Increasing demand for clean energy sources is expanding investment in natural gas infrastructure around the world. Many international projects involve pipelines connecting energy markets in two or more countries. A key feature of investment taking place in Latin America is the convergence of gas...

The authors review the economic principles that should guide the efficient choice of targeted policies for environmental protection. They recommend policy instruments along three dimensions: (1) whether they use economic incentives; (2) whether they target environmental damage directly; and (3)...

Armenia meets about 75 percent of its energy needs through imports, with natural gas imports from Russia accounting for about 80 percent of total energy imports and 60 percent of total primary energy supply. Because of high dependence on imported energy, Armenia is vulnerable to external energy...

Deregulation of the U.S. natural gas industry has been under way since the late 1970s. The industry was deregulated to create competitive markets in natural gas and its pipeline transportation, in the expectation that competition would guide transactions toward a more efficient outcome. The...

The authors start from the premise that governments act as agents of the public in regulating pollution, using the instruments at their disposal. But when formal regulatory mechanisms are absent or ineffective, communities will seek other means of translating their preferences into reality....

Little evidence exists on the distribution across countries of toxic releases by manufacturing, or on how those patterns change through time. A number of studies have asked whether environmental controls imposed in the industrialized economies are diverting investments in pollution-intensive...

Risk shifting and incomplete contracting lie at the heart of the agency relationship inherent in the procurement and financing of large-scale projects such as power plants, oil and gas pipelines, and liquefied natural gas (LNG) facilities. Resolving this agency problem is critical in structuring...

Several previous studies have asked whether environmental controls imposed in the industrial economies are diverting investments in pollution-intensive activities off-shore. Broadly, these studies conclude that direct investment does not appear to be stimulated by such regulations, partly...

As is evident from public finance principles, redistribution objectives do not influence environmental policies if there are other, costless means of redistribution. How does optimal environmental protection depend on redistribution objectives? The authors develop a framework that treats air...

For almost 20 years, the Ministry of Environment of the Republic of Korea has published on a monthly basis a list of enterprises that fail to comply with national environmental laws and regulations. In this paper, the authors examine the reaction of investors to the publication of these lists...