likely reflects tighter liquidity following the recent global rice price decline, which has reduced incentives and profitability for monsoon paddy. • Credit provision is expanding but adding risk. More retailers are providing credit to farmers and sourcing their inputs on credit from suppliers. Yet, two-thirds of retailers that provided credit in 2024 still have unpaid debts from farmers, raising the risks of cascading financial stress. • Measures to ease transport constraints, stabilize access to imported fertilizers and pesticides, and expand formal credit options for both farmers and retailers would help sustain this essential link in the agrifood system. |
| Keywords: | farm inputs; markets; transport; supply chains; prices; rice; Myanmar; Asia; South-eastern Asia |
| Date: | 2025–10–22 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:othbrf:177266 |
| By: | Michels, Marius; Bonke, Vanessa; Wever, Hendrik; Mußhoff, Oliver |
| Keywords: | Research and Development/Tech Change/Emerging Technologies |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gewi24:364725 |
| By: | Thies, Annika Johanna; Altmann, Brianne Andrea; Countryman, Amanda; Smith, Colton; Holloway, Maggie; Nair, Mahesh N. |
| Keywords: | Consumer/Household Economics |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gewi24:364731 |
| By: | Gerrit Meyerheim |
| Abstract: | This paper integrates tail aversion, implemented via a one-period entropic tilt, with rare disasters in a consumption-based asset pricing model with CRRA utility to jointly address the equity premium and risk-free rate puzzles. The model delivers closed-form expressions for the risk-free rate and asset moments, pushes out the Hansen-Jagannathan bound, implies a low risk-free rate via diffusion and disaster channels, and delivers natural upper and lower bounds of risk aversion. Calibrated to long-run return data and disciplined by disaster evidence, the model matches average returns, volatility, and a low real risk-free rate with very modest risk aversion. |
| Keywords: | equity premium puzzle, risk-free rate puzzle, rare disasters, entropic tilt, multiplier (KL) preferences, robust control, consumption-based asset pricing |
| JEL: | G12 E44 E43 E21 D81 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12231 |
| By: | Marta Garcia-Rodriguez (Bank of Spain); Roman Horvath (Institute of Economic Studies, Charles University); Clemente Pinilla-Torremocha (Bank of England and European Research University-ERC-London) |
| Abstract: | We examine how the macroeconomic effects of temperature shocks have evolved in the United States since 1947. Using a time-varying parameter vector autoregression with stochastic volatility estimated on monthly data, we document a structural shift in the propagation of temperature shocks. Before the 1980s, higher temperatures induced demand-like dynamics—output and prices rose together. Since the 1980s, responses have become supply-like: real activity declines persistently while prices rise on impact and turn negative thereafter. A sectoral decomposition confirms shifts in agriculture, manufacturing, and services, with the services sector the primary driver of recent GDP dynamics. Our results reveal that food, services, and energy prices drive most of the aggregate price adjustments, while core prices remain muted. Temperature shocks now explain a rising share of medium-run output and price variation, and greater ex-ante temperature uncertainty depresses equity valuations on impact. Overall, temperature shocks have become increasingly contractionary and inflationary in nature. |
| Keywords: | Temperature shocks, Time-varying VAR, US economy |
| JEL: | C22 E30 E32 Q54 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:fau:wpaper:wp2025_21 |
| By: | Domke, Niklas; Gocht, Alexander; Grethe, Harald |
| Keywords: | Land Economics/Use |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:gewi24:364713 |
| By: | Josée St-Pierre; Annie Royer; Crispin Enagogo; Jean-Pierre Dany Menguele |
