Pub Date : 2021-03-24DOI: 10.1080/21606544.2021.1903560
Mohammad Mashiur Rahman, A. Bohara, Jesus E. Vazquez
ABSTRACT The lack of proper waste management behaviour creates environmental debasement and induces health risks. This study employs primary survey data collected in 2016 to investigate the association between health risks and improper waste management behaviour by households in three locations of Rupandehi District, Nepal. The health risk is measured by a series of water-related symptoms such as Diarrhea, Jaundice, Typhoid Fever, Worms, and Cholera. This paper’s novel contribution is that we identify the spatial nature of the prevalence of waterborne diseases and related factors such as solid waste management behaviour, hygiene infrastructure and personal cleanliness, and socio-economic status of the households. We use a spatial autoregressive model under the negative binomial family, and the result indicates a significant spatial autocorrelation of waterborne diseases. Moreover, we find the significant effect of improper waste management practices on waterborne diseases. The result is consistent even after various robustness and falsification tests. The findings from this study indicate the acute need to raise awareness concerning the malicious effect of improper waste management and the urge to provide wider access to waste management services.
{"title":"Geospatial analysis of health risks and solid waste management behaviour","authors":"Mohammad Mashiur Rahman, A. Bohara, Jesus E. Vazquez","doi":"10.1080/21606544.2021.1903560","DOIUrl":"https://doi.org/10.1080/21606544.2021.1903560","url":null,"abstract":"ABSTRACT The lack of proper waste management behaviour creates environmental debasement and induces health risks. This study employs primary survey data collected in 2016 to investigate the association between health risks and improper waste management behaviour by households in three locations of Rupandehi District, Nepal. The health risk is measured by a series of water-related symptoms such as Diarrhea, Jaundice, Typhoid Fever, Worms, and Cholera. This paper’s novel contribution is that we identify the spatial nature of the prevalence of waterborne diseases and related factors such as solid waste management behaviour, hygiene infrastructure and personal cleanliness, and socio-economic status of the households. We use a spatial autoregressive model under the negative binomial family, and the result indicates a significant spatial autocorrelation of waterborne diseases. Moreover, we find the significant effect of improper waste management practices on waterborne diseases. The result is consistent even after various robustness and falsification tests. The findings from this study indicate the acute need to raise awareness concerning the malicious effect of improper waste management and the urge to provide wider access to waste management services.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":"10 1","pages":"400 - 427"},"PeriodicalIF":2.6,"publicationDate":"2021-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/21606544.2021.1903560","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46916755","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}
Pub Date : 2021-03-18DOI: 10.1080/21606544.2021.1901786
T. Kuhn, Radomir Pestow, Anja Zenker
ABSTRACT The purpose of this paper is to propose an axiomatic characterization of ecological footprint indices. Using an axiomatic approach, we define a set of axioms representing the properties considered appropriate to ecological footprint measures in general. It can be shown that there exists a generalized index which is given by an arbitrary affine transformation of the land area appropriated to provide a country's share of consumption on world production. The footprint of a subset of countries is given by the sum of the individual footprints. As an implication, the well-known compound-based footprint index used by the Global Footprint Network can be characterized as a specification of the generalized index by an appropriate affine transformation. With respect to empirical applications the proposition of generalized and axiomatically characterized measures for the ecological burden by human activity may be considered as the main contribution of the paper.
