on the efficiency of law a public choice perspective economists have not yet developed a comprehensive theoretical framework incorporating transaction cost economics within a public choice perspective for predicting when there will be an efficiency problem with the law transaction cost reasoning and the rent seeking insight have not been applied systematically in a dynamic institutional context to evaluate when the law will be used to increase or not minimize problems of bounded rationality and opportunism this paper takes a first step at identifying and remedying this deficiency the paper first provides a critical review of relevant theoretical contributions made by becker 1983 1985 posner 1977 priest 1977 rubin 1977 1982 williamson 1975 1985 and others we then show how analysis of the efficiency of law can be synthesized into a broader whole by incorporating transaction cost economics more fully into existing understanding of rentseeking in the political realm thus within the public choice paradigm this paper develops a deeper transaction cost analysis of the efficiency of law building on prior research by the authors crew and rowley 1988a 1988b twight 1983 1988 the paper identifies variables that position legal rules on a spectrum that ranges from those that are predominantly transaction cost

the political economy of taking and just compensation by creating an implicit right to judicial review and lowering the transaction costs a property owner must incur to challenge a taking the just compensation restriction on eminent domain limits the tendency of political decision makers to avoid the subjective costs their actions inflict on property owners and moves the level of taking closer to the social optimum its impact however is partially to completely erased by the risk aversion of the property owner and the fiscal illusion of the political decision maker unless there are additional constraints in the fiscal constitution

energy consumption and gdp in developing countries a cointegrated panel analysis in this paper we re investigate the co movement and the causality relationship between energy consumption and gdp in 18 developing countries using data for the period 1975 to 2001 recently developed tests for the panel unit root heterogeneous panel cointegration and panel based error correction models are employed the empirical results provide clear support of a long run cointegration relationship after allowing for the heterogeneous country effect the long run relationship is estimated using a full modified ols the evidence shows that long run and short run causalities run from energy consumption to gdp but not vice versa this result indicates that energy conservation may harm economic growth in developing countries regardless of being transitory or permanent

environmental kuznets curve hypothesis in pakistan cointegration and granger causality abstract the paper is an effort to fill the gap in the energy literature with a comprehensive country study of pakistan we investigate the relationship between co2 emissions energy consumption economic growth and trade openness in pakistan over the period of 1971 2009 bounds test for cointegration and granger causality approach are employed for the empirical analysis the result suggests that there exists a long run relationship among the variables and the environmental kuznets curve ekc hypothesis is supported the significant existence of ekc shows the country s effort to condense co2 emissions and indicates certain achievement of controlling environmental degradation in pakistan furthermore we find a one way causal relationship running from economic growth to co2 emissions energy consumption increases co2 emissions both in the short and long runs trade openness reduces co2 emissions in the long run but it is insignificant in the short run in addition the change of co2 emissions from short run to the long span of time is corrected by about 10 yearly

studying the relationship between economic growth co2 emissions and the environmental kuznets curve in venezuela 1980 2025 abstract this work tries to determine whether it is possible to stabilize co2 emissions under a rapid increase of gross domestic product in a medium term the paper is an effort to study in detail how changes in the driving forces of the economy affect co2 emissions we study the case of venezuela for the period 1980 2025 using the methodology proposed by robalino lopez et al 2014 2013 1 2 which is based on an extension of the kaya identity and on a gdp formation approach that includes the effect of renewable energies we test the environmental kuznets curve ekc 3 hypothesis in a coming future under different economic scenarios considering therefore not only past data but also projections for the coming years we use cointegration techniques 4 and the jaunky 2011 5 specification to test the fulfillment of the ekc hypothesis in venezuela our predictions show that venezuela does not fulfill the ekc hypothesis but however the country could be on the way to achieve environmental stabilization in the medium term this stabilization could be accomplished combining economic growth with increasing use of renewable energy appropriated changes in the energy matrix and in the productive sectoral structure

environmental kuznets curve in romania and the role of energy consumption abstract the aim of present study is to probe the dynamic relationship between economic growth energy consumption and co 2 emissions for period of 1980 2010 in case of romania in doing so ardl bounds testing approach is applied to investigate the long run cointegration between these variables our results confirm long run relationship between economic growth energy consumption and energy pollutants the empirical evidence reveals that environmental kuznets curve ekc is found both in long and short runs in romania further energy consumption is major contributor to energy pollutants democratic regime shows her significant contribution to decline co 2 emissions through effective implementation of economic policies and financial development improves environment i e reduces co 2 emissions by redirecting the resources to environment friendly projects

the renewable energy growth and environmental kuznets curve in turkey an ardl approach abstract this study examines the potential of renewable energy sources in reducing the impact of ghg emissions in turkey using autoregressive distributed lag ardl approach the relationship between co 2 emissions electricity generated using renewables and gdp in turkey has been investigated during 1961 2010 moreover the validity of environmental kuznets curve ekc hypothesis has been tested model results show that the coefficient of electricity production from renewable sources hydro power excluded with respect to co 2 emissions is negative and significant in the long run although this effect is positive and statistically significant in the short run since the ecm term is 0 82 it becomes negative around 1 year this means that renewable electricity production will contribute to environmental enhancement with a one year lag our results also suggest a u shaped ekc relationship between per capita ghgs and income estimations from a long run regression show that although the peak point of gdp per capita has been calculated to be 9920 us dollars this turning point was outside of the observed sample period therefore ghg emissions start to decrease with an increase in per capita gdp in the following years model research implies the potential and the importance of renewable energy sources in controlling of emissions in turkey

