Despite having rich mineral and biotic resources with some of India’s most industrialized cities, Jharkhand is amongst the third poorest state in India. The rural economy is dominated by smallholder rain-fed farming and use of extensive common property resources. In this paper, an attempt is...

There is increasing empirical evidence that farmers not only decide to innovate on the basis of economic and personal considerations, but also on the context of the social interactions they maintain among themselves and with agents who promote change. The focus of this study was on how...

The aim of this article is to analyse the prospects of gold mine development at Roşia Montană, with a focus on the uncertainty regarding this process. We are specifically interested in the issues associated with cyanide spill accidents and how these uncertain events can alter the...

Die Studie erörtert Chancen und Risiken, die mit der Anwendung der Unternehmensführungsstrategie CSR (Corporate Social Responsibility) verbunden sind. Eine Vielzahl an Gefahren in CSR-aktiven Unternehmen - darunter das Risiko des Greenwashings - werden identifiziert, systematisiert und...

This paper is concerned with the classic topic of intertemporal resource economics: the optimal harvesting of renewable natural resources over time by one and several resource owners with conflicting interests. The traditional management model, dating back to Plourde (1970), is extended towards...

We build a two-sector dynamic general equilibrium model with one-sided substitutability between fossil carbon and biocarbon. One shock only, the discovery of the technology to use fossil fuels, leads to a transition from an inital pre-industrial phase to three following phases: a pure fossil...

We estimate an aggregate production function with constant elasticity of substitution between energy and a capital/labor composite using U.S. data. The implied measure of energy-saving technical change appears to respond strongly to the oil-price shocks in the 1970s and has a negative medium-run...

Oil exporters typically do not consider below-ground assets when allocating their sovereign wealth fund portfolios, and ignore above-ground assets when extracting oil. We present a unified framework for considering both. Subsoil oil should alter a fund’s portfolio through additional leverage...

Three funds are necessary to manage an oil windfall: intergenerational, liquidity and investment funds. The optimal liquidity fund is bigger if the windfall lasts longer and oil price volatility, prudence and the GDP share of oil rents are high and productivity growth is low. We apply our theory...