This paper studies the impact of the level and volatility of commodity terms of trade on economic growth, as well as on the three main growth channels: total factor productivity, physical capital accumulation, and human capital acquisition. We argue that volatility, rather than abundance per se,...

We construct a dynamic theory of civil conflict hinging on inter-ethnic trust and trade. The model economy is inhabitated by two ethnic groups. Inter-ethnic trade requires imperfectly observed bilateral investments and one group has to form beliefs on the average propensity to trade of the other...

This paper describes global biodiversity conservation as a co-operative bargaining problem. We model an interdependent ‘technology rich’ North and a ‘gene rich’ South who must co-operate in the biotechnology sector in order to combine their unique and essential resources and maximise...

Building on previous stakeholder consultations from 2006 to 2010, we conduct a financial analysis for a generic CCS power plant in China. In comparison with conventional thermal generation technologies, a coal-fired power plant with CCS requires either a 70% higher on-grid electricity tariff or...

The six Persian Gulf monarchies are home to some of the world’s largest hydrocarbon reserves, and also some of the cheapest energy prices and highest per-capita consumption. Government subsidies based on socio-political objectives have contributed to regime longevity, but they have also...

In the midst of a shortage of natural gas, Abu Dhabi has launched an investment into renewable energy. Why? Will renewables allow the Persian Gulf sheikhdom to meet rising electricity demand without simultaneous increases in conventional power? No. Even in one of the world’s sunniest places...

This paper explores whether natural resource abundance is a curse or a blessing. In order to do so, we firstly develop a theory consistent econometric model, in which we show that there is a long run relationship between real income, the investment rate, and the real value of oil production....

Demographic behaviour is influenced not just by attributes of individuals but also by characteristics of the communities in which those individuals live. A project on ‘Economy, Gender, and Social Capital in the German Demographic Transition’ is analyzing the longterm determinants of...

Presented research demonstrates the inclusion of endogenous technical change into the PAGE2002 integrated assessment model of climate change. The ‘experience curve’ or learning-by-doing concept, made popular by the Boston Consulting Group during the 1960’s provides a mechanism with which...

We consider the importance of Endogenous Technical Change (ETC) on the risk profiles for different abatement strategies using the PAGE2002 model with ETC. Three outcomes from this modelling research have significant impacts on the way we ‘optimise’ the greenhouse gas abatement path. Firstly,...