environmental efficiency of investments in renewable energy comparative analysis at macroeconomic level abstract this paper aims to bring into attention the concept of renewable energy investments efficiency and to study one of the three concepts related to it namely environmental efficiency of investments in renewable energy the analysis is undertaken at macroeconomic level for several countries in europe some of them are member states of european union and were observed over the period between 1990 and 2008 the method assumes the study of the econometric models based on kaya identity an equation widely used in studies regarding emissions trends and future emissions scenarios working with time series and cross sectional data a panel data approach is needed indicators like energy intensity co 2 intensity and gross domestic product per capita and per unit of investment are used as they establish a connection between effects and efforts a prerequisite for studying the efficiency a novelty of this research lies in the calculation of environmental efficiency index after an original method proposed by authors the findings of this analysis reveal that there are both countries with high and low environmental efficiency of investments in renewable energy

the econometrics of the environmental kuznets curve an illustration using australian co2 emissions four econometric issues associated with the estimation and testing of the environmental kuznets curve ekc are considered i model specification with respect to the order of the polynomial ii

public sector layoffs severance pay and inflation in the small open economy abstract because severance pay is worth 2 5 years of wages in many ldcs public sector layoffs increase the fiscal deficit in the short run nevertheless generous severance pay is not as serious a macroeconomic problem as generally thought in the case where the fiscal deficit is financed by printing money inflation is continuously lower under plausible conditions when the government can borrow in world capital markets and layoffs reduce the present value wage bill there exists a sequence of bond sales and subsequent redemptions that guarantees continuously lower inflation this result does not hold however if the reform lacks credibility

are developing countries really defying the embedded liberalism compact this study evaluates the embedded liberalism hypothesis in a broad swath of less developed countries ldc s the authors find that ldc governments pursue a distinct welfare state policy that protects citizens from economic insecurities associated with global market expansion specifically governments use public employment and particularly employment in civil services and administration to foster domestic stability alongside market expansion however such jobs are targeted to politically salient groups not poorer groups that might also face increased economic uncertainty postopenness in turn public employment shores up public support for openness the authors findings suggest that free traders have reasons both to celebrate and to bemoan this ldc embedded liberalism compact on the positive side ldc governments are working hard to maintain political support for free trade on the other hand the compromise of protecting privileged groups at the expense of others in society raises questions about the long term sustainability of their strategy

energy consumption and gdp causality relationship in g 7 countries and emerging markets abstract the causality relationship between energy consumption and income is a well studied topic in energy economics this paper studies the time series properties of energy consumption and gdp and reexamines the causality relationship between the two series in the top 10 emerging markets excluding china due to lack of data and g 7 countries we discover bi directional causality in argentina causality running from gdp to energy consumption in italy and korea and from energy consumption to gdp in turkey france germany and japan hence energy conservation may harm economic growth in the last four countries

carbon dioxide emissions and economic growth panel data evidence from developing countries in this paper we test the environment kuznet s curve ekc hypothesis for 43 developing countries we suggest examining the ekc hypothesis based on the short and long run income elasticities that is if the long run income elasticity is smaller than the short run income elasticity then it is evident that a country has reduced carbon dioxide emissions as its income has increased our empirical analysis based on individual countries suggests that jordan iraq kuwait yemen qatar the uae argentina mexico venezuela algeria kenya nigeria congo ghana and south africa approximately 35 per cent of the sample carbon dioxide emissions have fallen over the long run that is as these economies have grown emissions have fallen since the long run income elasticity is smaller than the short run elasticity we also examine the ekc hypothesis for panels of countries constructed on the basis of regional location using the panel cointegration and the panel long run estimation techniques we find that only for the middle eastern and south asian panels the income elasticity in the long run is smaller than the short run implying that carbon dioxide emission has fallen with a rise in income

earnings and welfare after downsizing central bank employees in ecuador this article measures the earnings and welfare losses experienced by displaced employees of the central bank of ecuador it links these losses to individual characteristics such as gender education seniority and salary in the public sector data are from a survey of displaced employees that included subjective evaluations of well being in addition to information on activity and earnings the welfare losses of separated employees are not highly correlated with their earnings losses partly because some of them especially women withdrew from the labor force after separation earnings and welfare losses also vary depending on the nature of displacement which was voluntary for roughly half the employees and involuntary for the rest overall the losses were larger for employees with less education and more seniority but not necessarily larger for employees with higher salaries however compensation for displacement was based on a rule of thumb that involved only salary and seniority and was applied across the board for those employees who left voluntarily the resulting compensation package was on average about 20 percent higher than the welfare loss the article derives the implications of these findings for the design of assistance programs for displaced workers and more specifically for the tailoring of compensation packages to their individual characteristics

an econometric study of co2 emissions energy consumption income and foreign trade in turkey abstract this study attempts to empirically examine the dynamic causal relationships between carbon emissions energy consumption income and foreign trade in the case of turkey using the time series data for the period 1960 2005 this research tests the interrelationship between the variables using the bounds testing to cointegration procedure the bounds test results indicate that there exist two forms of long run relationships between the variables in the case of first form of long run relationship carbon emissions are determined by energy consumption income and foreign trade in the case of second long run relationship income is determined by carbon emissions energy consumption and foreign trade an augmented form of granger causality analysis is conducted amongst the variables the long run relationship of co2 emissions energy consumption income and foreign trade equation is also checked for the parameter stability the empirical results suggest that income is the most significant variable in explaining the carbon emissions in turkey which is followed by energy consumption and foreign trade moreover there exists a stable carbon emissions function the results also provide important policy recommendations

