This volume was prepared by Rahel Aichele while she was working at the ifo Institute. It was completed in December 2012 and accepted as a doctoral thesis by the Department of Economics at the University of Munich. It includes five self-contained chapters. The chapters investigate how, in a...

Considering the context of India, economic liberalization plays a major role in industrialization and environmental degradation, at the same time. India’s fossil fuel based energy-led economic growth and consequential carbon emissions are largely influenced by economic liberalization. In this...

This study investigated the impact of energy consumption and CO2 emission on GDP (gross domestic product) growth and the financial development in thirty Sub Saharan African Countries. The panel model was used in this study from the period 1980 to 2008. The results showed that energy consumption...

One of the prominent environmental problems arising within the past two decades is global warming, and hence the closely associated phenomenon of climate changes. In this context, the long run relationships and causalities among the industrial, cement and steel productions; power generation; oil...

This paper presents the results of an investigation of the causality issue of income-emission relationship based on time series econometric techniques of unit root test, co-integration and related error correction model for a panel data set. Here, the nature of causality between per capita CO2...

I use cross-country panel data to show that strengthening of private property rights protection lowers pollution emission intensity. The finding is robust to the inclusion of many controls and use of different independent variables. This paper provides preliminary empirical evidence for property...

Since the introduction of the European CO2 emissions trading system (EU ETS), the development of CO2 allowance prices is a new risk factor for enterprises taking part in this system. In this paper, we analyze how risk emerging from emissions trading can be considered in the stochastic profit and...

This article analyzes the modelling of risk premia in CO2 allowances spot and futures prices, valid for compliance under the EU Emissions Trading Scheme (EU ETS). Similarly to electricity markets, a salient characteristic of CO2 allowances is that the theory of storage does not hold, as CO2...