the environmental kuznets curve environmental protection policy and income distribution abstract the effect of economic growth on pollution emissions differs substantially among high income countries i address this issue by analyzing public environmental policy decisions individual heterogeneity relative income effect and the political framework in which policy decisions are taken determine the emergence of the downward sloping segment of the environmental kuznets curve ekc income inequality produces a gap between the country s ability to pay for environmental protection and a country s willingness to pay i test this result by using oecd data on public r d expenditure for environmental protection the conclusion is that contrary to the ek hypothesis moments of the income distribution function other than the mean may be important for the emergence of a virtuous path of sustainable growth in high income countries

assessing income population and technology impacts on co2 emissions in canada where s the ekc abstract this study investigates the macroeconomic forces underlying carbon dioxide co2 emissions from fossil fuel use in canada in keeping with the relevant literature on environmental degradation three forces are expected to influence co2 emissions gross domestic product per capita gdp capita population and technological change while previous work has employed reduced form models that allow for non linear relationships between co2 and gdp capita it has been common practice to assume linear relationships between co2 and the latter two variables this study tests a more flexible model using a five region panel data set in canada over the period 1970 2000 findings indicate that gdp capita is unrelated to co2 that an inverted u shaped relationship exists with population and that a u shaped relationship exists with technology thus technological and population changes are supported over the commonly hypothesized environmental kuznets curve an inverted u shaped relationship between gdp capita and environmental degradation for affecting co2 emissions from fossil fuel use in canada

national industrial structure and the global system various forms of participation in the global system have been hypothesized to distort the structure of industrialization in developing countries influencing the relations between industrial capital labor and output we operationalize kuznets s 1965 theoretical definition of industrialization utilizing energy consumption per capita percent of the labor force employed in industry and percent of gdp accountedfor by industry to test several predictions about the effects of a country s involvement in the global system on the structure of its industrialization we first estimate a measurement model for 1970 that includes these three basic indicators as influenced by the latent variable of industrialization elaborations of the basic model allow us to measure the influence of the world system on the structure of industrialization types of goods imported and exported affect the structure of industrialization position in the world system and direct foreign investment have no net direct effects a marxist leninist regime has an independent influence on the structure of industrialization in some years we replicate the model using data from 196s 1980 and 1986

the impact of the london olympics announcement on property prices this study estimates the impact of the london 2012 olympics announcement on property prices using a self constructed dataset of a sample of property transactions it is estimated that properties in host boroughs are sold between 2 1 and 3 3 per cent higher depending on the definition of the impact area a similar investigation based on radius rings suggests that properties up to three miles away from the main olympic stadium sell for 5 per cent higher it is estimated that the overall impact on the price of properties in host boroughs amounts to 1 4 billion having substantial social and financial implications for existing residents

the middle class collapse and the environment abstract the thesis that unequal societies are harmful to the planet was defended by boyce 1994 in a framework based on the unequal bargaining power between rich and poor our study reinvestigates this theory by removing any reference to power in order to study the conditions under which it can still occur we show that a middle class collapse can aggravate or alleviate the burden on the planet depending on income disparities and weight of upward vs downward mobility moreover the paper shows how an appropriate environmental policy can increase the political acceptability of a social one designed for mitigating the deleterious effects of a middle class collapse through the reduction of ex post income disparities

manufacturing demand for business services in a core and peripheral region does flexible production imply vertical disintegration of business services o farrell p n moffat l a r and hitchens d m w n 1993 manufacturing demand for business services in a core and peripheral region does flexible production imply vertical disintegration of business services reg studies 27 385 400 this paper analyses the demand by manufactures in scotland and south east england for key strategic business services during the past three years the source of supply of the services used and the location of external suppliers for scottish and english manufacturers our evidence suggests that expansion of demand is the primary cause of increasing business service output and not restructuring strategies as predicted by the flexible firm model both externalization and internalization of business services are occurring simultaneously the net balance is consistent with a marginal trend towards vertical integration in manufacturing and a stronger one in business services o farrell p n moffat l a r et hitchens d m w n 1993 la demande de l industrie pour l

how renewable energy consumption lower global co2 emissions evidence from countries with different income levels significant difference in the emission renewables nexus across countries with different income levels is frequently ignored in previous studies to empirically investigate whether the effect of renewable energy consumption on carbon dioxide co2 emissions differs across countries with different income levels the emission growth renewables nexus for a global panel of 120 countries and four income based subpanels over the period 1995 2015 is examined fully considering the potential cross sectional dependence and slope heterogeneity a series of econometric techniques allowing for cross sectional dependence and slope heterogeneity is utilised cross sectional dependence and slope heterogeneity are confirmed for the global panel as well as for all four subpanels only for the global panel high income subpanel and upper middle income subpanel is the environmental kuznets curve ekc hypothesis valid renewable energy consumption has a negative effect on co2 emissions but its effect is not significant the mitigation effect may be obscured by higher economic growth and increasing non renewable energy consumption the global panel and four subpanels provide mixed directionality of causality among the variables suggesting that for various income based subpanels significant differences exist in the effect of renewable energy consumption on co2 emissions especially highlighting in various direct and indirect influencing paths between renewable energy consumption and co2 emissions