energy consumption carbon dioxide emissions and economic development evaluating alternative and plausible environmental hypothesis for sustainable growth abstract pursuit of excellence in economic development in the midst of damaging the natural environment is a shameless growth the economic impacts on environmental degradation are quite visible in industrialized economies where human health is compromised by rapid economic growth and energy induced emissions this study examines the interrelationship between energy consumption economic growth and carbon dioxide co2 emissions under the six alternative and plausible hypothesis including environmental kuznets curve ekc pollution haven hypothesis phh population based emissions ipat energy led emissions sectoral growth emissions and emissions emancipated human development index ehdi in the context of low and middle income countries high income countries and in aggregated panel over the period of 1975 2015 the results supported the ekc hypothesis ipat hypothesis energy induced emissions and sectoral growth emissions in different regions of the world while phh and ehdi hypothesis does not confirm across regions this study exclusively determines the key socio economic and environmental problems in a large pool of the world economies to understand the need of development policy agenda for sustainable growth

testing the environmental kuznets curve hypothesis across the u s evidence from panel mean group estimators abstract it is widely believed that greenhouse gases contribute to a warmer climate since global warming is a serious threat and greenhouse gas emissions are one of the main causes of it analyzing the effects of economic development on environment have great importance in this study the validity of the environmental kuznets curve ekc hypothesis is tested for the 50 u s states during the 1960 2010 period using recent panel data estimators that take cross sectional dependence and slope heterogeneity into account accordingly the cross sectional dependence and slope heterogeneity robust estimators augmented mean group amg and common correlated effects mean group estimator ccemg provide mixed results the amg estimator strongly validates the ekc hypothesis asserting that the ekc holds in 30 of the 50 states with turning points for income per capita lie between 1292 and 48597 on the contrary the ccemg estimator provides only weak evidence on the ekc hypothesis and the ekc holds only in 10 states with turning points between 2457 and 14603

co2 emissions renewable energy and the environmental kuznets curve a panel cointegration approach abstract this study combines a panel cointegration analysis with a set of robustness tests to assess the short and long run impacts of renewable energy on co2 emissions as well as the kuznets environmental curve hypothesis for 25 selected african countries over the period 1980 2012 the results provide no evidence of a total validation of ekc predictions however co2 emissions are found to increase with income per capita the overall estimations strongly reveal that renewable energy with a negative effect on co2 emissions coupled with an increasing long run effect remains an efficient substitute for the conventional fossil fuelled energy nonetheless the impact of renewable energy is outweighed by primary energy consumption in both the short and long run entailing more global synergy for outpacing the environmental challenges

eminent domain power and afterwards leviathan s post taking opportunism this paper investigates post taking procedures a research area not yet fully explored it discusses the economic implications underlying the landowner s repurchase right rr which can be invoked upon the occurrence of a so called change in use after taking rr is compared with the government s discretion regarding such changes the lack of post taking accountability tends to create power ripe for abuse and rr appears to be an effective device for constraining leviathan s opportunism finally a parsimonious estimation supports that under the overriding rr regime there exists the systematic post taking opportunism whereby original public projects are changed into inappropriate projects

co2 emissions a quantitative analysis among the brics nations abstract this study aims to examine the volume of carbon dioxide co2 emissions by lag of the emissions and by the gross domestic product gdp for the brics brazil russia india china and south africa countries from 1980 to 2011 due to the heterogeneity of co2 emission among the brics countries we organized the countries into two groups in group 1 brazil and russia we identified that the main causes of the variation of co2 emission in time t are the emission of co2 in time t 1 and the annual gdp of the country in group 2 china india and south africa the findings do not depend on the income level of individual countries but only from the emission of co2 in the lag period therefore the main contribution of this study is that the environmental consequences of growing economic activity may be very mixed and must be examined on a case by case basis

renewable energy an efficient mechanism to improve gdp abstract this article analyzes the effects of renewable energy on gdp for 116 economies in 2003 through structural equation modeling sem approach in order to decipher the mechanism of how the use of renewables improves macroeconomic efficiency we decompose gdp by the expenditure approach although previous theory predicts positive effects of renewables on capital formation and trade balance the sem results show that renewables have a significant positive influence on capital formation only the result that renewables do not have a significant impact on trade balance implies that renewables do not have an import substitution effect thus we confirm the positive relationship between renewable energy and gdp through the path of increasing capital formation but not for the path of increasing trade balance

the impact of sustainable construction and knowledge management on sustainability goals a review of the venezuelan renewable energy sector the recognition of the relevance of energy especially of the renewable energies generated by the sun water wind tides modern biomass or thermal is growing significantly in the global society based on the possibility it has to improve societies quality of life to support poverty reduction and sustainable development renewable energy and mainly the energy generated by large hydropower generation projects that supply most of the renewable energy consumed by developing countries requires many technical legal financial and social complex processes sustained by innovations and valuable knowledge besides these efforts renewable energy requires a solid infrastructure to generate and distribute the energy resources needed to solve the basic needs of society this demands a proper construction performance to deliver the energy projects planned according to specifications and respecting environmental and social concerns which implies the observance of sustainable construction guidelines but construction projects are complex and demanding and frequently face time and cost overruns that may cause negative impacts on the initial planning and thus on society the renewable energy issue and the large renewable energy power generation and distribution projects are particularly significant for developing countries and for latin america in particular as this region concentrates an important hydropower potential and installed capacity using as references the performance of venezuelan large hydropower generation projects and the guri dam construction this research evaluates the tight relationship existing between sustainable construction and knowledge management and their impact to achieve sustainability goals the knowledge management processes are proposed as a basic strategy to allow learning from successes and failures obtained in previous projects and transform the enhancement opportunites into actions to improve the performance of the renewable energy power generation and distribution projects

