We examine Africa's increasing reliance on hydropower in light of climate change induced variations in rainfall and the potential power outages that may result. We use a continent wide riverflow material model and IPPC climate change scenarios and show that current plans for African dam building...

A popular explanation for China's rapid economic growth in recent years has been the dramatic increase in the number of private domestic and foreign-owned firms and a decline in the state-owned sector. However, recent evidence suggest that China's state-owned enterprise (SOEs) are in fact...

In recent years there has been a dramatic increase in the number of firms shifting stages of their production processes overseas. In this paper we investigate whether firms outsource the dirtier stages of production to minimise domestic environmental regulation costs—a process broadly...

A model is developed for pricing volatility derivatives, such as variance swaps and volatility swaps under a continuous-time Markov-modulated version of the stochastic volatility (SV) model developed by Heston. In particular, it is supposed that the parameters of this version of Heston's SV...

The economic performance and a related discussion on the existence, or otherwise, of racial discrimination in the UK labour market for migrants and ethnic minorities are of great interest to policymakers. In this paper we investigate the concept of occupational clustering as an explanation for...