{"title":"An axiomatic characterization of a generalized ecological footprint","authors":"T. Kuhn, Radomir Pestow, Anja Zenker","doi":"10.1080/21606544.2021.1901786","DOIUrl":"https://doi.org/10.1080/21606544.2021.1901786","url":null,"abstract":"ABSTRACT The purpose of this paper is to propose an axiomatic characterization of ecological footprint indices. Using an axiomatic approach, we define a set of axioms representing the properties considered appropriate to ecological footprint measures in general. It can be shown that there exists a generalized index which is given by an arbitrary affine transformation of the land area appropriated to provide a country's share of consumption on world production. The footprint of a subset of countries is given by the sum of the individual footprints. As an implication, the well-known compound-based footprint index used by the Global Footprint Network can be characterized as a specification of the generalized index by an appropriate affine transformation. With respect to empirical applications the proposition of generalized and axiomatically characterized measures for the ecological burden by human activity may be considered as the main contribution of the paper.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":"10 1","pages":"391 - 399"},"PeriodicalIF":2.6,"publicationDate":"2021-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/21606544.2021.1901786","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49489259","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}
Pub Date : 2021-02-26DOI: 10.1080/21606544.2021.1966516
Sven Gruener
ABSTRACT Dohmen et al. (2010) find in their paper (‘Are Risk Aversion and Impatience Related to Cognitive Ability?'), which has been published in the American Economic Review, that risk aversion and impatience are negatively related to cognitive ability. This topic is important because controlling for cognitive ability might be necessary if someone is interested in the link of risk preferences or time preferences to real-world outcomes. We re-examine their key results by conducting an experimental study using two subject pools (agricultural students and farmers) and three levels of monetary incentives. Similar to Dohmen et al. (2010), our study finds the above-described negative correlations. However, the strength of the association is relatively small in the realm of risk aversion and negligible with impatience.
Dohmen等人(2010)在《美国经济评论》上发表的论文《风险厌恶和急躁与认知能力有关吗?》中发现，风险厌恶和急躁与认知能力呈负相关。这个话题很重要，因为如果有人对风险偏好或时间偏好与现实世界结果的联系感兴趣，那么控制认知能力可能是必要的。我们通过使用两个主题池(农业学生和农民)和三个级别的货币激励进行实验研究，重新审视了他们的关键结果。与Dohmen et al.(2010)相似，我们的研究发现了上述负相关。然而，在风险厌恶的领域，这种关联的强度相对较小，在不耐烦的情况下可以忽略不计。
{"title":"Rethinking how risk aversion and impatience are linked with cognitive ability: experimental findings from agricultural students and farmers","authors":"Sven Gruener","doi":"10.1080/21606544.2021.1966516","DOIUrl":"https://doi.org/10.1080/21606544.2021.1966516","url":null,"abstract":"ABSTRACT Dohmen et al. (2010) find in their paper (‘Are Risk Aversion and Impatience Related to Cognitive Ability?'), which has been published in the American Economic Review, that risk aversion and impatience are negatively related to cognitive ability. This topic is important because controlling for cognitive ability might be necessary if someone is interested in the link of risk preferences or time preferences to real-world outcomes. We re-examine their key results by conducting an experimental study using two subject pools (agricultural students and farmers) and three levels of monetary incentives. Similar to Dohmen et al. (2010), our study finds the above-described negative correlations. However, the strength of the association is relatively small in the realm of risk aversion and negligible with impatience.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":"11 1","pages":"248 - 259"},"PeriodicalIF":2.6,"publicationDate":"2021-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44454140","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}
Pub Date : 2021-02-20DOI: 10.1080/21606544.2021.1882342
M. Ikegami, Zijian Wang
ABSTRACT Whether energy aid contributes to the reduction of CO2 emissions in developing countries is an unresolved question. We investigate whether the OECD Development Assistance Committee members’ energy aid can help reduce CO2 emission intensities in 64 recipient countries over the period 1995–2014. We find that once lagged energy aid – when measured in terms of once lagged GDP, in absolute terms, or in terms of once lagged total sectoral aid – is effective in reducing the recipients’ subsequent CO2 emission intensities. Importantly, we find highly varied effects of energy aid on the recipients’ CO2 emission intensities – fossil fuel-rich (poor) countries stand to benefit least (most) from receiving energy aid. Our findings point towards the merit of energy aid as a policy tool in achieving the CO2 emission reduction goals and the necessity for bilateral aid donors to take into account the recipients’ fossil fuel abundance when making provisions for energy aid.