economic growth and energy consumption the energy environmental kuznets curve for latin america and the caribbean abstract this paper investigates the relationship between economic growth and energy consumption using the hypothesis postulated for the energy environmental kuznets curve which assumes an inverted u shape relationship between income and energy consumption panel data for 22 latin american and caribbean countries for the period 1990 2011 were used absolute energy consumption was chosen as an environmental pressure indicator because energy consumption is the major contributor of emissions pollutants the results obtained in the estimations show that the hypothesis postulated for the energy environmental kuznets curve is not supported for the region on the contrary the results show an exponential growth as gross value added grows also notable differences are shown between the analyzed economies

testing the kuznets curve hypothesis for qatar a comparison between carbon dioxide and ecological footprint abstract this paper explores the validity of the environmental kuznets curve ekc using two different environment indicators the carbon dioxide emissions co2 and the ecological footprint ef in qatar over the 1980 2011 period to this end we investigate the impact of real gross domestic product rgdp the square of rgdp the energy use the financial development and the trade openness on the co2 emissions and the ef we employ the autoregressive distributed lag ardl model with the presence of unknown structural breaks in order to study short run and long run elasticity between the variables the findings infer that there is a long run relationship among the selected variables with a shift in the cointegration vector in 1991 and 2000 the empirical result indicates that the inverted u shaped hypothesis is not valid in qatar when we use the co2 emissions whereas the inverted u shaped held when using the ef furthermore the error correction results confirm that the convergence towards the long run equilibrium will mostly occur within one year after a short run shock generally the findings suggest that qatar should invest more in efficient energy and continue sustained its growth moreover more efforts are needed for diversification particularly in technology intensive and environment friendly industries to improve environmental quality

consumer supplier government triangular relations rethinking the uk policy path for carbon emissions reduction from the uk residential sector abstract the uk residential household sector is responsible for approximately 30 of total carbon dioxide emissions and is often seen as the most promising in terms of early reductions as most direct household emissions come from only two fuel sources this paper critically examines how existing emissions reduction policies for the sector shape and are shaped by relations between the three main groups of actor in this policy domain central government gas and electricity suppliers and energy users focusing on relations between three dyads government suppliers suppliers consumers and consumers government enables us to examine aspects of demand reduction that have often been overlooked to date by relations we refer to services power relationships and flows of capital and information as well as less easily defined elements such as loyalty trust and accountability the paper argues that the chosen government policy path to deliver demand reduction which heavily emphasises the suppliers role suffers from principal agent problems fails to align consumers and supplier interests toward emissions reduction and does not yet portray a lower carbon future in positive terms it suggests that more attention should be paid to government consumer relations recognising that energy consumers are also citizens

the taking of land when should compensation be paid the analysis focuses on the question of whether the payment of compensation for land taken by eminent domain is efficient when the taking decision is independent of land use zero compensation is efficient but full compensation is not when the project decision is no longer independent of land use and can be affected by investor decisions neither compensation rule is generally efficient because of the moral hazard problem with risk averse consumers and risk neutral firms the previous conclusions remain essentially unchanged however when the project decision rule involves a budgetary fiscal illusion additional compensation may be necessary to correct the incentives facing the project decision maker

are oil shocks permanent or temporary panel data evidence from crude oil and ngl production in 60 countries this paper examines the unit root properties of crude oil production for 60 countries employing a range of panel data unit root tests for the period 1971 to 2003 the study first employs a number of panel data tests that do not accommodate structural breaks and then proceeds to apply the lagrange multiplier lm panel unit root test with one structural break the results of the panel data tests without a structural break are inconclusive with at best mixed support for joint stationarity the findings from the lm panel unit root test with a structural break however are conclusive suggesting that for a world panel and smaller regional based panels crude oil and ngl production are jointly stationary

determinants of co2 emissions in a small open economy abstract the aim of the paper is to explore the relationship between economic development and carbon dioxide co2 emissions for a small open and industrialized country austria we test whether an environmental kuznets curve relationship also holds for a single country rather than concentrating on panel or cross section data for a set of countries a cubic i e n shaped relationship between gdp and co2 emissions is found to fit the data most appropriately for the period 1960 1999 and a structural break is identified in the mid seventies due to the oil price shock furthermore two variables are additionally significant import shares reflecting the well known pollution haven hypothesis and the share of the tertiary service sector of total production gdp accounting for structural changes in the economy emission projections derived from this single country specification support the widely held opinion that significant policy changes are asked for when implementing the kyoto protocol in order to bring about a downturn in future carbon emissions

the nexus of electricity consumption economic growth and co2 emissions in the brics countries abstract this study reexamines the causal link between electricity consumption economic growth and co 2 emissions in the brics countries i e brazil russia india china and south africa for the period 1990 2010 using panel causality analysis accounting for dependency and heterogeneity across countries regarding the electricity gdp nexus the empirical results support evidence on the feedback hypothesis for russia and the conservation hypothesis for south africa however a neutrality hypothesis holds for brazil india and china indicating neither electricity consumption nor economic growth is sensitive to each other in these three countries regarding the gdp co 2 emissions nexus a feedback hypothesis for russia a one way granger causality running from gdp to co 2 emissions in south africa and reverse relationship from co 2 emissions to gdp in brazil is found there is no evidence of granger causality between gdp and co 2 emissions in india and china furthermore electricity consumption is found to granger cause co 2 emissions in india while there is no granger causality between electricity consumption and co 2 emissions in brazil russia china and south africa therefore the differing results for the brics countries imply that policies cannot be uniformly implemented as they will have different effects in each of the brics countries under study