democracy financial openness and global carbon dioxide emissions heterogeneity across existing emission levels summary the determinants of co 2 emissions have attracted many researchers over the past few decades most of studies however ignore the possibility that effect of independent variables on co 2 emissions could vary throughout the co 2 emission distribution we address this issue by applying quantile regression methods we examine whether greater democracy and more financial openness consistently reduce emissions among the most and least emission nations our results show that the effect of democracy on co 2 emissions is heterogeneous across quantiles among the most emissions nations greater democracy appears to reduce emissions but more financial openness does not appear to reduce it

international portfolio choice and political instability risk a multi objective approach abstract the benefits derived from international portfolio diversification into foreign nations including the less developed countries are well documented yet this practice is discouraged due to market imperfections such as political instability in practice nations may be differentiated further by many aspects such as border controls or political and social trends which constrain private transactions and financial decisions this paper attempts to examine 1 whether the home asset bias in a portfolio holding is associated with higher political instability risk and 2 to what extent international diversification among stocks in the presence of such risk outperforms domestic stock portfolios using alternative instability risk proxies in the context of a discrete time version of mean variance framework we corroborate the impact of this type of risk on international portfolio investment decisions

financial portfolio management through the goal programming model current state of the art abstract since markowitz 1952 formulated the portfolio selection problem many researchers have developed models aggregating simultaneously several conflicting attributes such as the return on investment risk and liquidity the portfolio manager generally seeks the best combination of stocks assets that meets his her investment objectives the goal programming gp model is widely applied to finance and portfolio management the aim of this paper is to present the different variants of the gp model that have been applied to the financial portfolio selection problem from the 1970s to nowadays

a fuzzy goal programming approach to portfolio selection abstract portfolio selection is a usual multiobjective problem this paper will try to deal with the optimum portfolio for a private investor taking into account three criteria return risk and liquidity these objectives in general are not crisp from the point of view of the investor so we will deal with them in fuzzy terms the problem formulation is a goal programming g p one where the goals and the constraints are fuzzy we will apply a fuzzy g p approach to the above problem to obtain a solution then we will offer the investor help in handling the results

empirical evidence in the analysis of the environmental and energy policies of a series of industrialised nations during the period 1960 1997 using widely employed macroeconomic indicators this article underlines the main implications of the interrelations between the energy problem and that of environmental pollution using the most widely used macroeconomic indicators in the field of policy analysis in fact carbon dioxide co2 emission intensity and energy intensity trends may be used to highlight the most important features of economic development over a given time scale in a variety of different countries the empirical analysis proposed here covering a time span of some 40 years in a number of the most highly industrialised nations seems to be useful if we are to understand the main similarities and differences in the interaction between the energy choices made by different countries and their respective environmental effects moreover by using ppps it has been possible to propose a more detailed cross country analysis for the different international situations

international inequalities in per capita co2 emissions a decomposition methodology by kaya factors in this paper we provide a methodology for decomposing international inequalities in per capita co2 emissions into kaya multiplicative factors and two interaction terms we use the theil index of inequality and show that this decomposition methodology can be extended for analyzing between and within group inequality components we can thus analyze the factors behind inequalities in per capita co2 emissions across countries between groups of countries and within groups of countries the empirical illustration for international data suggests some points firstly international inequality in per capita co2 emissions is mainly attributable to inequalities in per capita income levels which helps to explain its recent reduction while differences in carbon intensity of energy and energy intensity have made a less significant contribution this result is strongly influenced by the performance of china and india secondly the between group inequality component which is the biggest component is also largely explained by the income factor thirdly the within group inequality component increased slightly during the period something mainly due to the change in the income factor and the interaction terms in a few regions

the toxic intensity of industrial production global patterns trends and trade policy this paper exploits a newly developed data set to investigate recent changes in the international distribution of industrial pollution in particular the authors examine three issues 1 the relationship between the toxic intensity of industrial production and the level of economic development 2 the impact of oecd environmental regulation on global changes in toxic intensity and 3 the relationship between trade policy and the toxic intensity of industrial production in ldc s 10 refs

property prices tax and expenditure levels and local fiscal performance where adjacent local governments provide different combinations of local expenditure and tax levels net differentials in the market value of these fiscal baskets will be capitalized into property values given sufficient data hedonic price estimation can attempt to estimate the degree of capitalization more importantly these results can provide an insight into local fiscal performance via residents evaluations both of the level of local taxes and expenditure and the way in which money is spent this methodology is developed and applied to greater manchester england employing a database of 5828 transactions in residential properties

