Part of the Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and the economy at large. It focuses on the specific relationship between central banking, monetary policy and the environment as central banks wake up to new realities. The book examines not only the impact of changes in interest rates on the environment, but also the impact that the environment and climate change have on monetary policy. New green policies are proposed for central banks to implement as they move forward and navigate the pitfalls of climate change. Scholars and students interested in central banking, monetary policy and the environment will appreciate this take on Central Banking, Monetary Policy and the Environment.

Economic Effects of Natural Disasters explores how natural disasters affect sources of economic growth and development. Using theoretical econometrics and real-world data, and drawing on advances in climate change economics, the book shows scholars and researchers how to use various research methods and techniques to investigate and respond to natural disasters. No other book presents empirical frameworks for the evaluation of the quality of macroeconomic research practice with a focus on climate change and natural disasters. Because many of these subjects are so large, different regions of the world use different approaches, hence this resource presents tailored economic applications and evidence.

This book compares water allocation policy in three rivers under pressure from demand, droughts and a changing climate: the Colorado, Columbia and Murray-Darling. Each river has undergone multiple decades of policy reform at the intersection of water markets and river basin governance - two prominent responses to the global water crisis often attempted and analyzed separately. Drawing on concepts and evidence about property rights and transaction costs, this book generates lessons about the factors that enable and constrain more flexible and sustainable approaches for sharing water among users and across political jurisdictions. Despite over 40 years of interest in water markets as a solution to water scarcity, they have been slow to develop. Intensified competition has also stimulated interest in river basins as the ideal unit to manage conflicts and tradeoffs across jurisdictions, but integration has proven elusive. This book investigates why progress has been slower and more uneven than expected, and it pinpoints the principles and practices associated with both successes and failures. Garrick synthesizes theoretical traditions in public policy and institutional economics, to examine the influence of path dependency and transaction costs on water allocation reform. Using evidence from historical sources, public policy analysis and institutional economics, the book demonstrates that reforms to water rights and transboundary governance arrangements must be combined and complementary to achieve lasting success at multiple scales. The original approach of this book, and its comparison of three prominent sites of reform, makes it an asset to practitioners of water policy, as well as water governance scholars and academics in public policy and economics who are focused on environmental policy, property rights and institutional change.

The Economics of Globally Shared and Public Goods responds to an urgent need to consolidate and refine the economic theories and explanations pertinent to globally shared resources. Making a clear distinction between theories and empirical models, it elucidates the problem of global public goods while incorporating insights from behavioral economics. Its comprehensive and technical review of existing theoretical models and their empirical results illuminate those models in practical applications. Relevant for economists and others working on challenges of globally shared goods such as climate change and global catastrophes, The Economics of Globally Shared and Public Goods provides a path toward greater co-operation and shared successes.

'An extremely timely book. The Paris Climate Agreement establishes a global goal on adaptation of enhancing adaptive capacity, strengthening resilience and reducing vulnerability to climate change. The book addresses the key question of how such a goal could be achieved by arguing that adaptation and resilience cannot be separated from ongoing and dynamic development processes. Its central theme is that more climate-resilient development pathways will only occur if climate risks are embedded into wider development, spatial planning, investment and poverty alleviation strategies. Although written from an economics perspective it draws on a wide range of literatures and experiences and is eminently readable. Indeed, it should be read not only by students of development and planning but also by practitioners, in both the public and private sectors, whose development choices will affect future vulnerabilities to climate change.' - Dame Judith Rees, London School of Economics, UK 'The impacts of climate change can appear remote when compared with such immediate problems as poverty, disease and economic stagnation. Yet, climate change can directly affect the achievement of many development objectives. How development occurs also has implications for the vulnerability of societies to the impacts of climate change. In providing a ''deep dive'' into the nexus between adaptation to climate change and economic development this volume makes a valuable contribution to the literature. Furthermore, it also provides timely guidance to policy practitioners on how to make climate resilient development a reality.' - Shardul Agrawala, OECD, France Some climate change is now inevitable and strategies to adapt to these changes are quickly developing. The question is particularly paramount for low-income countries, which are likely to be most affected. This timely and unique book takes an integrated look at the twin challenges of climate change and development. The book treats adaptation to climate change as an issue of climate-resilient development, rather than as a bespoke set of activities (flood defences, drought plans, and so on), combining climate and development challenges into a single strategy. It asks how the standard approaches to development need to change, and what socio-economic trends and urbanisation mean for the vulnerability of developing countries to climate risks. Combining conceptual thinking with practical policy prescriptions and experience the contributors argue that, to address these questions, climate risk has to be embedded fully into wider development strategies. This point of view is gaining in prominence in the development community; however, the contributors assert that a comprehensive analytical treatment is so far lacking. This unique and innovative book will appeal to the development community, such as think tanks and aid agencies, as well as academics and those involved in climate change policy and development. Contributors include: M. Bangalore, M. Bezabih, L. Bonzanigo, D. Castells-Quintana, H. Costa, M. del Pilar Lopez-Uribe, S. Dietz, C. Dixon, S. Fankhauser, M. Fay, J. Finnegan, G. Floater, S. Hallegatte, A. Hunt, T. Kane, S. Lovo, T. McDermott, C. McLaren, U. Narloch, J. Rozenberg, S. Surminski, D. Treguer, A. Vogt-Schilb, G. Singer, M. Waldinger, J. Ward, P. Watkiss