the lmdi approach to decomposition analysis a practical guide in a recent study ang energy policy 32 2004 compared various index decomposition analysis methods and concluded that the logarithmic mean divisia index method is the preferred method since the literature on the method tends to be either too technical or specific for most potential users this paper provides a practical guide that includes the general formulation process summary tables for easy reference and examples

renewable energy and macroeconomic efficiency of oecd and non oecd economies abstract this article analyzes the effects of renewable energy on the technical efficiency of 45 economies during the 2001 2002 period through data envelopment analysis dea in our dea model labor capital stock and energy consumption are the three inputs and real gdp is the single output increasing the use of renewable energy improves an economy s technical efficiency conversely increasing the input of traditional energy decreases technical efficiency compared to non oecd economies oecd economies have higher technical efficiency and a higher share of geothermal solar tide and wind fuels in renewable energy however non oecd economies have a higher share of renewable energy in their total energy supply than oecd economies

inequality in co2 emissions across countries and its relationship with income inequality a distributive approach this paper analyses the inequality in co2 emissions across countries and groups of countries and the relationship of this inequality with income inequality across countries for the period 1971 1999 the research employs the tools that are usually applied in income distribution analysis the methodology used here gives qualitative and quantitative information on some of the features of the inequalities across countries that are considered most relevant for the design and discussion of policies aimed at mitigating climate change the paper studies the relationship between co2 emissions and gdp and shows that income inequality across countries has been followed by an important inequality in the distribution of emissions this inequality has diminished mildly although the inequality in emissions across countries ordered in the increasing value of income inequality between rich and poor countries has diminished less than the simple inequality in emissions lastly the paper shows that the inequality in co2 emissions is mostly explained by the inequality between groups with different per capita income level the importance of the inequality within groups of similar per capita income is much lower and has diminished during the period especially in the low middle income group

time varying analysis of co2 emissions energy consumption and economic growth nexus statistical experience in next 11 countries this paper detects the direction of causality among carbon dioxide co2 emissions energy consumption and economic growth in next 11 countries for the period 1972 2013 changes in economic energy and environmental policies as well as regulatory and technological advancement over time cause changes in the relationship among the variables we use a novel approach i e time varying granger causality and find that economic growth is the cause of co2 emissions in bangladesh and egypt economic growth causes energy consumption in the philippines turkey and vietnam but the feedback effect exists between energy consumption and economic growth in south korea in the cases of indonesia and turkey we find the unidirectional time varying granger causality running from economic growth to co2 emissions thus validates the existence of the environmental kuznets curve hypothesis which indicates that economic growth is achievable at the minimal cost of environment the paper gives new insights for policy makers to attain sustainable economic growth while maintaining long run environmental quality

energy innovations ghg emissions nexus fresh empirical evidence from oecd countries abstract this study explores the impact of improvements in energy research development erd on greenhouse gas ghg emissions using environmental kuznets curve hypothesis for 28 oecd countries over the period of 1990 2014 in doing so we have employed a panel data where public budget in energy research development and demonstration erd d has transformed into a finite inverted v lag distribution model developed by de leeuw 1962 this model considers that energy innovation accumulates in time and presents empirical evidence how energy innovation contributes in reducing energy intensity and environmental pollution as well our results indicate that energy innovation measures require lapses of time to reach their full effect i e innovation applied to measures for environmental correction does not reach its whole effect immediately requiring instead a certain amount of time to pass innovation policies have recommended for improving environmental quality

the environmental kuznets curve semi parametrically revisited this paper re examines the existence of an environmental kuznets curve ekc across countries using a semi parametric regression estimator which places no restrictions on the functional form our results using cross country panel data on sulfur and carbon dioxide strongly suggest that the relationship between wealth and environmental degradation is not bell shaped as suggested by an ekc rather that there is a positive link for the very poorest countries and no clear relationship for richer countries

import demand of crude oil and economic growth evidence from india abstract this study establishes a long run equilibrium relationship among quantity of crude oil import income and price of the imported crude in india for the time span 1970 1971 to 2005 2006 using autoregressive distributed lag ardl bounds testing approach of cointegration empirical results show that the long term income elasticity of imported crude in india is 1 97 and there exists a unidirectional long run causality running from economic growth to crude oil import so reduction of crude oil import will not affect the future economic growth in india in the long run india should take various energy efficiency and demand side management measures in transport sector along with other measures like expanding and strengthening indigenous resource base substituting imported fuels by domestic fuels and de controlling the price of petroleum products to reduce its import dependence

carbon emissions energy consumption and economic growth an aggregate and disaggregate analysis of the indian economy abstract this study investigates the long and short run relationships among carbon emissions energy consumption and economic growth in india at the aggregated and disaggregated levels during 1971 2014 the autoregressive distributed lag model is employed for the cointegration analyses and the vector error correction model is applied to determine the direction of causality between variables results show that a long run cointegration relationship exists and that the environmental kuznets curve is validated at the aggregated and disaggregated levels furthermore energy total energy gas oil electricity and coal consumption has a positive relationship with carbon emissions and a feedback effect exists between economic growth and carbon emissions thus energy efficient technologies should be used in domestic production to mitigate carbon emissions at the aggregated and disaggregated levels the present study provides policy makers with new directions in drafting comprehensive policies with lasting impacts on the economy energy consumption and environment towards sustainable development