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

the rationale of the mean standard deviation analysis skewness preference and the demand for money publisher summary this chapter discusses the rationale of the mean standard deviation analysis skewness preference and the demand for money in january 1969 issue of the review of economic studies karl borch and martin feldstein separately criticized the widely used mean variance analysis of portfolio selection borch contended that any system of upward sloping mean standard deviation e s indifference curves can be shown to be inconsistent with the basic axiom of choice under uncertainty he pointed out that one can always pick any two points on an upward sloping indifference curve to represent two bernoulli distributions with probability 1 p of gaining the same amount x in both the cases and probability p of gaining y1 in the case of one distribution and y2 in the case of the second distribution with y2 y1 if the second distribution represents the point to the northeast of the other point then by the dominance axiom the second distribution must be preferred to the first which contradicts the basic meaning of indifference curves feldstein by using a log utility function and a lognormal distribution for investment outcome showed that e s indifference curves for a risk averter need not be convex downwards though upward sloping they would change from convex to concave once the standard deviation of the outcome exceeds the mean multiplied by on the face of it this seems to suggest that risk aversion might decrease as risk is increased beyond a certain extent

economic development and co2 emissions a nonparametric panel approach we examine the empirical relation between co2 emissions per capita and gdp per capita during the period 1960 1996 using a panel of 100 countries relying on the nonparametric poolability test of baltagi et al baltagi b h hidalgo j li q 1996 a nonparametric test for poolability using panel data journal of econometrics 75 345 367 we find evidence of structural stability of the relationship we then specify a nonparametric panel data model with country specific effects estimation results show that this relationship is upward sloping nonparametric specification tests do not reject monotonicity but do reject the polynomial functional form which leads to the environmental kuznets curve in several studies

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

industrial districts old wine in new bottles harrison b 1992 industrial districts old wine in new bottles reg studies 26 469 483 according to the theory of industrial districts a new wave of economic growth is being led in a number of regions in europe north america and east asia by spatially concentrated networks of mostly small and medium sized enterprises often using flexible production technology and characterized by extensive local interfirm linkages does this amount to a re emergence of the dominance of what urban and regional economists call agglomeration economies over the well known pressures on business to spatially disperse its operations neoclassical economic theorizing from marshall to perroux provides one perspective on the contemporary industrial district phenomenon another is afforded by granovetter s more recent elaboration of the ideas of embedding under and over socialization confronting each of these theoretical approaches with the other leads me to conclude that the industrial district prototypes involv

quasi experimental evidence on the effect of aircraft noise on apartment rents inferring the implicit price of an environmental good hinges on ceteris paribus conditions that are often hard to justify this paper uses an unexpected change in flight regulations as source of exogenous variation and identifies aircraft noise effects from price adjustments in the market for rental apartments controlling for spatial and apartment heterogeneity we find that aircraft noise reduces apartment rents by about 0 5 per decibel our results indicate i that noise discounts are overestimated in cross sectional studies because aircraft noise tends to be negatively correlated with omitted neighborhood and housing amenities and ii that noise effects are unlikely to be constant over the entire noise range

external productivity and utility effects of city airports ahlfeldt g m and maennig w external productivity and utility effects of city airports regional studies this paper uses a micro level data set for residential and commercial property transactions to investigate external utility and productivity effects for three city airports in berlin germany in a spatial hedonic analysis it finds strong evidence of adverse noise effects on property prices and a discontinuity at approximately 55 db marginal price effects decrease significantly in the presence of alternative noise sources which can lead to biased estimates if the interaction effect is not accounted for appropriately given that there is less evidence of positive accessibility effects the result questions the justification for locating airports in city centres ahlfeldt g m and maennig w 55

neoclassical growth the j curve for abatement and the inverted u curve for pollution abstract this paper reexamines the neoclassical environmental growth model of forster to gain insights into the dynamic relationships among pollution abatement effort and economic development whereas the model has heretofore been used to examine steady state levels of capital consumption and environmental quality it also provides a theoretical basis for recent empirical research on j curves for abatement effort and inverted u curves for pollution

false prophet or genuine savior assessing the effects of economic openness on sustainable development 1980 99 while many herald globalization the increasing interconnectedness of national economies to be associated with rising standards of living across the globe others fear its effects on sustainability antiglobalization forces and environ mentalists view these developments as a threat to the welfare of future generations because of profligate and excessive current consumption this study is the first to estimate the effects of dependence on trade foreign direct investment fdi and an index of economic freedom on the world bank s measure of sustainability the gen uine savings rate which measures the rate at which investment in the total stock of manufactured human and natural capital exceeds its depreciation contrary to pessi mists fears our indicators of economic openness show positive effects on sustain ability results that are robust to sample size testing procedure and several alternative specifications the results support those who suggest that distorted economies tend to be both inefficient and damaging to future generations if increasing trade fdi and economic freedom are hallmarks of globalization then worries about its effects on future well being are misplaced

stoking the fires co2 emissions and economic growth abstract we examine the relationship between economic development and carbon dioxide emissions a greenhouse gas central to global warming predictions estimates derived from global panel data suggest a diminishing marginal propensity to emit mpe carbon dioxide as gdp per capita rises despite this global carbon dioxide emissions growth will continue at 1 8 percent per annum for the foreseeable future a result that is not sensitive to average output growth instead emissions growth continues because output and population will grow most rapidly in lower income nations with high mpes this latter feature emphasizes the distributional consequences of policies to reduce emissions