Only through a concerted global effort can we protect our natural resources, save our precious natural environment, and indeed our future. Pressures on our natural environment come from many directions, including overuse, mismanagement and contamination, all of which must be addressed through a range of measures as part of an international response. This much-needed book reviews and evaluates the use of market and fiscal instruments in protecting our natural resources, from rural to marine environments. The expert contributors emphasise the need to reduce greenhouse gas emissions to stem the tide of irreparable harm to our natural resources. Market instruments that are designed to protect the global atmosphere are evaluated, along with carbon instruments and environmental tax incentives. Meanwhile, consideration is given to shifting the tax burden to achieve environmentally responsible outcomes, balancing sustainable use and natural resource protection, and protecting water resources. Offering a comprehensive appraisal of market instruments and policy solutions for natural resource protection, this book is ideal for both policy makers and students and academics of environmental law, economics and sustainability. Contributors include: K. Bubna-Litic, B. Butcher, M.M. Callison, M. Cao, A.C. Cerqueira Duque, J. Cottrell, E. de Lemos Pinto Aydos, M. Dobranschi, F. Fortier, W. Gumley, M.L. Hymel, V. Johnston, C. Kettner, L. Kreiser, P. Lee, A. Lerch, D. Nerudova, S. Palassis, S. Rudolph, K. Schlegelmilch, H. Sprohge, R. Tavallali

Here finally is a book that educates us deeply about the economic costs and gains of cleaning up the environment and of finally coming to terms with the costs of human induced climate at the micro- and macro-economic level. Replete with case studies from China, Australia and the USA, demonstrating deep erudition and extensive use of empirical data, it remains accessible to the general reader, as well as the economist. It should be mandated as required reading for all public policy analysts and politicians.' - Greg Bailey, La Trobe University, AustraliaThe Costs and Benefits of Environmental Regulation presents a thorough investigation into environmental regulation, its economic and financial effects and the associated costs and benefits. A variety of issues, pertaining to regulation in general and environmental regulation in particular, are examined. These issues include the theories of regulation and how it is viewed in terms of the free market doctrine, forms of regulation, command-and-control regulation as opposed to market-based regulation and the cost-benefit analysis of environmental regulation. The authors present an extensive survey of the empirical evidence on the determinants of environmental performance as well as the effects of environmental regulation on the costs of production, plant location, firm-level productivity, stock prices and returns, profitability, market value, financial risk, employment, competitiveness, international trade, aggregate output and aggregate productivity. The authors conclude that it is essential to allocate appropriate funds to combat the environmental damage we are inflicting on the planet. Presenting a comprehensive survey of the costs, benefits and effects of environmental regulation and written mostly in simple language that is accessible to the non-specialist, the book will prove an essential resource for academics, research students and policy makers in the fields of environmental regulation and economics. Contents: Preface 1. Regulation: Definition and Classification 2. Regulation and the Free Market Doctrine 3. Theories of Regulation 4. Environmental Regulation: Some Basic Issues 5. Cost-Benefit Analysis: Identification of Costs and Benefits 6. The Cost-Benefit Analysis Debate 7. The Microeconomic Effects of Environmental Regulation 8. The Financial Effects of Environmental Regulation 9. The Macroeconomic Effects of Environmental Regulation: Employment, Trade and Competitiveness 10. The Macroeconomic Effects of Environmental Regulation: Aggregate Output and Productivity 11. Environmental Regulation in Australia: The Failure of 'Wax and Wane' Policies 12. Environmental Regulation in China: A Life-Saving Mechanism in a Pollution Haven 13. Summary and Concluding Remarks Appendix to Chapter 13 References Index