{"title":"Does energy aid reduce CO2 emission intensities in developing countries?","authors":"M. Ikegami, Zijian Wang","doi":"10.1080/21606544.2021.1882342","DOIUrl":"https://doi.org/10.1080/21606544.2021.1882342","url":null,"abstract":"ABSTRACT Whether energy aid contributes to the reduction of CO2 emissions in developing countries is an unresolved question. We investigate whether the OECD Development Assistance Committee members’ energy aid can help reduce CO2 emission intensities in 64 recipient countries over the period 1995–2014. We find that once lagged energy aid – when measured in terms of once lagged GDP, in absolute terms, or in terms of once lagged total sectoral aid – is effective in reducing the recipients’ subsequent CO2 emission intensities. Importantly, we find highly varied effects of energy aid on the recipients’ CO2 emission intensities – fossil fuel-rich (poor) countries stand to benefit least (most) from receiving energy aid. Our findings point towards the merit of energy aid as a policy tool in achieving the CO2 emission reduction goals and the necessity for bilateral aid donors to take into account the recipients’ fossil fuel abundance when making provisions for energy aid.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":"10 1","pages":"343 - 358"},"PeriodicalIF":2.6,"publicationDate":"2021-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/21606544.2021.1882342","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44989135","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}
Pub Date : 2021-02-17DOI: 10.1080/21606544.2021.1886994
Magnus Söderberg
ABSTRACT This paper empirically investigates how economic development (GDP) affects energy use. It deviates from previous studies in two important ways: (i) it explicitly allows the effect to be heterogeneous across regions, and (ii) it acknowledges that changes in GDP, i.e. GDP growth, can be endogenous and controls for this by exploiting deaths from natural disasters in 2002 and 2003. This instrument incorporates a natural experiment caused by the unusually severe heat wave that swept past several European countries in the summer of 2003. Based on data from 120 countries, results indicate that the marginal effect of the GDP rate is 66% higher when using 2SLS compared to OLS and that there is substantial heterogeneity across countries. Energy use is negatively correlated with the GDP level suggesting that there may be an Energy Kuznets Curve, but unexplained heterogeneity at high income levels suggests that there is still more to learn about the GDP-Energy relationship. HIGHLIGHTS Investigates empirically how GDP growth affects energy use. Utilises the 2003 European heat wave as an instrument for GDP. Results show the relationship is heterogeneous and OLS is downward biased. Indication of Kuznets effect, i.e. a stronger relationship for less developed countries.
{"title":"Identification of how economic development affects energy use through a natural experiment","authors":"Magnus Söderberg","doi":"10.1080/21606544.2021.1886994","DOIUrl":"https://doi.org/10.1080/21606544.2021.1886994","url":null,"abstract":"ABSTRACT This paper empirically investigates how economic development (GDP) affects energy use. It deviates from previous studies in two important ways: (i) it explicitly allows the effect to be heterogeneous across regions, and (ii) it acknowledges that changes in GDP, i.e. GDP growth, can be endogenous and controls for this by exploiting deaths from natural disasters in 2002 and 2003. This instrument incorporates a natural experiment caused by the unusually severe heat wave that swept past several European countries in the summer of 2003. Based on data from 120 countries, results indicate that the marginal effect of the GDP rate is 66% higher when using 2SLS compared to OLS and that there is substantial heterogeneity across countries. Energy use is negatively correlated with the GDP level suggesting that there may be an Energy Kuznets Curve, but unexplained heterogeneity at high income levels suggests that there is still more to learn about the GDP-Energy relationship. HIGHLIGHTS Investigates empirically how GDP growth affects energy use. Utilises the 2003 European heat wave as an instrument for GDP. Results show the relationship is heterogeneous and OLS is downward biased. Indication of Kuznets effect, i.e. a stronger relationship for less developed countries.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":"10 1","pages":"359 - 373"},"PeriodicalIF":2.6,"publicationDate":"2021-02-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/21606544.2021.1886994","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43482739","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}
Pub Date : 2021-02-11DOI: 10.1080/21606544.2021.1880486
Akseer Hussain, S. Dey
ABSTRACT This study investigates the existence of Environmental Kuznets curve (so for EKC) for a panel of 30 countries (as three sub-groups viz. developed economies, emerging economies and developing economies) over the period of 27 years from 1990 to 2016. The EKC proposes an inverted U-shape relation between environmental degradation and economic development. Unlike other similar studies where economic development proxied through GDP growth, in this study Human Development Index (HDI) is taken as a measure of development. Thereby the EKC existence is found here as relationship between HDI and emission (environmental degradation measured in terms of emission). The econometric framework for this study consists of Pooled OLS model, fixed effect model and fixed effect with instrumental variable model. Results showed the strong evidence of EKC for this panel of countries and also for each individual group of the countries.