the instability of the adjusted and unadjusted environmental kuznets curves abstract we test the stability of the unadjusted and adjusted environmental kuznets curves ekcs our results provide evidence in favour of a theoretically funded adjusted ekc hypothesis in which the impact of per capita gdp on co 2 emissions is evaluated conditionally to the effects of the industry mix and of the energy supply infrastructure in this specification the shape of the gdp co 2 relationship appears quite sensitive to changes in the estimation period in the final part of the paper signs and dynamics of fixed effects of individual countries in different specifications are interpreted as measures of virtuous or vicious of environmental behaviour

environmental performance in socially fragmented countries social fragmentation is often associated with reduced co operative behaviour which undermines public goods provision such as environmental protection the few studies linking social fragmentation and environmental performance have been confined to using ethnic fractionalisation as the only measure of social heterogeneity in this paper we contribute to the literature in a twofold manner first we bring into the analysis alternative measures of social fragmentation i e religious fractionalisation ethnic religious polarisation that have received considerable attention in development economics in recent years second this is the first study to our knowledge that makes use of a large panel dataset of several environmental indicators to explore links between ethnic religious diversity and the environment we find that all indices of social fragmentation are negatively linked to measures of environmental quality although for some of them the size of the effect is larger in the case of polarisation

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

branch plants and the evolving spatial division of labour a study of material linkage change in the northern region of england phelps n a 1993 branch plants and the evolving spatial division of labour a study of material linkage change in the northern region of england reg studies 27 87 101 recent literature has suggested that manufacturing industry including that in peripheral regions is becoming more locally embedded as a result of processes of externalization and localized linkage formation this paper explores the hypothesis that branch plants have in terms of spatial patterns of material linkages become more locally embedded as a result of recent industrial restructuring evidence from a survey of manufacturing establishments in the northern region of england is used to explore hypotheses regarding the contribution of new greenfield investments and in situ restructuring to aggregate changes in spatial patterns of linkages the results suggests that despite processes of externalization northern region branch plants continue to be poorly integrated into the regional economy consequently it is argued that the cont

asean tigers and sustainability of energy use decomposition analysis of energy and co2 efficiency dynamics abstract this study is a comparative analysis of the development of energy intensity and co2 emission intensity in the asean countries in the years 1971 97 the reasons and driving forces behind the changes are studied in the article using a complete decomposition methodology the decomposition analysis explains energy use or co2 emissions with three different factors activity effect structural effect and intensity effect the authors provide an analysis of dynamic changes of energy consumption and co2 emission flows intensity effects on energy use and co2 emissions revealed large differences in the performance of asean countries an interesting finding of the study is that in the 1990s the intensity effects on co2 emissions in asean countries have started to increase indicating decreasing co2 efficiencies of the economies the general observation on the basis of decomposition analyses is that the phase of industrialization is increasing the energy intensity of the nations and when the increased energy demand is fulfilled with fossil fuels the co2 emissions will inevitable grow however it has to be recognized that the co2 emissions per capita in asean countries are very low except in singapore compared with many oecd countries

airport expansions and property values the case of chicago o hare airport abstract the paper adds to the empirical literature by providing up to date estimates of the effect of airport noise on property values around one of the world s busiest airports chicago o hare the results indicate that home values were about 9 lower within a 65 db noise contour band of o hare in 1997 opponents of airport expansions argue that increased noise will reduce property values and lower tax bases the results of this paper suggest that aircraft are becoming so much quieter that the airport can be expanded without causing a drop in local property values or tax bases estimates suggest that house prices may rise by as much as 284 6 million in the densely populated area around o hare after a new runway is added to the airport

portfolio selection under strict uncertainty a multi criteria methodology and its application to the frankfurt and vienna stock exchanges abstract in modern portfolio theory it is common practice to first compute the risk reward efficient frontier and then to support an individual investor in selecting a portfolio that meets his her preferences for profitability and risk potential flaws include a the assumption that past data provide sufficient evidence for predicting the future performances of the securities under consideration and b the necessity to mathematically determine or approximate the investor s utility function in this paper we propose a methodology whose initial phase filters portfolios that are inefficient from a historical perspective while this is consistent with traditional approaches the second phase differs from the standard approach as it uses a decision table constructed by considering multiple scenarios assuming strict uncertainty the table cells measure consequences by a multi criteria linear performance index of simulated future returns which avoids difficulties with performance ratios the real world applicability is illustrated through two studies based on data from the stock exchanges in frankfurt and vienna