social capital and co2 emission output relations a panel analysis the present paper examines the mitigating effect of social capital on the environmental kuznets curve ekc for co2 emissions using a panel data of 69 developed and developing countries adopting generalised method of moments gmm estimators the paper finds evidence substantiating the presence of ekc moreover the evidence suggests that the pollution costs of economic development tend to be lower in countries with higher social capital reservoir surprisingly there is also evidence to indicate that the income threshold point beyond which co2 emissions decline is higher in countries with higher social capital these results are robust to addition of alternative controlled variables in the ekc specification thus in addition to policy focus on investments in environmentally friendly technology and on the use of renewable energy investments in social capital can also mitigate the pollution effects of economic progress

dynamic misspecification in the environmental kuznets curve evidence from co2 and so2 emissions in the united kingdom this study looks at the behaviour of emissions when in disequilibrium with respect to the environmental kuznets curve ekc relationship we use the non linear threshold cointegration and error correction methodology and a long dataset beginning in 1830 in an application to the united kingdom there is significant evidence that not only does the inverse u shape hold between per capita co 2 and so 2 emissions and gdp per capita but we also find that temporary disequilibrium from the long run ekc is corrected in an asymmetric fashion this may be due to the historical pressure of environmental regulation in the uk to reduce emissions that are higher than permitted however further analysis suggests that technological change can partially account for the asymmetric adjustment

the power to tax analytical foundations of a fiscal constitution preface 1 taxation in constitutional perspective 2 natural government a model of leviathan 3 constraints on base and rate structure 4 the taxation of commodities 5 taxation through time income taxes capital taxes and public debt 6 money creation and taxation 7 the disposition of public revenues 8 the domain of politics 9 open economy federalism and taxing authority 10 toward authentic tax reform prospects and prescriptions epilogue notes selected bibliography index

dynamic modeling of causal relationship between energy consumption co2 emissions and economic growth in india abstract the paper investigates the causality relationships among energy consumption carbon dioxide co2 emissions and income in india using a dynamic modeling approach the paper also utilises an innovation accounting method to investigate profiles of the macroeconomic variables persisting from an unanticipated shock in innovation our results provide evidence of the existence of bi directional granger causality between energy consumption and co2 emissions in the long run but neither co2 emissions nor energy consumption causes movements in real income there is no causality relationship between energy consumption and income in any direction in the long run implying that india could follow energy conservation and efficiency improvement policies without impeding economic growth this will allow india to reduce co2 emissions without affecting its economic growth and contribute significantly towards combating global warming as well

the co2 emissions income nexus evidence from rich countries the paper attempts to test the environment kuznets curve ekc hypothesis for 36 high income countries for the period 1980 2005 the test is based on the suggestion of narayan and narayan 2010 various panel data unit root and co integration tests are applied carbon dioxide co2 emissions and gdp series are integrated of order one and co integrated especially after controlling for cross sectional dependence additionally the blundell bond system generalised methods of moments gmm is employed to conduct a panel causality test in a vector error correction mechanism vecm setting unidirectional causality running from real per capita gdp to per capita co2 emissions is uncovered in both the short run and the long run the empirical analysis based on individual countries provides evidence of an ekc for greece malta oman portugal and the united kingdom however it can be observed that for the whole panel a 1 increase in gdp generates an increase of 0 68 in co2 emissions in the short run and 0 22 in the long run the lower long run income elasticity does not provide evidence of an ekc but does indicate that over time co2 emissions are stabilising in the rich countries

decomposition of co2 emissions over 1980 2003 in turkey abstract there is a multi dimensional need for studying the energy situation in turkey and to obtain insight into the development of co2 emissions on the one hand recent projections of the oecd show that turkey has a yearly gdp growth potential of over 7 on the other hand recent projections of undp and world bank indicate that the level of co2 emission is going to rise six fold by 2025 with respect to the level of emissions in 1990 it is a great challenge to both meet the growth target and keep the co2 under control thereupon this paper tries to unfold factors that explain co2 emissions by undertaking a complete decomposition analysis for turkey over the period 1980 2003 the analysis shows as is common to relatively fast growing economies that the biggest contributor to the rise in co2 emissions is the expansion of the economy scale effect the carbon intensity and the change in composition of the economy which nearly move in tandem also contribute to the rise in co2 emissions albeit at a slower rate the energy intensity of the economy which is decreasing is responsible for a modest reduction in co2 emissions hence in congruence with the scale effect a decoupling of carbon emissions and economic growth is not found in turkey over the period 1980 2003

electricity consumption from renewable and non renewable sources and economic growth evidence from latin american countries abstract this study explores the effect of renewable and non renewable electricity consumption on economic growth in 18 latin american countries to achieve the goal of this study a panel gross domestic product gdp model was constructed taking the period 1980 2010 into account from the pedroni cointegration test results it was found that renewable electricity consumption non renewable electricity consumption labor gross fixed capital formation and total trade are cointegrated moreover the panel dynamic ordinary least squares dols test results revealed that all above the mentioned variables have a long run positive effect on gdp growth in the investigated countries the vector error correction vec granger causality model results revealed the existence of feedback causality between the variables the results of the study indicated that renewable electricity consumption is more significant than non renewable electricity consumption in promoting economic growth in the investigated countries in the long run and the short run based on the results of this study it is recommended that the investigated countries should increase their investment on renewable energy projects to increase the role of electricity consumption from renewable sources in addition it is essential that these countries should reduce their non renewable electricity consumption by increasing their energy efficiency and implementing energy saving projects by applying these recommendations these countries would be able to mitigate global warming and reduce their dependency on fossil fuel to increase their energy security