{"title":"Revisiting environmental Kuznets curve with HDI: new evidence from cross-country panel data","authors":"Akseer Hussain, S. Dey","doi":"10.1080/21606544.2021.1880486","DOIUrl":"https://doi.org/10.1080/21606544.2021.1880486","url":null,"abstract":"ABSTRACT This study investigates the existence of Environmental Kuznets curve (so for EKC) for a panel of 30 countries (as three sub-groups viz. developed economies, emerging economies and developing economies) over the period of 27 years from 1990 to 2016. The EKC proposes an inverted U-shape relation between environmental degradation and economic development. Unlike other similar studies where economic development proxied through GDP growth, in this study Human Development Index (HDI) is taken as a measure of development. Thereby the EKC existence is found here as relationship between HDI and emission (environmental degradation measured in terms of emission). The econometric framework for this study consists of Pooled OLS model, fixed effect model and fixed effect with instrumental variable model. Results showed the strong evidence of EKC for this panel of countries and also for each individual group of the countries.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":"10 1","pages":"324 - 342"},"PeriodicalIF":2.6,"publicationDate":"2021-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/21606544.2021.1880486","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41583904","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}
Pub Date : 2021-02-08DOI: 10.1080/21606544.2021.1879682
Danyel Hampson, S. Ferrini, R. Turner
ABSTRACT Choice decisions are inherently subjective but capturing and explaining nuanced variation in respondents’ attitudes is difficult and needs more than the simple socio-demographic variables traditionally used in economic research. In recent years, environmental economists have been shifting towards a more holistic approach to economic valuation, making an increased use of psychology within behavioural economics, to better understand subjective preferences on the environment. This research applies a novel mixed-methods approach to integrate the results from a Q-methodological analysis, which reveals respondents’ latent traits and perceptions about river management, into a choice experiment which estimates respondents’ preferences for potential future improvements to river water quality. The purpose is to improve the quantification of subjectivity within stated preference experiments. Q-methodology reveals five statistically distinct narratives (characterised as Ecological, Financial, Leadership, Collaboration, Legislation) which define the main perspectives respondents hold for river management strategies. Choice experiment results suggest subjectivity causes significant differences in respondents’ choice behaviour. Statistically verified Q-methodological narratives provide plausible explanations for differences in respondents’ choice preferences regarding river water quality improvements. By triangulating between quantitative and qualitative research methods, we demonstrate a research strategy that can contribute to a better understanding of the impact socially contested perspectives have on respondents’ choice behaviour.
{"title":"Assessing subjective preferences for river quality improvements: combining Q-methodology and choice experiment data","authors":"Danyel Hampson, S. Ferrini, R. Turner","doi":"10.1080/21606544.2021.1879682","DOIUrl":"https://doi.org/10.1080/21606544.2021.1879682","url":null,"abstract":"ABSTRACT Choice decisions are inherently subjective but capturing and explaining nuanced variation in respondents’ attitudes is difficult and needs more than the simple socio-demographic variables traditionally used in economic research. In recent years, environmental economists have been shifting towards a more holistic approach to economic valuation, making an increased use of psychology within behavioural economics, to better understand subjective preferences on the environment. This research applies a novel mixed-methods approach to integrate the results from a Q-methodological analysis, which reveals respondents’ latent traits and perceptions about river management, into a choice experiment which estimates respondents’ preferences for potential future improvements to river water quality. The purpose is to improve the quantification of subjectivity within stated preference experiments. Q-methodology reveals five statistically distinct narratives (characterised as Ecological, Financial, Leadership, Collaboration, Legislation) which define the main perspectives respondents hold for river management strategies. Choice experiment results suggest subjectivity causes significant differences in respondents’ choice behaviour. Statistically verified Q-methodological narratives provide plausible explanations for differences in respondents’ choice preferences regarding river water quality improvements. By triangulating between quantitative and qualitative research methods, we demonstrate a research strategy that can contribute to a better understanding of the impact socially contested perspectives have on respondents’ choice behaviour.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":"11 1","pages":"56 - 74"},"PeriodicalIF":2.6,"publicationDate":"2021-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/21606544.2021.1879682","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42986453","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}
ABSTRACT The study empirically investigates and shows that on average, the implementation of the Comprehensive Economic and Trade Agreement (CETA) may contribute in the fight against global warming. This study finds that on average, a 1 percent increase of a percentage point in the bilateral volume of trade as a portion of GDP between Canada and a typical EU member could help reduce annual per capita emissions of GHGs in an average CETA member by about .57%. The results also show that the presence of CETA may decrease annual per capita emissions of GHGs in almost all CETA members. There is no statistically significant evidence suggesting an increase of GHGs per capita emissions in any CETA member, regardless of the model or statistical method employed in the paper. These results stand because of the combinations of the factor endowment hypothesis (FEH), the pollution haven hypothesis based on population density variations (PHH2) and the pollution haven hypothesis based on national income differences (PHH1) between each EU member and Canada.
