To help explain the common failure of oil or other natural resource exporting countries to diversify into industry, it has been common to trace this failure to real exchange rate appreciation. This has also been done in Azerbaijan. However, because Azerbaijan has devoted so much of its oil...

In the context of the recent slump in global oil prices, the paper investigates the effect of oil price shocks on the economic performance of 51 individual OECD and OPEC economies. We propose an error correction model which allows us to differentiate between short- and longrun price effects. For...

Inside a standard growth model with exhaustible resources, we study the optimal growth policy of an economy submitted to a climate constraint, taking the form of a ceiling over admissible atmospheric carbon concentrations. The optimal scenario is a three phases path: a rise of carbon...

This paper studies the dynamic effect of oil rents on industrial added value in a sample of countries with different levels of development. Using a SVAR model, we tested the effect of a real shock and a nominal shock on the variables of the model. The main obtained results are three. First, we...

We study optimal carbon capture and storage (CCS), taking into account damages incurred from the accumulation of carbon in the atmosphere and exhaustibility of fossil fuel reserves. High carbon concentrations call for full CCS. We identify conditions under which partial or no CCS is optimal. In...

One of the main elements of economic sanctions against Iran due to its nuclear and military programs is crude oil exportation restrictions in addition to investment in Iranian energy related projects. Senders of such sanction are interested in understanding the impacts of such embargos on...

Starting from the crisis on the real economy in 2008 it has been developed an intense discussion, supported by a number of declarations on the global scale, about the need for changes in the economy. A huge impact on this state of affairs was the analysis of the causes and effects of the...

The paper aims at investigating the dependency of the Russian economy on natural resources, underlining the causes and the possible consequences of this growth strategy. The analysis tries to evaluate if the Russian manufacturing has contracted the "Dutch Disease", that is, if a boom in the oil...

Nowadays the Bolivian energy-mix is misbalanced due to the primary production of energy, which is focused in gaseous hydrocarbons, whereas the consumption is intensive in liquid hydrocarbons. At the same time the Bolivian electric system is mainly thermo, while the country present high hydro...

Celem artykułu jest próba systematyzacji ekonomicznych skutków eksploatacji gazu łupkowego, a także omówienie różnorodnych podejść metodycznych i narzędzi stosowanych w analizach dotyczących tego zagadnienia. Podstawą analizy jest przegląd literatury przedmiotu, dokonywany pod...