inequality in the world polity the structure of international organization recent research reveals strong effects of involvement in international organizations on state policies but much of this research downplays inequality in world political participation and there is only a limited understanding of what explains world polity ties using data on memberships in intergovernmental and international non governmental organizations igos and ingos for 1960 through 2000 this study analyzes inequality in the world polity igo ties are fairly evenly distributed but the level of inequality in ingo ties is as high as the level of world income inequality since 1960 inequality in ties to igos decreased sharply but inequality in ties to ingos remained more stable a conflict centered model of the world polity is developed here that explains world political participation as a function of material and symbolic conflict rich core western states and societies have significantly more ties to the world polity than do others powerful states dominate igos less now than they did in 1960 but rich core western societies have grown more dominant in the ingo field

the environmental kuznets curve ekc theory part a concept causes and the co2 emissions case abstract the main purpose of this study is to capture the main features of the environmental kuznets curve ekc concept according to the ekc theory the process of economic growth is expected eventually to limit the environmental degradation created in the early stages of development the ekc concept leads many researchers from the early 1990s to assume that each economy should focus on its growth and any environmental problems will be eventually eliminated by the process of economic growth several studies attempt to test empirically the ekc hypothesis using data on many countries and examining various types of environmental degradation while other studies examine the underlying factors that may drive such a relationship this article reviews the evolution of the ekc concept and the possible causes of an ekc pattern like the distribution of income the international trade pollution haven hypothesis structural changes technical progress and improvements in energy efficiency institutions and governance and consumer preferences as co2 emissions are a pollutant with global effects several studies deal with the possible ekc pattern for co2 emissions and these studies are discussed separately the various critiques on the ekc concept are reviewed in the second article of this work

environmental kuznets curve for co2 in canada abstract according to the environmental kuznets curve hypothesis the relationship between per capita gdp and per capita pollutant emissions has an inverted u shape this implies that past a certain point economic growth may actually be profitable for environmental quality most studies on this subject are based on estimating fully parametric quadratic or cubic regression models while this is not technically wrong such an approach somewhat lacks flexibility since it may fail to detect the true shape of the relationship if it happens not to be of the specified form we use semiparametric and flexible nonlinear parametric modeling methods in an attempt to provide more robust inferences we find little evidence in favour of the environmental kuznets curve hypothesis our main results could be interpreted as indicating that the oil shock of the 1970s has had an important impact on progress towards less polluting technology and production

multiple criteria decision making combined with finance a categorized bibliographic study abstract this paper provides a categorized bibliography on the application of the techniques of multiple criteria decision making mcdm to problems and issues in finance a total of 265 references have been compiled and classified according to the methodological approaches of goal programming multiple objective programming the analytic hierarchy process etc and to the application areas of capital budgeting working capital management portfolio analysis etc the bibliography provides an overview of the literature on mcdm combined with finance shows how contributions to the area have come from all over the world facilitates access to the entirety of this heretofore fragmented literature and underscores the often multiple criterion nature of many problems in finance

internal and international migration in mexico 1995 2000 using micro data from mexico and us 2000 population censuses and following a multi choice variant of roy s 1951 model this article pools into one model the determinants of internal and international migration in mexico while paying explicit attention to the potential problem of self selection the results reveal that ignoring multiple destinations in the migration decision might lead to erroneous inferences about the determinants of migration and the type of selection after controlling for wage differences the results suggest that single adult men with low schooling levels tend to migrate to the us while married women and men with higher levels of schooling tend to migrate within mexico we also found that there are strong differences between domestic and international social networks

measuring efficiency by a single price system we propose a multi criteria model to measure the relative levels of efficiency for a set of alternatives measurement is achieved by a single price system this involves a marked difference between data envelopment analysis dea and the model herein neither the assumptions of the proposed model nor its mathematical solution are related to dea in contrast to dea the model allows for selecting a single efficiency optimum

socio economic impact assessment of large scale projects using input output analysis a case study of an airport batey p w j madden m and scholefield g 1993 socio economic impact assessment of large scale projects using input output analysis a case study of an airport reg studies 27 179 191 this paper focuses upon the methodological issues that are encountered in measuring the socio economic impacts of a large scale infrastructure investment focusing on the example of airport expansion the paper demonstrates how an appropriate impact assessment model can be developed based on the principles of extended input output analysis attention is given to the design construction application and sensitivity testing of the model at the metropolitan area level separate consideration is given to employment impacts resulting from the construction and operation of the airport batey p w j madden m et scholefield g 1993 une evaluation au moyen des tableaux d echanges intersectoriels de l impact socio economique des grands projets cas d etude d un aeroport reg studies 27 179 191 cet article porte sur

carbon intensity and economic development 1962 1991 a brief exploration of the environmental kuznets curve the relationship between national carbon dioxide emissions intensity co2 emitted per unit of gross domestic product and level of economic development has changed from essentially linear in 1962 to strongly curvilinear in 1991 the inverted u curve reached statistical significance briefly in the early 1970s and increasingly since 1982 this is the result not of groups of countries passing through stages of development but of efficiency improvements in a small number of wealthy countries combined with worse performance in poor and middle income countries the curvilinear relation is deepening and is likely to persist due to constraints on poorer countries in the world economy

