Nationally implemented protected area measures for biodiversity conservation generate cross-border externalities. For internalizing these externalities at the international level, the Global Environment Facility (GEF) has been established as a multilateral mechanism of transfer. This paper...

Biodiversity can sometimes only be preserved if natural habitats are excluded from human uses. Such protection measures generate positive externalities at the global scale. This holds especially for protection in developing countries that host great parts of global biodiversity. For...

Ocean acidification is increasingly recognized as a major global problem. Yet economic assessments of its effects are currently almost absent. Unlike most other marine organisms, mollusks, which have significant commercial value worldwide, have relatively solid scientific evidence of biological...

The development of the agricultural sector and the improvement of the food security situation are seen as essential components to sustainable development in Africa. However, continuing population growth, impacts of climate change and environmental degradation add to an unprecedented combination...

In response to the world economic crisis, the international community should promote a mix of policies to sustain global recovery and create jobs through reducing carbon dependency, ecological degradation and poverty. Such a Global Green New Deal (GGND) requires implementation and coordination...

This paper examines the resource curse and its transmission channels by resource type. We review and synthesize existing theories of the transmission channels of the curse. This synthesis suggests that (1) relating the transmission channels to the characteristics of different types of resources,...

This paper provides a model-based assessment of local and global climate change impacts for the case of Yemen, focusing on agricultural production, household incomes and food security. Global climate change is mainly transmitted through rising world food prices. Our simulation results suggest...

We estimate the impact of climate change on agricultural production in a panel of 127 countries from 1961 to 2002. In contrast to the existing literature we account for cross-sectional dependence and technology heterogeneity. We find no significant impact of climate change on agricultural...

This paper introduces the concept of homogeneous non-causality in heterogeneous panels. This concept is used to examine a panel of data for evidence of a causal relationship between GDP and carbon emissions. The technique is compared to the standard test for homogeneous non-causality in...

Banks should evaluate whether a borrower is likely to default. The author applies several techniques in the extensive mathematical literature of stochastic optimal control/dynamic programming to derive an optimal debt in an environment where there are risks on both the asset and liabilities...