Buying and Selling the Environment: How to Design and Implement a PES Scheme provides a guide to the design and implementation of PES schemes that 'mimic' market processes, including three key elements: the estimation of the demand for environmental services, an understanding of the costs of supply, and how to predict the productivity of actions taken. This book will act as an instructional manual for practitioners, policymakers and their advisors in government and non-government organizations. Users will find a step-by-step demonstration based on firsthand experiences gained through a PES application at two case study sites. Finally, the book presents research in applied economics and bio-physical modeling.

'I joined this amazing journey about 30 years ago. I benefited from all the theories, principles, and approaches offered in this book to explore the natural resource and environmental issues on the other side of the world. It makes me an enthusiastic and pragmatic teacher and researcher. In addition to rearranging and rewriting certain chapters, the fourth edition comprises new chapters on climate change which reflect our future challenges. Such knowledge deserves continuously passing to our future generations and equipping more students as an effective doer in resolving complex natural resources issues.' - Pei-Ing Wu, National Taiwan University, TaiwanResource Economics engages students and practitioners in natural resource and environmental issues from both local and global standpoints. The Fourth edition of this approachable but rigorous text provides a new focus on risk and uncertainty as well as new applications that address the effect of new energy technologies on scarcity and climate change mitigation and adaptation, while preserving and systematically updating the approach and key features that drew many thousands of readers to the first three editions. More comprehensive than its competitors, this new edition frames issues and policies from resource scarcity and basic ecology to welfare criteria, property rights, and environmental ethics. Necessary economic, policy, and management concepts and tools are provided, along with applications to a variety of real-world problems. Also included are substantial treatments of new energy technologies, including fracking for oil and natural gas, solar and wind energy, and chapter length analyses of air quality, land markets and use, water resources, climate change, and sustainability. Primarily a textbook, this teaching tool is perfect for undergraduate and graduate students alike who are studying natural resource and environmental economics, as well as sustainability. Additionally, natural resource, environmental policy, and management decision-makers in the private and public sectors will find the content of this book useful for guiding real-world management and policy decisions. Academic, government, and NGO researchers will also find this to be a valuable resource.

Economics of the Environment, Seventh Edition is a compendium of the best, most timely articles by a dream team of environmental economists, together with an original introductory chapter by the editor. Now in its seventh edition, Economics of the Environment serves as a valuable supplement to environmental economics text books and as a stand-alone reference book of key, up-to-date readings from the field. Edited by Robert N. Stavins, the book covers the core areas of environmental economics courses as taught around the world; and the included authors are the top scholars in the field. Overall, more than half of the chapters are new to this edition while the rest have remained seminal works. This text will prove invaluable to undergraduates and graduates studying environmental economics, environmental policy, and climate change policy. Economics of the Environment will also be a vital resource to practitioners in government, private industry, and advocacy groups and other NGOs working on environmental policy. Contributors include: J. Aldy, D. Bodansky, S. Borenstein, T.A. Cameron, R. Carson, T. Covert, M. Cropper, A. Dechezlepretre, G. Eads, K. Fisher-Vanden, M. Freeman, D. Fullerton, S. Gaines, T. Gayer, T. Gerardon, M. Greenstone, C. Gollier, L. Goulder, B. Groom, R. Hahn, J. Hausman, G. Heal, S. Hoedl, K. Jack, C. Kling, C. Knittel, A. KrupnickIan Parry, E. Maskin, G. Metcalf, R. Newell, R. Noll, W. Nordhaus, S. Olmstead, D. Phaneuf, R. Pindyck, W. Pizer, P. Portney, D. Raimi, F. Reinhardt, L. Reisch, M. Russell, M. Sandel, M. Sato, R. Schmalensee, S. Shavell, J. Shogren, K. Smith, N. Stern, T. Sterner, C. Sunstein, C. Taylor, L. Taylor, R. Tol, K. Viscusi, M. Weitzman, J. Zhao