politics and inequality in latin america and the caribbean this article presents the first pooled time series analysis of the impact that politics and policy have on inequality in latin america and the caribbean the authors build on models consisting of sociological and economic variables adding the strength of the democratic tradition long term legislative partisan political power distribution and social spending to explain variation in inequality they analyze an unbalanced pooled time series data set for income distribution in 18 latin american and caribbean countries from 1970 to 2000 they show that the political variables add explanatory power a strong record of democracy and a left leaning legislative partisan balance are associated with lower levels of inequality as are social security and welfare spending under democratic regimes thus they replicate some and modify other well established findings from studies of organization for economic cooperation and development oecd countries in the very different context of latin america and the caribbean

revisiting the environmental kuznets curve hypothesis evidence from the asean 5 countries with structural breaks abstractthis paper tests if the environmental kuznets curve ekc hypothesis exists for asean 5 countries in an annual sample data that covers 1971 2013 by utilizing auto regressive distributed la

foundations of portfolio theory prize lecture to the memory of alfred nobel december 7 1990 this abstract was borrowed from another version of this item

estimating country specific environmental kuznets curves from panel data a bayesian shrinkage approach designing an efficient global climate policy turns out to be a difficult yet crucial task since there are noteworthy cross country differences in energy and carbon intensities in this article the environmental kuznets curve ekc hypothesis is tested for carbon dioxide co2 emissions and as a modelling technique the iterative bayesian shrinkage procedure is employed to handle the cross country differences the results suggest that first the ekc hypothesis is rejected for 47 out of the 51 countries considered when the heterogeneity in countries energy efficiencies and cross country differences in the co2 emissions trajectories are accounted for second a classification of the results with respect to the development levels of the countries concerned reveals that the emergence of an overall inverted u shaped curve is due to the fact that in high income countries increase in gross domestic product gdp decreases emissions while in low income countries emissions and gdp are positively correlated

towards an integrated framework for development and environment policy the dynamics of environmental kuznets curves abstract environmental kuznets curves ekcs have recently received considerable attention in development and environment policy but little is known on how the interaction between ecological and economic factors may result in an ekc or other qualitatively different outcomes we introduce a restricted class of vector valued differential equations for representing the evolution of socioeconomic and environmental variables which influence or are influenced by the process of economic development our model includes not only the complete path of each variable over time but also the highly critical interactions among multiple variables we demonstrate analytically and numerically that among a multiplicity of possible outcomes an inverted u pattern can only be obtained under specific circumstances and requires attention to the multiple factors which form the economic environmental system rather than a single dominant one

income inequality development and dependence a reconsideration we reconsider the role of foreign investment in income inequality in light of recent critiques that question the results of quantitative cross national research on foreign capital penetration we analyze an unbalanced cross national data set in which countries contribute different numbers of observations with a maximum of 88 countries and 488 observations dated from 1967 to 1994 random effects regression models that control for unmeasured country heterogeneity are used to investigate effects of foreign capital penetration on inequality measured as the gini coefficient against the background of an internal developmental model of inequality we adapt firebaugh s 1992 1996 critique of the literature on the effect of foreign investment on economic growth to the study of income inequality and find that the stock of foreign direct investment has an effect on inequality that is independent of the mechanisms identified by firebaugh we explore tsai s 1995 claim that the effect of foreign capital penetration is spurious and find that foreign stock has a significant positive effect on inequality net of region specific differences an alternative interpretation of the findings of the foreign investment inequality literature is discussed in light of the discovery of an inverted u shaped relationship between income inequality and foreign investment stock per capita we conclude that thinking on the relationship between income inequality and investment dependence should be revised in light of an investment development path relating the inflow and outflow of foreign capital to economic development

the nature of co2 emission kuznets curve this paper reveals that co2 emission kuznets curve merely reflects the peak theory of energy intensity the situation of real energy use should be used as a fundamental stone for both energy and environmental policy making

path analysis of factors impacting china s co2 emission intensity viewpoint on energy abstract to explore the means of achieving carbon intensity targets in china this study empirically discusses the key factors influencing the co2 emission intensity and the causal relationships among these factors based on a path analysis using panel data six factors are included in the analysis gross domestic product gdp per capita a technology effect te energy price ep industrial structure is energy structure es and foreign direct investment fdi the study period is divided into three stages 1991 2002 2003 2014 and 1991 2014 improving t is the most significant way to decrease the emission intensity followed by fdi in each stage the effects of a ep es and fdi on the emission intensity mainly come from indirect contributions through te and is and the effects of te and is arise primarily through direct contributions improving a promotes the development of te in each stage and the adjustment of is in 1991 2002 but increases the proportion of secondary industry in 2003 2014 a rising ep negatively affects te in 2003 2014 improving the fdi promotes the development of te in each stage but is not conducive to the adjustment of is in 2003 2014

