The notion of global standards for developing normative policy was evolved and advocated by the international organizations with globalization. This approach has been in question in last few decades, with emphasis on localization and increasing importance to the study of institutions to solve global problems. The emphasis on biofuel as a commodity for global trade to overcome oil pool deficit, environmental crisis, agricultural profitability and rural development has gained momentum in last three decades. However, the scanning of biofuel policies across world shows that primary motive for the biofuel development was not same. The biofuel programme implementation shows varied level of control by state, private players and community organizations across world, to address the social, economic and environmental challenges. In this background, the paper attempts to explored the institutional design of biofuel development across world.
{"title":"Institutional Design of Biofuel Development Across World","authors":"Satyendra Nath Mishra","doi":"10.2139/ssrn.2945381","DOIUrl":"https://doi.org/10.2139/ssrn.2945381","url":null,"abstract":"The notion of global standards for developing normative policy was evolved and advocated by the international organizations with globalization. This approach has been in question in last few decades, with emphasis on localization and increasing importance to the study of institutions to solve global problems. The emphasis on biofuel as a commodity for global trade to overcome oil pool deficit, environmental crisis, agricultural profitability and rural development has gained momentum in last three decades. However, the scanning of biofuel policies across world shows that primary motive for the biofuel development was not same. The biofuel programme implementation shows varied level of control by state, private players and community organizations across world, to address the social, economic and environmental challenges. In this background, the paper attempts to explored the institutional design of biofuel development across world.","PeriodicalId":101533,"journal":{"name":"ERN: Exploitation of Renewable & Non-Renewables Natural Resources & the Environment (Topic)","volume":"225 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133563961","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Like other developing countries endowed with non-renewable natural resources but underdeveloped political economic institutions, Guyana, a new addition, will face similar challenges.
与其他拥有不可再生自然资源但政治经济制度不发达的发展中国家一样，新加入的圭亚那将面临类似的挑战。
{"title":"Harnessing Oil Wealth in Guyana Via a Sovereign Wealth Fund: Look Before You Leap","authors":"Asim Ali, Patrick J. Schena","doi":"10.2139/SSRN.2979864","DOIUrl":"https://doi.org/10.2139/SSRN.2979864","url":null,"abstract":"Like other developing countries endowed with non-renewable natural resources but underdeveloped political economic institutions, Guyana, a new addition, will face similar challenges.","PeriodicalId":101533,"journal":{"name":"ERN: Exploitation of Renewable & Non-Renewables Natural Resources & the Environment (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128769428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper assesses the low-carbon economy in Asia: how large it is today and how well it will fare in the future. Using patent and trade data, it analyzes the potential of Asian economies to capture value from the design and export of low-carbon technologies, acknowledging that these are only two dimensions of a multidimensional low-carbon economy. It conducts country-level analysis to identify which technologies different countries can specialize in and potentially scale up. The work shows that, overall, Asia has an innovation specialization and revealed comparative advantage in climate change mitigation technologies. Particular strengths include efficient lighting, photovoltaics, and energy storage technologies. Further opportunities include nuclear and smart grids. However, within Asia, there are regional disparities, with countries such as the People’s Republic of China, Japan, and the Republic of Korea outperforming others. This paper highlights how the analytical framework it presents can be used to strategically inform environmental policy makers and concludes with an overview of the green growth policy tool kit.
{"title":"Green Growth Opportunities for Asia","authors":"S. Fankhauser, A. Kazaglis, S. Srivastav","doi":"10.2139/ssrn.2982871","DOIUrl":"https://doi.org/10.2139/ssrn.2982871","url":null,"abstract":"This paper assesses the low-carbon economy in Asia: how large it is today and how well it will fare in the future. Using patent and trade data, it analyzes the potential of Asian economies to capture value from the design and export of low-carbon technologies, acknowledging that these are only two dimensions of a multidimensional low-carbon economy. It conducts country-level analysis to identify which technologies different countries can specialize in and potentially scale up. The work shows that, overall, Asia has an innovation specialization and revealed comparative advantage in climate change mitigation technologies. Particular strengths include efficient lighting, photovoltaics, and energy storage technologies. Further opportunities include nuclear and smart grids. However, within Asia, there are regional disparities, with countries such as the People’s Republic of China, Japan, and the Republic of Korea outperforming others. This paper highlights how the analytical framework it presents can be used to strategically inform environmental policy makers and concludes with an overview of the green growth policy tool kit.","PeriodicalId":101533,"journal":{"name":"ERN: Exploitation of Renewable & Non-Renewables Natural Resources & the Environment (Topic)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115095418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
There is a common assumption that when sustainable forest management (SFM) is not practised the reasons are usually a lack of knowledge or lack of training in applying those techniques. We trace the intermittent development of techniques for SFM in the tropical rainforest of Guyana (South America), beginning with the classical observational ecology at Moraballi Creek in 1929. We reference the deliberate lack of application of SFM in spite of access to science-based information and repeated training. In this country, a precarious political democracy is destabilised by the gigantic profits from illegal logging and log trading which support corruption in the sector and generally across regulatory systems. The highest rate of graduate emigration in the world contributes to the difficulty of creating the core of moral leadership required to rise above the local tradition of under-the-table negotiation in place of the rule of law.