Although the world faces many environmental challenges, climate change continues to demand attention in both academic and public spheres. Innovation Addressing Climate Change Challenges explores ways in which market-based instruments and complementary policies can help countries meet their climate change goals following the Paris Agreement.In this insightful book, internationally distinguished climate change scholars have come together to examine the potential of a range of market-based instruments. These include carbon pricing, coal subsidies, vehicle taxation, government incentives for the electricity sector, and noise pollution taxes. Offering useful market-based perspectives, the book not only demonstrates the possibilities that these various instruments offer in reducing the risks of climate change, but also the challenges that exist in utilizing them. These insights will help to inform the many climate policy decisions that lie ahead.Astute and forward thinking, this timely book will be of vital importance to both students and scholars of environmental law and environmental economics with a particular focus on climate change. Political science students, as well as government officials, will also find its guidance on future policy engaging and timely.

Managing climate change requires action on both its causes (reducing emissions) and its consequences (adapting to impacts that can no longer be avoided). Human societies can thrive in many climatic conditions. However, such adaptation is not necessarily smooth, and it cannot be taken for granted. This review synthesises the contribution of economics to the study and practice of climate resilience and adaptation, identifying some of the most influential articles by economists on climate change adaptation since the topic became a subject of academic interest.

'I joined this amazing journey about 30 years ago. I benefited from all the theories, principles, and approaches offered in this book to explore the natural resource and environmental issues on the other side of the world. It makes me an enthusiastic and pragmatic teacher and researcher. In addition to rearranging and rewriting certain chapters, the fourth edition comprises new chapters on climate change which reflect our future challenges. Such knowledge deserves continuously passing to our future generations and equipping more students as an effective doer in resolving complex natural resources issues.' - Pei-Ing Wu, National Taiwan University, TaiwanResource Economics engages students and practitioners in natural resource and environmental issues from both local and global standpoints. The Fourth edition of this approachable but rigorous text provides a new focus on risk and uncertainty as well as new applications that address the effect of new energy technologies on scarcity and climate change mitigation and adaptation, while preserving and systematically updating the approach and key features that drew many thousands of readers to the first three editions. More comprehensive than its competitors, this new edition frames issues and policies from resource scarcity and basic ecology to welfare criteria, property rights, and environmental ethics. Necessary economic, policy, and management concepts and tools are provided, along with applications to a variety of real-world problems. Also included are substantial treatments of new energy technologies, including fracking for oil and natural gas, solar and wind energy, and chapter length analyses of air quality, land markets and use, water resources, climate change, and sustainability. Primarily a textbook, this teaching tool is perfect for undergraduate and graduate students alike who are studying natural resource and environmental economics, as well as sustainability. Additionally, natural resource, environmental policy, and management decision-makers in the private and public sectors will find the content of this book useful for guiding real-world management and policy decisions. Academic, government, and NGO researchers will also find this to be a valuable resource.

World economic activity is a cause of climate change and climate change has an impact on economic activity. Adaptation to climate change can occur locally, but action to reduce the extent of climate change requires global cooperation or at least coordination.Covering all aspects of the problem, this collection contains both classic and recent key published articles on this burning issue. The first section explores global trends in emissions and their drivers as well as the most important forecasts of global greenhouse gas emissions. The second section covers mitigation policy at the international level reviewing costs, benefits, and analysis of policy instruments. The final section focuses on adaptation and the roles of risk and uncertainty in responses to climate change. The extensive, authoritative introduction provided by the editors puts these contributions into context. This volume will be of interest and value to researchers and policy professionals in the areas of climate policy and environmental economics