{"title":"Comprehensive Economic and Trade Agreement (CETA) and air pollution","authors":"Dhimitri Qirjo, Razvan Pascalau, Dmitriy Krichevskiy","doi":"10.1080/21606544.2021.1877199","DOIUrl":"https://doi.org/10.1080/21606544.2021.1877199","url":null,"abstract":"ABSTRACT The study empirically investigates and shows that on average, the implementation of the Comprehensive Economic and Trade Agreement (CETA) may contribute in the fight against global warming. This study finds that on average, a 1 percent increase of a percentage point in the bilateral volume of trade as a portion of GDP between Canada and a typical EU member could help reduce annual per capita emissions of GHGs in an average CETA member by about .57%. The results also show that the presence of CETA may decrease annual per capita emissions of GHGs in almost all CETA members. There is no statistically significant evidence suggesting an increase of GHGs per capita emissions in any CETA member, regardless of the model or statistical method employed in the paper. These results stand because of the combinations of the factor endowment hypothesis (FEH), the pollution haven hypothesis based on population density variations (PHH2) and the pollution haven hypothesis based on national income differences (PHH1) between each EU member and Canada.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":"10 1","pages":"293 - 323"},"PeriodicalIF":2.6,"publicationDate":"2021-01-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/21606544.2021.1877199","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44645590","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}
Pub Date : 2021-01-22DOI: 10.1080/21606544.2020.1868345
Bryn Lockwood, B. Drakeford
ABSTRACT Following decades of habitat loss, carbon sequestration by coastal margin habitats has been recognised for its capacity to regulate atmospheric greenhouse gas concentrations. Chichester Harbour, an estuarine complex on the South coast of the UK, is used as a case study area in this paper. Saltmarsh habitat there has declined by 60.6% from 1946 to 2018. This downward trend is predicted to continue. Extrapolated from historic habitat loss, three future saltmarsh habitat area scenarios (worst-case, average loss, best-case) are used to estimate the net carbon sequestered by saltmarsh from 2018 to 2030. Only the best-case scenario predicts a positive net carbon sequestration. Two representative carbon prices (UK policy abatement cost, and the social cost of carbon) are applied to estimate the value of the net carbon sequestered. Discount rates of 2.3% and 3.5% are also applied. Average loss scenario values range from −£2,221,358.99 ± 627,655.96 (abatement cost and a 2.3% discount rate) to −£986,303.19 ± 278,684.84 (social cost of carbon and a 3.5% discount rate). This study is the first to examine non-use values in the area. Results generated here can aid in highlighting the benefits saltmarsh habitats provide, promoting its conservation, as valuations of coastal habitats are poorly represented in management.