| Abstract: | L’industrie bioalimentaire revêt une importance capitale dans l’économie québécoise. En 2023, sa contribution à l’économie était estimée à plus de 6 % du produit intérieur brut et 12 % de l’ensemble des emplois. Les exportations bioalimentaires ont atteint un record de 12 milliards de dollars en 2023. Ces activités à l’international génèrent des retombées importantes pour le Québec et pour les entreprises qui y sont engagées. La préparation à l'exportation est cruciale pour éviter des embûches qui pourraient s’avérer fatales pour certaines entreprises et particulièrement les PME. Dans une étude CIRANO (St-Pierre et al., 2024), les auteurs examinent les enjeux financiers qui peuvent se révéler critiques à tout moment du processus d’exportation et propose un outil d’aide à la planification. |
| Date: | 2025–10–30 |
| URL: | https://d.repec.org/n?u=RePEc:cir:circah:2025pj-16 |
| By: | Clausen, Jens; Schmitz, Luki |
| Abstract: | Die Studie Szenarien der Entwicklung des Klimawandels und der Energieversorgung von Borderstep Institut und Goethe-Universität Frankfurt (2024) liefert einen breit angelegten Überblick über verschiedene Szenarien der zukünftigen Entwicklung der Energiewende und ihrer Folgen – sowohl auf nationaler als auch auf regionaler Ebene. Im Mittelpunkt stehen dabei vier zentrale Szenarienfelder: Szenarien der zukünftigen Entwicklung der Energieversorgung, Szenarien der zukünftigen Entwicklung in den Märkten bestimmter energierelevanter Produkte, Szenarien der zu erwartenden Folgen des Klimawandels sowie sozioökonomische Szenarien. Ausgangspunkt sind dabei global verfügbare Studien, nationale Energieszenarien (z. B. Dekarbonisierung bis 2045) und Modellregionen wie Berlin und der Hunsrück. Die Analyse zeigt: Für Haushalte bedeuten die Szenarien u. a. einen Rückgang fossiler Brennstoffe (Heizöl, Erdgas), eine steigende Bedeutung von Strom, Fernwärme und Umweltwärme sowie eine Ausweitung von Photovoltaik und Wärmepumpen. Welche zentralen Transformationspfade ergeben sich – und worauf liegt der Fokus? Der Gebäudesektor: Endenergiebedarf soll bis 2045 um rund ein Drittel sinken. Die Verkehrswende: Der Pkw‐Bestand könnte je nach Szenario deutlich schrumpfen; batterieelektrische Fahrzeuge dominieren mit Anteilen zwischen 75 % und 99 %. Die Stromerzeugung: Erforderlich ist eine Vervielfachung der erneuerbaren Stromproduktion – Solar, On‐ und Offshore‐Wind werden jeweils rund ein Drittel des Strommixes übernehmen. Klimawirkungen: Je nach Emissionspfad sind bei einer globalen Erwärmung von 2 °C oder mehr erhebliche Risiken für Natur, Gesellschaft und Wirtschaft absehbar. Die Studie dient insbesondere der Vorbereitung des Projekts EnerVi, das mithilfe eines Visualisierungstools individuelle Folgen der Energiewende und des Klimawandels für Endverbraucher aufzeigt – und so nachhaltiges Verhalten fördern soll. |
| Keywords: | Transformation des Energiesystems, Erneuerbare Energien, Energieeffizienz, Wärmewende, Wärmepumpen, Sektorkopplung |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esrepo:330412 |
| By: | Ruiz-Castillo, Javier |
| Abstract: | This paper reviews the contributions of Herman Pontzer and his coauthors to the science of metabolism with applications to (i) the differences between humans and other great apes, (ii) the origins of the genus Homo, and (iii) the subsistence strategies of the hunter-gatherer mode of production. A series of publications from 2012 to 2025 have established three findings that challenge prevailing positions in the literature on biological anthropology. Firstly, some unique human traits have been made possible by a “metabolic revolution”, according to which humans burn more calories per day than other great apes. Secondly, given the lack of correlation between metabolism and physical activity among sedentary and nomadic populations of contemporary Homo sapiens, the origin of this metabolic revolution can be traced back to the first hunter-gatherers of the genus Homo who appeared in Africa around 2.5 million years ago. This is consistent with the nature of the transition from Australopithecus to early Homo. Thirdly, relative to other apes, the subsistence strategies practiced by human hunter-gatherers consist of high-intensity, high-cost extractive activities and expanded daily territorial ranges which, although they lead to no increase in energy efficiency (energy acquired/energy spent), provide more energy per unit of time for both adult subsistence and the provisioning of offspring during an extended development period. |
| Date: | 2025–10–29 |
