This paper studies the consequences of certain widespread policies for the quality and sustainability of growth. These policies cause economic inefficiency, environmental destruction and increased poverty. The paper develops a political economy model to show why the existence of such policies is...

This paper explores the link between poverty and resource allocation, including the management of natural resources, by chronically indebted rural smallholders in developing countries. The paper proposes a formal intertemporal model of a credit constrained farm household that can invest in...

This paper focuses on the interactions between local communities having at least some degree of informal claims over natural resources and external agents, particularly firms interested in commercial resource exploitation. The paper makes three contributions to the existing literature. First,...

We generalize endogenous growth models, which often assume a closed-economy, toallow for international borrowing and lending. We incorporate a prominent feature of globalfinancial markets, that the marginal cost of borrowing facing a small open economy is dependent on the country risk as...

Commodity price increases associated with the entry of China, India and other countries into the world economy has led to increased pressure on common-property renewable natural resources (NR). The problem is particularly worrisome for economies that obtain a large share of their income from the...

Intense climate-related disasters - floods, storms, droughts, and heat waves - have been on the rise worldwide. At the same time and coupled with an increasing concentration of greenhouse gases in the atmosphere, temperatures, on average, have been rising, and are becoming more variable and more...