This paper builds on the assumption that OECD countries are (or will soon be) taking actions to reduce their greenhouse gas emissions. These actions, however, will not be sufficient to control global warming, unless developing countries also get involved in the cooperative effort to reduce GHG emissions. This paper investigates the best short-term strategies that emerging economies can adopt in...

This study investigates the relationships among pollutant emissions, energy consumption and economic development in China during the period 1982-2007 by using one-step GMM-system model under multivariable panel VAR framework, controlling for capital stock and labor force. Regarding the data for all 28 provinces as a whole, we find that there is a unidirectional positive relationship running fro...

China’s economic ascendance over the past two decades has generated ripple effects in the world economy. Its search for natural resources to satisfy the demands of industrialization has led it to Sub-Saharan Africa. Trade between China and Africa in 2006 totaled more than $50 billion, with Chinese companies importing oil from Angola and Sudan, timber from Central Africa, and copper from Zambia....

This paper proposes to investigate the impact of …nancialization on energy markets (oil, gas, coal and electricity European forward prices) during both normal times and extreme ‡uctuation periods through an original behavioral and emotional approach. To this aim, we propose a new theoretical and empirical framework based on a heterogeneous agents model in which fundamentalists and chartists co-...

This study complements existing literature by examining the nexus between energy consumption (EC), CO2 emissions (CE) and economic growth (GDP) in 24 African countries using a panel ARDL approach. The following findings are established. First, there is a long run relationship between EC, CE and GDP. Second, a long term effect from CE to GDP and EC is apparent, with reciprocal paths. Third, the ...

Around the turn of the year 2005/2006, the Russian freezing of natural gas exports to the Ukraine led to a European gas crisis. Using event study techniques, we first investigate whether the Russian suspension of gas deliveries, the announcement of this suspension as well as its withdrawal had an effect on unsystematic volatility of European energy stocks. Second, we measure event effects on st...

F Forecasting the path of China’s CO2 emissions using provincelevel information Maximilian Auffhammer , Richard T. Carson Department of Agricultural and Resource Economics, 207 Giannini Hall, University of California, Berkeley, CA 94720-3310, USA University of California, San Diego, USA Received 31 December 2006 O CT ED P RO Abstract Our results suggest that the anticipated path of China’s carb...

This paper uses the WITCH model, a computable general equilibrium model with endogenous technological change, to explore the impact of various climate policies on energy technology choices and the costs of stabilising greenhouse gas concentrations. Current and future expected carbon prices appear to have powerful effects on R&D spending and clean technology diffusion. Their impact on stabilisat...

The formulation of market equilibrium problems as mixed complementarity problems (MCP) permits integration of bottom-up programming models of the energy system into top-down general equilibrium models of the overall economy. Despite the coherence and logical appeal of the integrated MCP approach, implementation cost and dimensionality both impose limitations on its practical application. A comp...

This research takes the analysis of the relationship between energy and income in a different direction than prior research, and it introduces a new set of analytical tools to the area. The results of our research are important because they raise additional questions about the effectiveness of income as a proxy indicator for standard of living, and these conclusions are supported by the use of ...