| URL: | https://d.repec.org/n?u=RePEc:cte:werepe:48300 |
| By: | Jayani Jayawardhana; Jialin Hou; Johanna Catherine Maclean |
| Abstract: | Cannabis legalization has increased substantially in the past two decades with state-level policies that permit possession this product. A potential concern with cannabis legalization and the corresponding increase in consumption is that – because smoking is the most common consumption mode – respiratory health could worsen. In this study, we offer new evidence on the impact of recreational cannabis laws on asthma outcomes. To do so, we combine commercial health insurance claims and survey data over the period 2008 to 2022 with difference-in-differences and event-study methods. Our findings suggest that asthma diagnoses do not change following legalization of recreational cannabis, while asthma-related dispensed prescription medications decline, and asthma-related outpatient visits and inpatient hospitalizations are stable. An analysis of changes in use of smoked and non-smoked cannabis post-law suggests that, on net, the increase in overall cannabis use attributable to legalization is driven by use of non-smoked cannabis, which may explain why we find limited evidence that asthma outcomes worsen post-law. Collectively, these results suggest that expanded access to legal cannabis has not worsened respiratory health overall, and hint that some patients may use cannabis to manage asthma symptoms. |
| JEL: | I1 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34435 |
| By: | Bruers, Stijn |
| Abstract: | A literature review is conducted of five recently developed methodologies to determine an optimal non-anthropocentric animal welfare levy that internalizes the social costs of animal suffering into the price of animal products, whereby animal and human welfare are counted equally. Chicken meat may get a levy of €30 to €8000 per kilogram, where the best estimates are closer to this upper value. Products from animals larger than chickens usually have a more than ten times lower levy than chicken meat and eggs. The non-anthropocentric animal welfare levy is several orders of magnitude higher than an anthropocentric animal welfare levy that is purely based on human’s altruistic preferences for animal welfare. At such high levels, farmed animal suffering could easily be the largest market failure in our global economy. A politically feasible implementation of a fee-and-dividend animal welfare levy is discussed. |
| Keywords: | animal welfare, meat, externalities, market failure, welfare economics, optimal tax |
| JEL: | Q18 Q50 H21 H23 I31 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:330515 |
| By: | Srivastava, S.K.; Kishore, Prabhat; Birthal, P.S.; Shirsath, P.B. |
| Keywords: | Crop Production/Industries, Research and Development/Tech Change/Emerging Technologies |
| Date: | 2024–03–01 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpb:344938 |
| By: | Yibo Sun |
| Abstract: | This study uses the Synthetic Control Method (SCM) to estimate the causal impact of a January 2025 wildfire on housing prices in Altadena, California. We construct a 'synthetic' Altadena from a weighted average of peer cities to serve as a counterfactual; this approach assumes no spillover effects on the donor pool. The results reveal a substantial negative price effect that intensifies over time. Over the six months following the event, we estimate an average monthly loss of $32, 125. The statistical evidence for this effect is nuanced. Based on the robust post-to-pre-treatment RMSPE ratio, the result is statistically significant at the 10% level (p = 0.0508). In contrast, the effect is not statistically significant when measured by the average post-treatment gap (p = 0.3220). This analysis highlights the significant financial risks faced by communities in fire-prone regions and demonstrates SCM's effectiveness in evaluating disaster-related economic damages. |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2510.22817 |
| By: | Safiullin, Marat; Sharapov, Azat; Elshin, Leonid; Abdrakhmanova, Diliara; Mikhalevich, Polina |