This book studies smart green innovation through the prism of social entrepreneurship as a driver for sustainable development and the development of an environmental economy. It systematizes and analyzes the modern challenges of the environmental economy: climate change and environmental pollution. The tendencies and scenarios for the environmental economy are considered in the context of implementing the Sustainable Development Goals. Globalization and international trade are also considered factors in the sustainable development of the environmental economy.The book hones in on the international experience of ecological responsibility and fighting climate change through social entrepreneurship. The contribution of corporate responsibility in the fight against climate change is determined, and state regulation of corporate responsibility in the resource-based economies of developing countries is considered. The market mechanisms for stimulating the fight against climate change through social entrepreneurship in countries with developed environmental economies are also considered. The advantages of digitalization for fighting climate change through social entrepreneurship are offered.The book also reflects on the possibilities for the sustainable development of the environmental economy based on climate-smart innovation in social entrepreneurship. It presents a model of climate-smart enterprise and substantiates its advantages for corporate responsibility and sustainable development. The key climate-smart innovations in social entrepreneurship for sustainable development of the environmental economy—robots big data, AI, blockchain, and green finance—are determined. The book also develops policy recommendations to support climate-smart innovation in social entrepreneurship.

Hydraulic Fracturing in the Karoo: Critical Legal and Environmental Perspectives explores a broad-ranging set of questions related to proposed hydraulic fracturing or `fracking' in the Karoo. The book is multidisciplinary, with contributors including natural scientists, social scientists, and academics from the humanities, all concerned with the ways in which scientific facts and debates about fracking have been framed and given meaning. The work comprises four parts: Part 1 provides an international, legal, energy, economic, and revenue overview of the topic. Part 2 has a physio-geographic theme, with chapters on the inter-related aspects of water, geology, geo-hydrology, seismicity and biodiversity, as well as archaeological and palaeontological considerations. Part 3 focuses on public health, and sociological and humanities-related aspects, and Part 4 addresses the relevant laws, emphasising their implementation and the role of governance. The underlying theme of Hydraulic Fracturing in the Karoo: Critical Legal and Environmental Perspectives is one of caution. The book emphasises the need for collaboration between the natural and social sciences and the responsibilities of those charged with the implementation and governance of the fracking enterprise if South Africa hopes to effectively manage fracking at all.

Public understanding of, and outcry over, the dire state of the climate and environment is greater than ever before. Parties across the political spectrum claim to be climate leaders, and overt denial is on the way out. Yet when it comes to slowing the course of the climate and nature crises, despite a growing number of pledges, policies and summits, little ever seems to change. Nature is being destroyed at an unprecedented rate. We remain on course for a catastrophic 3 DegreesC of warming. What's holding us back? In this searing and insightful critique, Adrienne Buller examines the fatal biases that have shaped the response of our governing institutions to climate and environmental breakdown, and asks: are the 'solutions' being proposed really solutions? Tracing the intricate connections between financial power, economic injustice and ecological crisis, she exposes the myopic economism and market-centric thinking presently undermining a future where all life can flourish. The book examines what is wrong with mainstream climate and environmental governance, from carbon pricing and offset markets to 'green growth', the commodification of nature and the growing influence of the finance industry on environmental policy. In doing so, it exposes the self-defeating logic of a response to these challenges based on creating new opportunities for profit, and a refusal to grapple with the inequalities and injustices that have created them. Both honest and optimistic, The Value of a Whale asks us - in the face of crisis - what we really value. This book is relevant to United Nations Sustainable Development Goal 11, Sustainable cities and communities -- .

This unique book explores a wide range of environmental issues centered on the Middle-East and North Africa region, where environmental degradation and impacts of climate change are known to be more critical than in others parts of the world. Extensive country analyses are supported by references to the economic literature on regulation and incentives, and encompass recent trends in environmental management modes and policy orientations. The topical chapters include a critical review of environmental policies with a focus on economic incentives on various environmental issues including irrigation water, air pollution, solid waste management and the impact of climate change and fisheries. The book combines econometric applications, theoretical models of regulation, and policy-oriented economic analyses with fundamental recommendations for policymakers. Economic Incentives and Environmental Regulation will attract a wide spectrum of audiences including academics, researchers, practitioners, students, and policymakers. Contributors: H. Abou-Ali, M.H. Babiker, A.R. Darwish, E. Deutsch, C. Dridi, M.A. Fehaid, V.I. Grover, L. Huang, M. Jeuland, N. Khraief, A.A. Kubursi, B. Larsen, D. Maradan, U.R. Sumaila, A. Thomas, K. Zein