the heart kuznets curve understanding the relations between economic development and cardiac conditions abstract as countries turn wealthier some health indicators such as child mortality seem to have well defined trends however others including cardiovascular conditions do not follow clear linear patterns of change with economic development abnormal blood pressure is a serious health risk factor with consequences for population growth and longevity as well as public and private expenditure in health care and labor productivity this also increases the risk of the population in certain pandemics such as covid 19 to determine the correlation of income and blood pressure we analyzed time series for the mean systolic blood pressure sbp of men s population mmhg and nominal gross domestic product per capita gdppc for 136 countries from 1980 to 2008 using regression and statistical analysis by pearson s correlation r our study finds a trend similar to an inverted u shaped curve or a heart kuznets curve there is a positive correlation increase gdppc increase sbp in low income countries and a negative correlation in high income countries increase gdppc decrease sbp as country income rises people tend to change their diets and habits and have better access to health services and education which affects blood pressure however the latter two may not offset the rise in blood pressure until countries reach a certain income investing early in health education and preventive health care could avoid the sharp increase in blood pressure as countries develop and therefore avoiding the heart kuznets curve and its economic and human impacts

diffusion development and democracy 1800 1999 while a trend of growth in democratization over the past two centuries has been generally observed it is the remarkable growth in the democratization of the world over the past 30 years that has truly captured the imagination of social scientists policymakers and the general public alike two major sets of factors have dominated studies attempting to predict democratization one set characterizes endogenous or internal features of countries and may be referred to as socioeconomic development the other set less often tested characterizes exogenous variables that influence democratization via forces at work globally and within the region in which a country resides this set may be referred to as diffusion processes this study provides the first systematic comparison of these two sets of variables when assessed alone development indicators are robust predictors of democracy but their predictive power fades with the inclusion of diffusion variables in particular diffusion predictors of spatial pr

internalizing co2 emissions via central banks financials evidence from the world researchers and policy makers have suggested tools to mitigate co2 emissions worldwide however there appears to be uncertainty in terms of policy effectiveness the objective of this paper is to develop an innovatively effective co2 internalizing mechanism worldwide which builds on currency in circulation as its core operational tool the study is based on a large sample of countries findings show that urbanization electric power consumption and trade positively impact on co2 emissions no evidence is found in favour of the environmental kuznets curve while the use of renewable energy reduces the level of co2 emissions the paper proposes a central bank carbon dioxide emissions internalizing fund which rests on quantitative and qualitative tools to ensure a truly effective mechanism in co2 emissions abatement quantitatively this implies the use of a direct tax on currency in circulation and a conversion penalty in the fund qualitatively there is the need to establish a global institution which would ensure that funds flow to the most polluting sectors in each country in view of unleashing the strongest decline in co2 emissions

comparison of alternative utility functions in portfolio selection problems this paper examines the effect of alternative utility functions and parameter values on the optimal composition of a risky investment portfolio normally distributed assets are the setting for the theoretical and empirical analyses the results agree well with the available theory and imply utility functions and parameter values that are appropriate for investors with particular risk bearing attitudes the results give strong empirical support to the proposition that utility functions having different functional forms and parameter values but similar absolute risk aversion indices have similar optimal portfolios these results suggest that over horizons up to one year one can safely substitute convenient surrogate utility functions for other utility functions for reasons of tractability or otherwise the results also provide guidance regarding the significance of the magnitude and change of particular numerical values of the risk aversion index moreover theoretical exact results are obtained using rubinstein s measure of global risk aversion

the impact of urbanization on co2 emissions evidence from developing countries abstract this paper analyzes the impact of urbanization on co2 emissions in developing countries from 1975 to 2003 it contributes to the existing literature by examining the effect of urbanization taking into account dynamics and the presence of heterogeneity in the sample of countries the results show an inverted u shaped relationship between urbanization and co2 emissions indeed the elasticity emission urbanization is positive for low urbanization levels which is in accordance with the higher environmental impact observed in less developed regions among our contributions is the estimation of a semi parametric mixture model that allows for unknown distributional shapes and endogenously classifies countries into homogeneous groups three groups of countries are identified for which urbanization s impact differs considerably for two of the groups a threshold level is identified beyond which the emission urbanization elasticity is negative and further increases in the urbanization rate do not contribute to higher emissions however for the third group only population and affluence but not urbanization contribute to explain emissions the differential impact of urbanization on co2 emissions should therefore be taken into account in future discussions of climate change policies

state level renewable electricity policies and reductions in carbon emissions abstract a wide range of renewable electricity policies has been adopted at the state level in the united states but to date there has been no large scale empirical assessment of the effect of these policies on carbon emissions such an assessment is important because scholars have pointed out that increases in renewable electricity will not necessarily lead to declines in carbon emissions we examine the effects of a range of policies across 39 states we find significant and robust decreases in carbon emissions associated with the introduction of public benefit funds a form of carbon tax adopted by 19 states to date our aim in this paper is not to provide a final judgment on these policies many of which may not have been in place long enough to show strong effects but to shift the attention of the research community away from proximate measures such as increases in clean electricity generation and onto measurement of lower carbon emissions

income inequality democracy and public sector size this study synthesizes and tests explanations of how public sector size and democracy affect income inequality the results based on unbalanced panel data for 64 developing and developed countries