{"title":"Global Ecological Signpost, Local Reality: The Moraballi Creek Studies in Guyana and What Happened Afterwards","authors":"J. Bulkan, J. Palmer","doi":"10.3390/F7120317","DOIUrl":"https://doi.org/10.3390/F7120317","url":null,"abstract":"There is a common assumption that when sustainable forest management (SFM) is not practised the reasons are usually a lack of knowledge or lack of training in applying those techniques. We trace the intermittent development of techniques for SFM in the tropical rainforest of Guyana (South America), beginning with the classical observational ecology at Moraballi Creek in 1929. We reference the deliberate lack of application of SFM in spite of access to science-based information and repeated training. In this country, a precarious political democracy is destabilised by the gigantic profits from illegal logging and log trading which support corruption in the sector and generally across regulatory systems. The highest rate of graduate emigration in the world contributes to the difficulty of creating the core of moral leadership required to rise above the local tradition of under-the-table negotiation in place of the rule of law.","PeriodicalId":101533,"journal":{"name":"ERN: Exploitation of Renewable & Non-Renewables Natural Resources & the Environment (Topic)","volume":"114 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134382012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Nigeria has been facing with a lot of economic problems in the recent years. This paper discusses the Nigeria’s economic problems, causes and the way forward. Governance issues, lack of policy directions on the part of government, corruptions, fall in crude oil prices, over-reliance in crude oil, lack of economic diversification, spate of violent among the constituent units and militancy group, fear of the reintroduction of Buharinomic policy and greed were identified as the major causes of the Nigeria’s economic problems. On the way forward, the study noted that strong law against corrupt practices is imminent, and vibrant market economies that will result in the emergence of classes of industrial workers, diversification, unity and national economic summit to discuss some gray issues in the country. Moreover, Federal Government of Nigeria should come up with definite economic policy direction, “engage in more efficient restriction and controlling of foreign exchange outflow, undertake revival of the country’s productive capacity and broaden government revenue base”. The Federal government should as a matter of urgency concentrate on economic programmes that will continue to arrest the decline in the economy, restore investors confidence and avoid unguided utterances. To chart a future course for economic stability and prosperity, government should engage the services of renowned technocrats in any economic team and continue to demonstrate exemplary leadership in principles and practice in issue of national interest.
{"title":"Nigeria’s Economic Problems; Causes and the Way Forward","authors":"Dr Isaac Monday Ikpor","doi":"10.2139/ssrn.2827993","DOIUrl":"https://doi.org/10.2139/ssrn.2827993","url":null,"abstract":"Nigeria has been facing with a lot of economic problems in the recent years. This paper discusses the Nigeria’s economic problems, causes and the way forward. Governance issues, lack of policy directions on the part of government, corruptions, fall in crude oil prices, over-reliance in crude oil, lack of economic diversification, spate of violent among the constituent units and militancy group, fear of the reintroduction of Buharinomic policy and greed were identified as the major causes of the Nigeria’s economic problems. On the way forward, the study noted that strong law against corrupt practices is imminent, and vibrant market economies that will result in the emergence of classes of industrial workers, diversification, unity and national economic summit to discuss some gray issues in the country. Moreover, Federal Government of Nigeria should come up with definite economic policy direction, “engage in more efficient restriction and controlling of foreign exchange outflow, undertake revival of the country’s productive capacity and broaden government revenue base”. The Federal government should as a matter of urgency concentrate on economic programmes that will continue to arrest the decline in the economy, restore investors confidence and avoid unguided utterances. To chart a future course for economic stability and prosperity, government should engage the services of renowned technocrats in any economic team and continue to demonstrate exemplary leadership in principles and practice in issue of national interest.","PeriodicalId":101533,"journal":{"name":"ERN: Exploitation of Renewable & Non-Renewables Natural Resources & the Environment (Topic)","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114183587","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Natural gas contributes a growing share of the world's energy mix. In this paper we use national-level data for a sample of 44 countries to estimate the price and income elasticities of natural gas demand. We present both single-equation results and results instrumenting natural gas prices with proved natural gas reserves. Our instrument includes both domestic reserves and distance-weighted reserves in other countries. We obtain estimates of the average long-run price elasticity of natural gas demand of around −1.25 and of the average long-run income elasticity of natural gas demand of +1 and higher. We also present separate estimates for final natural gas demand by industry and households.