global co2 efficiency country wise estimates using a stochastic cost frontier this paper examines global carbon dioxide co2 efficiency by employing a stochastic cost frontier analysis of about 170 countries in 1997 and 2007 the main contribution lies in providing a new approach to environmental efficiency estimation in which the efficiency estimates quantify the distance from the policy objective of minimum emissions we are able to examine a very large pool of nations and provide country wise efficiency estimates we estimate three econometric models corresponding with alternative interpretations of the cancun vision conference of the parties 2011 the models reveal progress in global environmental efficiency during a preceding decade the estimates indicate vast differences in efficiency levels and efficiency changes across countries the highest efficiency levels are observed in africa and europe while the lowest are clustered around china the largest efficiency gains were observed in central and eastern europe co2 efficiency also improved in the us and china the two largest emitters but their ranking in terms of co2 efficiency deteriorated policy implications are discussed

environmental degradation in france the effects of fdi financial development and energy innovations abstract this paper explores the determinants of carbon emissions in france by accounting for the significant role played by foreign direct investment fdi financial development economic growth energy consumption and energy research innovations in influencing co 2 emissions function in this endeavour we employ the novel sor shahbaz et al 2017 unit root test on french time series data over the period 1955 2016 to examine the order of integration in the presence of sharp and smooth structural breaks in the variables we also apply the bootstrapping bounds testing approach recently developed by mcnown et al 2018 to investigate the presence of cointegration and the empirical findings underscore the presence of cointegration among the time series moreover we find that fdi has a positive impact while energy research innovations have a negative impact on french carbon emissions financial development lowers carbon emissions thereby improving the french environmental quality fdi degrades the environment and thus supports the pollution haven hypothesis in france similarly financial development suggests that financial stability is a required condition for improving environmental quality so are energy research innovations contrarily energy consumption is positively linked with carbon emissions however the relationship between economic growth and co 2 emissions is an inverted u which is a validation of the environmental kuznets curve ekc

system dynamics modelling and the environmental kuznets curve in ecuador 1980 2025 abstract is it possible for a country in the process of development to comply with the environmental kuznets curve ekc hypothesis in the medium term this is the question that inspired this study this paper is an extension of a previous study focused on economic development and co2 emissions in the coming years in ecuador robalino lopez et al submitted for publication the main goal of this paper is to analyze whether the ekc hypothesis holds within the period 1980 2025 under four different scenarios this paper uses co integration techniques stock and watson 2010 to test the existence of the ekc hypothesis in ecuador in the medium term using jaunky s 2011 specification our proposal goes a step further than previous contributions and intends to see under which conditions a country could approach the fulfilment of this hypothesis in the medium term results do not support the fulfilment of the ekc nevertheless our estimations show that ecuador could be on the way to achieving environmental stabilization in the near future if economic growth is combined with an increase in the use of renewable energies an improvement of the productive sectoral structure and the use of a more efficient fossil fuel technology

assessing eco efficiency through the dea analysis and decoupling index in the latin america countries abstract this study was developed according to a two step approach in the first step we provide an investigation of the changes in eco efficiency under constant and variable return to scale while on a second step the evaluation of the decoupling elasticity will be given the impacts of energy economic and environmental determinants inputs on the performance indicators of eco efficiency were calculated as the inverse of the carbon intensity ratio of the gdp over the co2 emissions both from the world development indicators database the changes in eco efficiency and the decoupling elasticity between co2 emissions and economic growth changes data was used for 16 latin america countries according to five year periods from 1994 to 2013 for all the five time span considered it is worth noting that the degree of technical efficiency for the latin america countries is lower than the degree of technological efficiency thus indicating that a portion of the overall inefficiency is due to the fact that these countries are producing below the production frontier rather than to an inefficient use of technology on average the results have confirmed that the technological scale change in energy production is the dominant factor influencing the optimal production frontier in the sample of countries under analysis complementarily according to the mixed results from the decoupling analysis we may conclude that the increase decrease of the co2 per capita emissions was due to other economic and environmental factors rather than to a negative positive effect of the gdp growth rate

threshold cointegration and nonlinear adjustment between co2 and income the environmental kuznets curve in spain 1857 2007 abstract article history received 9 march 2011received in revised form 24 february 2012accepted 2 march 2012available online 14 march 2012jel classi cation c2q4keywords environmental kuznets curveco 2 emissionsnonlinear relationshipthreshold cointegration inthispaper wemodelthe long run relationship between per capita co 2 and per capita income for the spanisheconomy over the period 1857 2007 according to the environmental kuznets curve eck the relationshipbetween the two variables has an inverted u shape however previous studies for the spanish economy onlyconsidered the existence of linear relationships such an approach may lack exibility to detect the trueshape of the relationship our empirical methodology accounts for a possible non linear relationship throughthe use of threshold cointegration techniques our results con rm the non linearity of the link between thetwo above mentioned variables pointing to the existence of an environmental kuznets curve for the spanishcase 2012 elsevier b v all rights reserved

determinants of hourly earnings in ecuador the role of labor market regulations ecuadorian labor costs are said to be high because of the existence of many mandated benefits using the 1994 living standards measurement survey we show that the effect of these benefits is actually mitigated by a reduction of base earnings that is of the foundation on which they are paid the reduction is larger in the private than in the public sector and is negligible for unionized workers we also show that in spite of mandated benefits interindustry wage differentials are comparable to those of bolivia a country characterized by flexible labor markets but otherwise similar to ecuador

