The Asian Infrastructure Investment Bank (AIIB) was established on 24 October 2014 on the basis of a Memorandum of Understanding of Establishing AIIB signed by 22 prospective founding members, including China as the largest contributing member. According to its articles of agreement, the AIIB...

This paper studies the incentives for international cooperation if (some) countries prefer a more equitable distribution of per capita emission levels. The impact of such an equity preference is analyzed first for a bilateral, and then for a multilateral environmental problem. We show that -...

Prices of commodities, including metals, energy and agricultural products, rose markedly over the 2009 - 2010 period. Some observers have attributed a significant part of this increase in commodity prices to the U.S. Federal Reserve's large-scale asset purchase (LSAP) programs. Using event-study...

This paper examines whether lax environmental policy and abundant natural resources both attract foreign direct investment (FDI). At first, their potential effects are discussed using arguments from the pollution haven hypothesis and the natural resource curse. Using cross-country Ordinary Least...

Since 2005, the public has lived with high and volatile prices for basic energy and agricultural commodities. The public focus on this unprecedented commodity price volatility has been intense, because a large proportion of the cost of living borne by individuals and families in the U.S. (and...

Food is one of the most primal ways to transmit culture and traditions and thus has vital and even cross-generational importance for us. Nevertheless, many of us have gone beyond relating to food as a primal need. So, in this age of abundance, food is either under-appreciated as epitomized by...

The development of the European social model rests on the concept of social entrepreneurship. The concept has a significant contribution to the development of the European social economy. Social entrepreneurship has a remarkable potential, through its innovative solutions, to play an...

This paper examines the relative merits of two dominant economic instruments for reducing pollution-'green' taxes and tradable permits. Theoretically, the two instruments share many similarities, and on balance, neither seems preferable to the other. In practice, however, most countries have...