Markets and Growth

This paper studies key markets (financial, labor, natural resource, and product) to assess how they are facilitating or constraining growth. First, we draw on the body of existing theoretical and empirical literature to discuss the links between markets and growth. Second, we present four stylized scenarios of the process of growth, which summarize market infrastructure and efficient factor reallocation in response to shocks appear to be among the most important growth determinants. We highlight the relative lack of research on the relationship between labor markets and growth, as opposed to the relationship between human capital production and growth. Finally, we combine suggestions of Topel (1999) and Pritchett (2000) to argue that country-specific markets should be a principal focus of future research on growth. This paper provides a framework for such studies.http://deepblue.lib.umich.edu/bitstream/2027.42/39766/3/wp382.pd

Institutions, Firms and Economic Growth

This paper reviews the literature on institutions and explores the ways in which institutions can influence economic growth, with a particular focus on how institutions affect the use that firms make of human capital to improve their productivity. It discusses the influence of underlying institutions, such as law and order and secure property rights, on the general environment within which the economic activities of production and exchange takes place. It also explores the influence of activity-specific institutions, such as labour market institutions, on firm decisions about resource use and innovation and through these on economic activity and economic growth.institutions; human capital; regulation; norms; firms; economic growth; New Zealand

Markets and Growth

This paper studies key markets (financial, labor, natural resource, and product) to assess how they are facilitating or constraining growth. First, we draw on the body of existing theoretical and empirical literature to discuss the links between markets and growth. Second, we present four stylized scenarios of the process of growth, which summarize market infrastructure and efficient factor reallocation in response to shocks appear to be among the most important growth determinants. We highlight the relative lack of research on the relationship between labor markets and growth, as opposed to the relationship between human capital production and growth. Finally, we combine suggestions of Topel (1999) and Pritchett (2000) to argue that country-specific markets should be a principal focus of future research on growth. This paper provides a framework for such studies.

Shaping the Global Arena: Preparing the EU Emissions Trading Scheme for the post-2012 Period. CEPS Task Force Reports No. 61, 6 March 2007

Having been underway for more than two years, the review of the EU Emissions Trading Scheme (EU ETS) is entering a decisive phase with the European Commission’s recent announcement that it will table formal proposals in the second half of 2007. Based on an assessment of the EU ETS, this new CEPS Task Force Report tests the performance of four different design models (a cap-and-trade system based on free allocation, benchmarks, auctioning and a credit-and-baseline system) against 10 criteria under three headings: environmental effectiveness, economic efficiency and the contribution of the ETS to achieving long-term climate change policy objectives. Based on this assessment, the report makes a number of recommendations in the area of allocation, creation of investment incentives and the merits of including new sectors and new gases. The report also addresses the particular challenge of completing the EU ETS review before a global post-2012 agreement can be reached, i.e. the EU ETS will be reviewed against an unknown global context

Brazil's sugarcane sector : a case of lost opportunity

The Brazilian sugar and ethanol story goes like this: direct market intervention overrides market forces. Markets undergo dramatic change. Intervention establishes vested interests. Rent-seeking blocks adjustment to market change. Economic objectives become blurred behind political objectives. Opportunities go begging. Industry profitability suffers. And national income is forgone. The authors use a simple economic model of the Brazilian sugarcane sector and policy interventions to measure the costs of existing policies and to develop better policies. Brazil is an efficient producer of sugar, but policy intervention has caused: (a) underproduction of sugar cane (too much ethanol, not enough sugar); (b) missed opportunities to market ethanol in high-value uses (as an octane enhancer and clean fuel); (c)missed opportunities to make the world sugar market more competitive. Adopting more market-based policies could be worth billions of additional dollars annually to Brazil.Environmental Economics&Policies,Crops&Crop Management Systems,Economic Theory&Research,Transport and Environment,Access to Markets

EVEREST IST - 2002 - 00185 : D23 : final report

Deliverable públic del projecte europeu EVERESTThis deliverable constitutes the final report of the project IST-2002-001858 EVEREST. After its successful completion, the project presents this document that firstly summarizes the context, goal and the approach objective of the project. Then it presents a concise summary of the major goals and results, as well as highlights the most valuable lessons derived form the project work. A list of deliverables and publications is included in the annex.Postprint (published version

Meeting the Mandate for Biofuels: Implications for Land Use and Food and Fuel Prices

Biofuels have been promoted to achieve energy security and as a solution to mitigating climate change. This research presents a framework to examine the extent to which biofuel mandates and subsidies reduce gasoline consumption and their implications for the food and fuel prices. A dynamic, multi-market equilibrium model, Biofuel and Environmental Policy Analysis Model (BEPAM), is used to estimate the effects of these policies on cropland usage between food crops and fuel crops and food and fuel prices, and to analyze the incentives provided by alternative policies for the mix of biofuels from corn and various cellulosic feedstocks that are economically viable over the 2007-2022 period. The provision of biofuel subsidies that accompany the mandate under the Renewable Fuel Standard (RFS) is found to significantly change this mix in favor of cellulosic biofuels produced from high yielding grasses and reduce the adverse impact of the RFS alone on food prices.Land Economics/Use, Resource /Energy Economics and Policy,

Instrument Choice in Environmental Policy

We examine the extent to which various environmental policy instruments meet major evaluation criteria, including cost-effectiveness, distributional equity, minimization of risk in the presence of uncertainty, and political feasibility. Instruments considered include emissions taxes, tradable emissions allowances, subsidies for emissions reductions, performance standards, technology mandates, and research and development subsidies. Several themes emerge. First, no single instrument is clearly superior along all the criteria. Second, significant trade-offs arise in the choice of instrument; for example, assuring a reasonable degree of distributional equity often will require a sacrifice of cost-effectiveness. Third, it is possible and sometimes desirable to design hybrid instruments that combine features of various instruments in their “pure” form. Fourth, for many pollution problems, more than one market failure may be involved, which may justify (on efficiency grounds, at least) employing more than one instrument. Finally, potential overlaps and undesirable interactions among environmental policy instruments are sometimes a matter of concern.emissions control instruments, cost-effectiveness, distributional burden, induced innovation

E-Fulfillment and Multi-Channel Distribution – A Review

This review addresses the specific supply chain management issues of Internet fulfillment in a multi-channel environment. It provides a systematic overview of managerial planning tasks and reviews corresponding quantitative models. In this way, we aim to enhance the understanding of multi-channel e-fulfillment and to identify gaps between relevant managerial issues and academic literature, thereby indicating directions for future research. One of the recurrent patterns in today’s e-commerce operations is the combination of ‘bricks-and-clicks’, the integration of e-fulfillment into a portfolio of multiple alternative distribution channels. From a supply chain management perspective, multi-channel distribution provides opportunities for serving different customer segments, creating synergies, and exploiting economies of scale. However, in order to successfully exploit these opportunities companies need to master novel challenges. In particular, the design of a multi-channel distribution system requires a constant trade-off between process integration and separation across multiple channels. In addition, sales and operations decisions are ever more tightly intertwined as delivery and after-sales services are becoming key components of the product offering.Distribution;E-fulfillment;Literature Review;Online Retailing