{"title":"The value of carbon sequestration by saltmarsh in Chichester Harbour, United Kingdom","authors":"Bryn Lockwood, B. Drakeford","doi":"10.1080/21606544.2020.1868345","DOIUrl":"https://doi.org/10.1080/21606544.2020.1868345","url":null,"abstract":"ABSTRACT Following decades of habitat loss, carbon sequestration by coastal margin habitats has been recognised for its capacity to regulate atmospheric greenhouse gas concentrations. Chichester Harbour, an estuarine complex on the South coast of the UK, is used as a case study area in this paper. Saltmarsh habitat there has declined by 60.6% from 1946 to 2018. This downward trend is predicted to continue. Extrapolated from historic habitat loss, three future saltmarsh habitat area scenarios (worst-case, average loss, best-case) are used to estimate the net carbon sequestered by saltmarsh from 2018 to 2030. Only the best-case scenario predicts a positive net carbon sequestration. Two representative carbon prices (UK policy abatement cost, and the social cost of carbon) are applied to estimate the value of the net carbon sequestered. Discount rates of 2.3% and 3.5% are also applied. Average loss scenario values range from −£2,221,358.99 ± 627,655.96 (abatement cost and a 2.3% discount rate) to −£986,303.19 ± 278,684.84 (social cost of carbon and a 3.5% discount rate). This study is the first to examine non-use values in the area. Results generated here can aid in highlighting the benefits saltmarsh habitats provide, promoting its conservation, as valuations of coastal habitats are poorly represented in management.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":"10 1","pages":"278 - 292"},"PeriodicalIF":2.6,"publicationDate":"2021-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/21606544.2020.1868345","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43255983","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}
Pub Date : 2021-01-07DOI: 10.1080/21606544.2020.1857848
Doramas Jorge-Calderón
ABSTRACT International loans often finance projects with environmental benefits and costs. Cost–benefit analysis (CBA) is the default tool to determine the societal economic value of investment projects or policies producing environmental externalities. Standing in CBA concerns whose benefits and costs count in the calculation of societal value. Common practice is to grant standing only to nationals of the country hosting the policy or investment project under appraisal. Foreign lenders therefore do not stand. The social opportunity cost (SOC) approach to the social discount rate (SDR) addresses foreign loans. In the SOC approach, the SDR incorporates the opportunity cost of foreign loans associated to a marginal change in government borrowing, while foreign lenders implicitly do not stand. However, the literature has not addressed the treatment of foreign loans in appraisals following the social time preference (STP) method of discounting. This paper argues that CBA appraisals following the STP approach to the SDR would need to model loan cash flows explicitly as the loan itself may be a source of societal gain or loss. It then discusses implications for projects with long-term benefits or costs and with cross-border externalities, epitomising environmental appraisals. A case study of a forest harvesting project is also included.
{"title":"The standing of foreign lenders in cost-benefit analysis: some implications for environmental appraisals","authors":"Doramas Jorge-Calderón","doi":"10.1080/21606544.2020.1857848","DOIUrl":"https://doi.org/10.1080/21606544.2020.1857848","url":null,"abstract":"ABSTRACT International loans often finance projects with environmental benefits and costs. Cost–benefit analysis (CBA) is the default tool to determine the societal economic value of investment projects or policies producing environmental externalities. Standing in CBA concerns whose benefits and costs count in the calculation of societal value. Common practice is to grant standing only to nationals of the country hosting the policy or investment project under appraisal. Foreign lenders therefore do not stand. The social opportunity cost (SOC) approach to the social discount rate (SDR) addresses foreign loans. In the SOC approach, the SDR incorporates the opportunity cost of foreign loans associated to a marginal change in government borrowing, while foreign lenders implicitly do not stand. However, the literature has not addressed the treatment of foreign loans in appraisals following the social time preference (STP) method of discounting. This paper argues that CBA appraisals following the STP approach to the SDR would need to model loan cash flows explicitly as the loan itself may be a source of societal gain or loss. It then discusses implications for projects with long-term benefits or costs and with cross-border externalities, epitomising environmental appraisals. A case study of a forest harvesting project is also included.","PeriodicalId":44903,"journal":{"name":"Journal of Environmental Economics and Policy","volume":"10 1","pages":"261 - 277"},"PeriodicalIF":2.6,"publicationDate":"2021-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/21606544.2020.1857848","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49367350","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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