This paper presents a two-sector green endogenous growth model to explore a mechanism that explains why carbon-intensive capital is not necessarily shut down during transition to a green economy. Without accumulating clean capital to offset carbon emissions, a tightening of climate regulation...

Underlying the management of revenues from natural resource extraction is a set of assumptions about how abundant and how valuable these resources are. Nevertheless, existing approaches to measuring the value of extractive resources are seriously flawed. This paper proposes two avenues for...

Chapter 1- Setting the context -- Chapter 2- Managing natural resources sustainably: market and non-market comprehension -- Chapter 3- Biodiversity resources: degradation, protection, and sustainable conservation -- Chapter 4- Water resources: provision, distribution, and sustainable production...

A big challenge for the economic development of small island countries is dealing with external shocks. The Pacific Islands are vulnerable to natural disasters, climate change, commodity price changes, and uncertain donor grants. The question that arises is how should small developing countries...

Because excessive specialization can be risky, diversification matters for sustainable development. A case study of Madagascar, this paper begins by briefly discussing economic and institutional diversification and presenting a simple model of production possibilities to illuminate the possible...