financing, namely seigniorage and deforestation revenues. First, we develop a theoretical model emphasizing a substitution … effect between seigniorage and deforestation revenues. Second, a panel-data econometric analysis over the 1990-2010 period … confirms our findings. Consequently, a tighter monetary policy hastens deforestation. Third, we extend the theoretical model …

alleviation. At the same time, deforestation-related activities, like agricultural expansion, can be seen as relying on natural … between financial development, public spendings and deforestation. Are they substitute or complement? Our econometric analysis … shows that deforestation is positively correlated to access to credit and public spendings, which gives some evidence that …

Protected areas are increasingly used as a tool to fight against deforestation. This paper presents new evidence on the … in two steps. First, we assumed that protected areas are created to stop the negative effects of deforestation on … creation of protected areas. Our results show (i) that deforestation activities of neighboring municipalities are complements …