housing values census estimates disequilibrium and the environmental cost of airport noise a case study of atlanta abstract two unresolved issues about airport noise property value studies are addressed the first issue concerns the comparability of empirical results from aggregate census data vs individual sales values and the second issue concerns the homogeneity and stability of results from housing price studies over time and across markets hedonic price models from two sets of data for a residential area near the atlanta international airport are estimated at two points in time 1979 1980 and 1970 1972 the available data yield similar estimates of the noise discount over time and from the prices of individual house sales vs owner appraised census block aggregates

do countries influence neighbouring pollution a spatial analysis of the ekc for co2 emissions abstract by considering spatial relationships this study aims to analyse to what extent per capita co2 emissions are determined by renewable energy consumption the share of the services sector in gdp energy intensity and real per capita income a panel data set composed of 173 countries over the 1990 2014 period is used to estimate an environmental kuznets curve ekc augmented by neighbouring per capita income and energy intensity both standard and spatial forms are estimated for seven different sets of countries to assess the robustness of the results finally several forecasts are performed to verify global sustainability and to provide some policy suggestions for the period 2015 2100 the empirical results indicate that i most areas support the standard ekc ii there seems to be an inverted u shaped relationship between neighbouring per capita income and national per capita emissions in europe asia and the world as a whole iii neighbouring energy intensity increases national per capita emissions and iv forecasts show that economic growth will accelerate climate change however a steady annual growth in renewable energy consumption and a steady decrease in energy intensity both close to 2 5 may guarantee environmental sustainability prior to 2100

distribution dynamics of co2 emissions this paper uses nonparametric methods to examine the convergence in co2 emissions per capita on a sample of 100 countries for the period 1966 1996 industrial countries show a convergence pattern however there is little evidence of convergence for the whole sample

on impatience economic growth and the environmental kuznets curve a dynamic analysis of resource management the paper presents a dynamic analysis of natural resource management and investigates some key factors that affect optimal management and resource conservation using a recursive specification of time preferences we show how endogenous discounting and impatience can affect the motivation for both capital investments and environmental preservation we examine the relationships between economic growth and environmental quality endogenous discounting provides new insights in the economic dynamics underlying the environmental kuznets curve by treating growth as endogenous we examine how externalities and economic growth interact with each other we investigate how economic development can contribute to an increased demand for environmental preservation as an important new result we also show how poverty can contribute to environmental degradation

regional differences in the dynamic linkage between co2 emissions sectoral output and economic growth environmental degradation measured by co2 emissions is a significant challenge to sustainable economic development owing to significant differences in the empirical relationship between the economic growth and co2 emissions and policies adopted by different countries to overcome the challenge are not decisive this study aims to generalize our knowledge about the relationship between co2 emissions per capita and economic growth across the world for 1980 2009 periods besides it explores whether the transformation of different economies e g agrarian to industrial and industrial to sophisticated service economy over the past few decades yielded any significant positive impact towards sustainable economic development by reducing the level of co2 emission empirical results suggest that i except for high income countries environmental kuznets curve ekc is a general phenomenon across the world and ii the transformation of different economies towards a service economy has produced more pollution in high income countries and less pollution in low and middle income countries

supply chains material linkage and regional development the importance of economic linkage to regional development has been implicit in the variety of approaches that have been taken to analysing the development process despite this no mechanism exists which allows a general assessment of regional supply networks the paper provides one approach to this type of evaluation in uk regions focusing on the north west of england and taking uk input output tables as the basis of analysis sectoral linkages with supply potential are identified and their magnitude estimated the paper reveals both the scope for extending material linkages and generating employment in this region of the uk as well as confirming the important role played by manufacturing industries in intermediate supply chains

noise versus access the impact of an airport in an urban property market the effects of a major airport are unlikely to exhibit a uniform spatial distribution the benefits to industries and individual households may extend well beyond the local economy whereas many of the costs are spatially concentrated in the immediate environment in particular the problems of noise and traffic generation can be expected to fall principally upon adjacent populations this paper addresses the general question of whether the costs to local economies of airport proximity which are in the nature of externalities outweigh the benefits of access employment and improved infrastructure based on data relating to manchester airport and its surrounding areas the specific approach adopted in the paper involves an investigation of the extent to which such proximity effects are capitalised into residential property prices our results provide some evidence to suggest that circumstances may exist where positive attributes such as improved access and employment opportunities may be more highly va

intercity relations and globalisation the evolution of the global urban hierarchy 1981 2007 how is the world city system changing in the context of globalisation this question is addressed using data on the headquarter and branch locations of the world s 500 largest multinationals the paper employs techniques developed for the analysis of networks to evaluate the more than 6300 cities that are linked together by such firms in terms of their point centrality and using blockmodelling techniques in terms of the positions they occupy and roles that they play in the system the analysis indicates that the world city system is in the midst of substantial restructuring and that it is changing in such a way as to concentrate power in a small number of cities however in contrast to some accounts support is not found for the idea that globalisation is generating a new geography of inequality at the level of intercity relations