{"title":"The Price and Income Elasticities of Natural Gas Demand: International Evidence","authors":"Paul J. Burke, Hewen Yang","doi":"10.2139/ssrn.2847434","DOIUrl":"https://doi.org/10.2139/ssrn.2847434","url":null,"abstract":"Natural gas contributes a growing share of the world's energy mix. In this paper we use national-level data for a sample of 44 countries to estimate the price and income elasticities of natural gas demand. We present both single-equation results and results instrumenting natural gas prices with proved natural gas reserves. Our instrument includes both domestic reserves and distance-weighted reserves in other countries. We obtain estimates of the average long-run price elasticity of natural gas demand of around −1.25 and of the average long-run income elasticity of natural gas demand of +1 and higher. We also present separate estimates for final natural gas demand by industry and households.","PeriodicalId":101533,"journal":{"name":"ERN: Exploitation of Renewable & Non-Renewables Natural Resources & the Environment (Topic)","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123316992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ben Caldecott, G. Dericks, D. Tulloch, L. Kruitwagen, I. Kok
The principal aim of this report is to turn the latest research on environment-related risk factors facing thermal coal assets into actionable investment hypotheses for investors. By examining the fundamental drivers of environment-related risk, creating appropriate measures to differentiate the exposure of different assets to these risks, and linking this analysis to company ownership, debt issuance, and capital expenditure plans, our research can help to inform specific investor actions related to risk management, screening, voting, engagement, and disinvestment. To our knowledge, this report contains the most comprehensive and up-to-date analysis of the environment-related risks facing thermal coal companies that is publicly available.
{"title":"Stranded Assets and Thermal Coal in Japan: An Analysis of Environment-Related Risk Exposure","authors":"Ben Caldecott, G. Dericks, D. Tulloch, L. Kruitwagen, I. Kok","doi":"10.2139/SSRN.2779580","DOIUrl":"https://doi.org/10.2139/SSRN.2779580","url":null,"abstract":"The principal aim of this report is to turn the latest research on environment-related risk factors facing thermal coal assets into actionable investment hypotheses for investors. By examining the fundamental drivers of environment-related risk, creating appropriate measures to differentiate the exposure of different assets to these risks, and linking this analysis to company ownership, debt issuance, and capital expenditure plans, our research can help to inform specific investor actions related to risk management, screening, voting, engagement, and disinvestment. To our knowledge, this report contains the most comprehensive and up-to-date analysis of the environment-related risks facing thermal coal companies that is publicly available.","PeriodicalId":101533,"journal":{"name":"ERN: Exploitation of Renewable & Non-Renewables Natural Resources & the Environment (Topic)","volume":"106 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122103657","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Mitigating climate change will require innovation in energy technologies. Policy makers are faced with the question of how to promote this innovation, and whether to focus on a few technologies or to spread their bets. We present results on the extent to which public R&D might shape the future cost of energy technologies by 2030. We bring together three major expert elicitation efforts carried out by researchers at UMass Amherst, Harvard, and FEEM, covering nuclear, solar, Carbon Capture and Storage (CCS), bioelectricity, and biofuels. The results show experts believe that there will be decreasing returns to R&D and report median cost reductions around 20% for most of the technologies at the R&D budgets considered. Although the returns to solar and CCS R&D show some promise, the lack of consensus across studies, and the larger magnitude of the R&D investment involved in these technologies, calls for caution when defining what technologies would benefit the most from additional public R&D. Indeed, the wide divergence of opinions suggests that it is still too early to pick winners and that a broad portfolio of investments may be the best option.