reassessing the environmental kuznets curve for co2 emissions a robustness exercise the number of studies seeking to empirically characterize the reduced form relationship between a country economic growth and the quantity of pollutants produced in the process has recently increased significantly in several cases researchers have found evidence pointing to an inverted u benvironmental kuznetsq curve in the case of co2 however the evidence is at best mixed in this paper we reconsider that evidence by assessing how robust it is when the analysis is conducted in a different parametric setup and when using alternative emissions data from the international energy agency relative to the literature our contribution can be viewed as a robustness exercise in these two respects the econometric results lead to two conclusions firstly published evidence on the ekc does not appear to depend upon the source of the data at least as far as carbon dioxide is concerned secondly when an alternative functional form is employed there is evidence of an inverted u pattern for the group of oecd countries with reasonable turning point regardless of the data set employed not so for non oecd countries as the ekc is basically increasing slowly concave according to the iea data and more bellshaped in the case of cdiac data d 2005 elsevier b v all rights reserved

temporal and spacial dynamics of bioenergy related co2 emissions and underlying forces analysis in china abstract with increasing attention on energy shortage and global warming bioenergy is a promising alternative energy to mitigate co2 emissions despite the environmental friendly potential a certain quantity of bioenergy related co2 is still emitted in china this paper investigates the temporal dynamics of bioenergy related co2 emissions in 2000 2010 in china and explores the underlying influence factors based on logarithmic mean divisia index lmdi then the core results are verified with a gis based approach from a spacial perspective the results show that four impact factors emission intensity energy structure energy efficiency and economic development have different impacts on bioenergy related co2 emissions of which economic development is the major factor contributing to its increase while energy efficiency is the major determinant for the decline per capita bioenergy related co2 emissions in different areas are verified in accordance with either economic development factor or energy efficiency factor to some extent to achieve the dual purpose of sustainable development and co2 emissions reduction this paper provides a practical policy framework for rural bioenergy and economic development

the impact of foreign direct investment on environmental quality a bounds testing and causality analysis for turkey abstract this study aims to investigate the impact of foreign direct investment fdi together with gross domestic product gdp the square of gdp and energy consumption on carbon dioxide co2 emissions in turkey over the period 1974 2010 we employ both the bounds test approach which has superior properties especially in small samples and the hatemi j test which takes structural breaks into consideration in the co integration analysis due to the co integration relationship between co2 emissions and other variables the autoregressive distributed lag ardl model is used in order to investigate short and long run elasticity between the variables the long run coefficients of the ardl model indicate that the effect of fdi on co2 emissions is positive but relatively small while the effects of the gdp and energy consumption on co2 emissions are quite considerable moreover the short run coefficients obtained by the error correction model ecm are found to be similar to those of the long run model the findings support the validity of the environmental kuznets curve ekc hypothesis in both time horizons the vector ecm based granger causality test is also applied to investigate the causal link the causality test results indicate the existence of a causality running from all explanatory variables to co2 emissions in the long run overall the findings suggest that turkey should promote energy efficiency with sustainable growth and encourage more fdi inflows particularly in technology intensive and environment friendly industries to improve environmental quality

urbanization economic growth energy consumption and co2 emissions empirical evidence from countries with different income levels abstract the growth of anthropogenic co2 emissions has been widely attributed to the combustion of energy in support of human activities associated with economic development while the link between urbanization economic growth energy consumption and co2 emissions has as a result received considerable multidisciplinary scholarly attention little work has been undertaken with respect to the how differences in the development stages or income levels of the countries studied may affect these relations here we empirically explore the link between urbanization economic development energy consumption and co2 emissions specifically taking into account the different income levels of the countries studied a series of panel data models and a balanced dataset for a panel of 170 countries were utilized in the study which took the period of 1980 2011 into consideration the result of panel cointegration tests suggested that a cointegration relationship existed between variables in all the countries studied and that a statistically significant positive relationship existed between the variables employed in the long run the results of a granger causality test based on the vector error correction model vecm provided evidence of varied granger causality relationships between the variables across the income based subpanels moreover we also undertook an impulse response and variance decomposition analysis that allowed us to forecast the impacts of economic growth urbanization and energy consumption on future co2 emissions during the period surveyed our results cast a new light on the importance of a country s development stage and income level for government policy decisions relating to the reduction of co2 emissions

competitive production and increases in risk the theory of the firm is a monumental achievement of neoclassical economics without this engine of analysis it would be difficult if not impossible to comprehend the pricing output and input decisions of firms as they respond to routine events like the imposition of a tax the opening of a new market a technical innovation and a sudden shortage of a key factor of production it is remarkable that this theory has been successful in explaining behavior that to a large extent is motivated by both profit and risk when the theory itself has only explicitly considered the profit motive this is not the place to dwell on the evolution of economic theory it suffices to note that there are many important economic phenomena that the purely deterministic theory does not explain the purpose of this note is to elucidate the way in which risk influences the output decisions of riskaverse entrepreneurs and the number of riskneutral firms in a competitive industry in both cases the predicted behavior differs from that of the deterministic theory in our study we shall restrict attention to the behavior of firms in a single period 2 setting the firm has no control over price and because storage makes no sense simply sells all of its output at the going price the source of uncertainty is the requirement that the firm produce before price is known where the price is a random variable with a known probability distribution the firm chooses output to maximize its expected utility it is well known that in the presence of uncertainty the optimal output of the risk averse firm is less than that of the riskneutral firm moreover increases in risk aversion in the sense of arrow and john pratt lead to further diminutions in output on the other hand for a fixed degree of risk aversion the change in output induced by a mean preserving increase in risk depends on the shape of the cost curve as well as the sign of the third derivative of the utility function u and the sign of the second derivative of qu q next competitive industry behavior under uncertainty is analyzed in order to isolate the effect of uncertainty firms are assumed to be risk neutral we show that both the optimal number of firms in the industry and excess capacity increase as industry output becomes riskier results like this are important for probabilistic economics for it would be unfortunate if the vitality of the stochastic theory of the firm relied solely on the controversial assumption of risk aversion 3