| Abstract: | Целью работы является разработка методического инструментария к идентификации критически значимых товарных номенклатур, импортируемых из-за рубежа, и разработка моделей, определяющих взаимосвязь критического импорта и экономического роста регионов. Результатом исследования являются выявленные товарные группы, формирующие каркас критического импорта для регионов СЗФО, а также степень их влияния на промышленный рост субъектов Север-Западного федерального округа. The aim of the work is to develop methodological tools for identifying critically important commodity nomenclatures imported from abroad, and to develop models that determine the relationship between critical imports and regional economic growth. The result of the study is the identified commodity groups that form the framework of critical imports for the regions of the Northwestern Federal District, as well as the degree of their influence on the industrial growth of the subjects of the Northwestern Federal District. |
| Keywords: | критический импорт, региональные экономические системы, устойчивость экономической динамики, промышленное производство, санкционное давление, пространственный анализ панельных данных, макроэкономические взаимосвязи critical imports, regional economic systems, sustainability of economic dynamics, industrial production, sanctions pressure, spatial analysis of panel data, macroeconomic interrelations |
| JEL: | R10 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126674 |
| By: | Cai, Ruohong; Bergstrom, John C.; Mullen, Jeffrey D.; Wetzstein, Michael E. |
| Abstract: | This paper presents a dynamic crop rotation model that shows how crop yield and price volatility could impact crop mix and acreage response under crop rotation considerations. Specifically, a discrete Markov decision model is utilized to optimize producers’ crop rotation decision within a finite horizon. By maximizing net present value of expected current and future profits, a modified Bellman equation helps develop optimum planting decisions. This model is capable of simulating crop rotations with different lengths and structures. Specifically, the corn-soybeans rotations were simulated using the crop rotation model. |
| Keywords: | Crop Production/Industries, Research Methods/Statistical Methods |
| URL: | https://d.repec.org/n?u=RePEc:ags:ugeocr:103949 |
| By: | Kingsley K. Arthur (Kumasi, Ghana); Simplice A. Asongu (Johannesburg, South Africa); Peter Darko (Kumasi, Ghana); Marvin O. Ansah (Kumasi, Ghana); Sampson Adom (Kumasi, Ghana); Omega Hlortu (Kumasi, Ghana) |
| Abstract: | The current review systematically synthesizes existing literature to provide a comprehensive overview of the nature of financial crimes in Africa and their impact on economic growth. We adopted the PRISMA protocol to identify 128 papers from the Scopus database; which were analyzed using MS Excel, VOS Viewer, and R-packages (Bibliometrix). The survey reveals that financial crimes are on the rise in Africa and have gained increasing concern over the years on the part of scholars, governments and NGOs. The survey also demonstrates that most of the financial crime in Africa emanates from illicit activities such as credit card fraud, cybercrime, mobile money fraud, financial statement fraud, Ponzi scheme, bribery and corruption, public fund mismanagement, terror financing, piracy, identity fraud, tax invasion, drug trafficking, product based-fraud, burglary, trade-based money laundering, sex marketing and gambling; with the majority occurring in specific regions like Western Africa, Southern Africa and Eastern Africa. Socio-political marginalization, poverty and unemployment, weak institutional and financial regulatory systems and individual selfish interests were the major causes. Overall, the content analysis of the studies indicates that financial crimes have significant negative impacts on the economic growth of the African continent. Implications for future research and practices have been discussed. |
| Keywords: | Financial crime, financial fraud, Money laundering, Africa, Economic development, Economic growth, and Bibliometric |
| Date: | 2024–01 |
| URL: | https://d.repec.org/n?u=RePEc:dbm:wpaper:24/022 |
| By: | Kumar, Nalini Ranjan; Athare, Prakash G |
| Keywords: | Crop Production/Industries, Labor and Human Capital, Research and Development/Tech Change/Emerging Technologies, Sustainability |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:ags:icarpb:349214 |