This important collection provides a foundational understanding of the debates surrounding urban form and the ability of land use policy to deliver the preferred urban form. Professor Mulley has selected key published articles from disciplines at the interface of urban economics and transport economics. These are grouped together within a number of themes, beginning with the contribution of central place theories developed in the early twentieth century and ending with contemporary papers providing answers to current issues of cities. Professor Mulley's insightful original introduction illuminates her choice and serves to elucidate and facilitate our understanding of urban systems and their drivers.

The current political economic system is misaligned for meeting the global imperatives of rapidly reducing greenhouse gases and sharing wealth more equitably. This book makes the case for a new environmentalism that implements a systems change approach to reorient the economy to be more sustainable, just, and democratic. This book addresses the laws and policies needed to support the emergence of a new economy across a variety of major areas - including energy, food, common pool resources, and the shifting of investments to capitalize locally-connected and mission-driven businesses. The contributors take the approach that these challenges are much broader than setting parameters around pollution, and indeed go to the heart of the dominant global political economy. The authors also explore the values needed to transform our current economic system into a new economy supportive of ecological integrity, social justice, and vibrant democracy. Law and Policy for a New Economy: Sustainable, Just, and Democratic will be of interest to academics and scholars of environmental law, climate change, environmental studies, political ecology and environmental economics. Contributors include: S.H. Baker, D. Bollier, M. James, K.B. Jones, C.I. Magallanes, J. Orsi, J. Purdy, L. Ristino, M.K. Scanlan, L. Sheehan, J.G. Speth, J. Taub, D.R.H. Winters, M.C. Wood

A major theme of this book is that, contrary to what many experts believe, being endowed with a plenitude of natural resources is not a curse: rather it provides a potential advantage, if capitalized by the well-endowed economy. Much depends on the institutions that help frame the decision-making process that affects the process of growth and development. Canada is an example of a successful export-oriented economy. And, its export-orientation has been a focal point of discussion and debate, going way back to discussions of the early fur trade, the fishing industry, wheat farming, and mining and oil and gas exploration. Unlike other economies well-endowed with natural resources, Canada does not appear to be at all cursed, but rather blessed with natural resource abundance. This book, which ranges from the late seventeenth to the early twentieth century, provides insights from Canadian economic history on how such abundance can be a handmaiden of successful growth and development. From this perspective, the natural resource curse appears to be more of a 'man-made' phenomenon than anything else. This book also investigates aspects of gender inequality in Canada as well as the evolution of hours worked as it intersects with worker preferences and 'market forces'. The narratives in this book are contextualised by the construction of new or significantly revised data sets, which speaks to the importance of data construction to robust economic analysis and economic history.

This pathbreaking book contributes to the discourse of evidence-based policy-making. It does so by combining the two issues of policy evaluation and sustainable development linking both to the policy-cycle. It covers contributions: - examining the perception of sustainability problems, which analyze the relationship between sustainability and assessment; - highlighting the role of evaluation and impact assessment studies during policy formulation; - looking at policy implementation by examining sustainability and impact assessment systems in different application areas; - addressing policy reformulation by considering monitoring and quality improvement schemes; - assessing the quality of sustainability evaluation studies. Providing theoretic insights, reflections and case studies, this novel study will prove essential to postgraduate students, practitioners, policy makers and researchers in the area of sustainable development, policy making and evaluation. Contributors: J. Bakkes, S. Boschen, K. Diehl, F.J. Dietz, I. de la Flor, C. George, A.H. Hanemaaijer, K. Helming, A. Hirschbeck, B. Hirschl, T. Kaphengst, C. Kirkpatrick, D. Knoblauch, J. Koniecki, M. Lehtonen, A. Martinuzzi, A.C.M. Meuwese, W. Meyer, A. Neumann, F. Rubik, R. Stecker, C. Stevens, R. Stockmann, K. Umpfenbach, A. von Raggamby, S. White, T. Widmer