{"title":"Too Early to Pick Winners: Disagreement Across Experts Implies the Need to Diversify R&D Investment","authors":"Laura Diaz Anadon, E. Baker, V. Bosetti, L. Reis","doi":"10.2139/ssrn.2749585","DOIUrl":"https://doi.org/10.2139/ssrn.2749585","url":null,"abstract":"Mitigating climate change will require innovation in energy technologies. Policy makers are faced with the question of how to promote this innovation, and whether to focus on a few technologies or to spread their bets. We present results on the extent to which public R&D might shape the future cost of energy technologies by 2030. We bring together three major expert elicitation efforts carried out by researchers at UMass Amherst, Harvard, and FEEM, covering nuclear, solar, Carbon Capture and Storage (CCS), bioelectricity, and biofuels. The results show experts believe that there will be decreasing returns to R&D and report median cost reductions around 20% for most of the technologies at the R&D budgets considered. Although the returns to solar and CCS R&D show some promise, the lack of consensus across studies, and the larger magnitude of the R&D investment involved in these technologies, calls for caution when defining what technologies would benefit the most from additional public R&D. Indeed, the wide divergence of opinions suggests that it is still too early to pick winners and that a broad portfolio of investments may be the best option.","PeriodicalId":101533,"journal":{"name":"ERN: Exploitation of Renewable & Non-Renewables Natural Resources & the Environment (Topic)","volume":"405 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116031356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study how much private mineral owners capture geologically-driven advantages in well productivity through a higher royalty rate. Using proprietary data from nearly 1.8 million leases, we estimate that the six major shale plays generated $39 billion in private royalties in 2014. There is limited pass-through of resource abundance into royalty rates. A doubling of the ultimate recovery of the average well in a county increases the average royalty rate by 1–2 percentage points (a 6–11 percent increase). Thus, mineral owners benefit from resource abundance primarily through a quantity effect, not through negotiating better lease terms from extraction firms. The low pass-through likely reflects a combination of firms exercising market power in private leasing markets and uncertainty over the value of resource endowments.
{"title":"Capturing Rents from Natural Resource Abundance: Private Royalties from U.S. Onshore Oil & Gas Production","authors":"Jason Brown, Timothy Fitzgerald, Jeremy G. Weber","doi":"10.2139/ssrn.2623633","DOIUrl":"https://doi.org/10.2139/ssrn.2623633","url":null,"abstract":"We study how much private mineral owners capture geologically-driven advantages in well productivity through a higher royalty rate. Using proprietary data from nearly 1.8 million leases, we estimate that the six major shale plays generated $39 billion in private royalties in 2014. There is limited pass-through of resource abundance into royalty rates. A doubling of the ultimate recovery of the average well in a county increases the average royalty rate by 1–2 percentage points (a 6–11 percent increase). Thus, mineral owners benefit from resource abundance primarily through a quantity effect, not through negotiating better lease terms from extraction firms. The low pass-through likely reflects a combination of firms exercising market power in private leasing markets and uncertainty over the value of resource endowments.","PeriodicalId":101533,"journal":{"name":"ERN: Exploitation of Renewable & Non-Renewables Natural Resources & the Environment (Topic)","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123767562","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ghana has been plagued with Power Crisis for the past three years. In the mix of discussions on the energy challenges that Ghana has been confronted with over the years is the level of efficiency of its sole electricity distribution organisation; the Electricity Company of Ghana Limited (ECG). Whiles some experts have called for the contracting of the management of the ECG in order to make it much more efficient and profitable, others have advised that the company should be totally privatised. Proponents of the latter stance argue that this would enable the ECG run more efficiently and attract the necessary investments which would employ efficient technologies in the distribution of power for industry and households. This feat is necessary especially considering that Ghana has committed to universal access to electricity in year 2020. This paper focuses on analysing the financial performance of the Electricity Company of Ghana from 2009 to 2012 by the use of financial ratios. In nutshell, results from the ratios are used to advise on the best ways to make the ECG an efficient organisation in delivering on its core mandate to the citizenry of Ghana.
{"title":"Will the Anchor Hold? An Overview of the Financial Performance of the Electricity Company of Ghana (ECG) from 2009 to 2012","authors":"I. Ackah, Robert Atsrim","doi":"10.2139/ssrn.2665023","DOIUrl":"https://doi.org/10.2139/ssrn.2665023","url":null,"abstract":"Ghana has been plagued with Power Crisis for the past three years. In the mix of discussions on the energy challenges that Ghana has been confronted with over the years is the level of efficiency of its sole electricity distribution organisation; the Electricity Company of Ghana Limited (ECG). Whiles some experts have called for the contracting of the management of the ECG in order to make it much more efficient and profitable, others have advised that the company should be totally privatised. Proponents of the latter stance argue that this would enable the ECG run more efficiently and attract the necessary investments which would employ efficient technologies in the distribution of power for industry and households. This feat is necessary especially considering that Ghana has committed to universal access to electricity in year 2020. This paper focuses on analysing the financial performance of the Electricity Company of Ghana from 2009 to 2012 by the use of financial ratios. In nutshell, results from the ratios are used to advise on the best ways to make the ECG an efficient organisation in delivering on its core mandate to the citizenry of Ghana.","PeriodicalId":101533,"journal":{"name":"ERN: Exploitation of Renewable & Non-Renewables Natural Resources & the Environment (Topic)","volume":"149 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134012522","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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