Institutional quality,financial development and sustainable economic growth among lower income countries

This article postulates strong endogenous relationships in lower income countries between institutional quality, financial development and sustained economic growth. These associations were investigated using the vector-error correction model (VECM) and Granger causality method for a sample of 79 countries from 2005 to 2022. The findings show that (1) these variables reinforce each other in the short run. (2) In the long run, both institutional quality and financial development can fuel economic growth. (3) The positive effect of institutional quality on economic growth is greater than that of financial development. Policy implications of these findings are that careful attention should be paid to co-development policies to enhance the institutional quality and the financial system in these economies. Policies should also consider economic growth strategies to enable sustainable economic growth rates.     

An experimental investigation of explanations for inconsistencies in responses to second offers in double referenda

This paper demonstrates the potential for induced preference experiments to test previously unverified explanations of observed behavior in contingent valuation surveys. The NOAA Panel on Contingent Valuation called for experimental evidence on potential biases in the double referendum format. We test Carson, Groves, and Machina's (Incentives and informational properties of preference questions, Plenary address to the European Association of Resource and Environmental Economists, Oslo, Norway, June 1999) simple cost uncertainty and weighted averaging explanations of inconsistent responses to follow-up offers in such double referenda against a baseline of certainty and truthful preference revelation. The results find evidence to support the Weighted Average hypothesis. Results regarding the cost uncertainty hypothesis are more ambiguous and merit further investigation.     

中国农村贫困地区可持续发展的制度分析

中目农村贫困地区可持续发展受多重制度因素的影响。本文通过对农村贫困地区可持续发展的制度分析。提出制度创新一对农村贫困地区做出一系列新的制度安排是农村贫困地区可持续发展的保障。     

Perceptions toward stewardship among residents living near U.S. Department of Energy Nuclear Facilities

Although stewardship has been widely defined and used in environmental management and planning, there is a dearth of studies that describe how the lay public perceives this concept. A national sample of residents in 14 states who live near DOE nuclear facilities were interviewed to delineate public understanding and awareness of the stewardship program of the U.S. Department of Energy (DOE). This study discusses the findings of the survey and discusses how institutional trust influences public participation and resident’s choices of potential stewards. Almost 40% of the respondents could not define stewardship; those who did, believed that ‘responsibility,’ ‘management,’ and ‘accountability’ are key elements of stewardship. In addition, about a third of the respondents identified Federal groups and the DOE as potential stewards. Readers should send their comments on this paper to: BhaskarNath@aol.com within 3 months of publication of this issue     

An introductory note on the environmental economics of the circular economy

This paper provides an introduction to some of the fundamental principles and approaches in environmental economics which are of significance to achieving an integrated sustainability science. The concept of a circular economy, introduced by the late David Pearce in 1990, addresses the interlinkages of the four economic functions of the environment. The environment not only provides amenity values, in addition to being a resource base and a sink for economic activities, it is also a fundamental life-support system. Environmental economists have suggested that, taking these four functions as an analytical starting point, unpriced or underpriced services should be internalised in the economy. In Europe significant advances have been achieved in the pricing of externalities by means of truly interdisciplinary analysis which accounts in detail for the environmental consequences. The monetary estimates reached as a result of such interdisciplinary research are gradually being applied to the economic analysis of environmental policy priorities. Although such figures provide only a partial and incomplete picture of the environmental costs at stake, they support and inform the analysis of the virtues of a circular economy for individual resources as well as for sustainability as a future trajectory.     

SUSTAINABILITY AT THE LOCAL LEVEL: MANAGEMENT TOOLS AND MUNICIPAL TAX INCENTIVE MODEL

The implementation of sustainable development may seem a simple concept when written on paper. However to carry-out long term actions put forward by the Agenda 21 (AG21) at the local level represents one of the main challenges as municipal governments in general do not have the capacity to effectively implement the process. Regional environmental assessment (REA) has shown to be effective in supporting decision-making not only to correct environmental problems due to past unsustainable social-economic developments but also help local governments to implement sustainable actions. However this requires long-term investments of AG21 plans and projects. The allocation of regular and consistent financial resources is one of the main ingredients for the sustainable development process. But traditional plans and projects financed by national and/or international funds may not be sustainable in the long-term because they become dependent on external funding. Research demonstrate that innovative economic instruments such as ecotaxes represent a feasible alternative to sponsor local sustainability because taxes are collected permanently by the government and could be invested in continuous actions. Ecotaxes experiences have provided important reference to structure a municipal incentive model (MIM) to sponsor AG21’s environmental plans and projects on a long-term (permanent) basis. However sustainable development cannot be solely through economic investments. A comprehensive municipal environmental management scheme (MEMS) has been established to support the incentive model. The scheme seeks not only to improve local institutional framework but also incentive continuous participation of local stakeholders at all levels of society. Participatory events and the provision of incentives (educational and financial) are key to motivate society to protect the environment and support actively the sustainable development process as emphasised in the RIO-92 Conference.     

Economic development and environmental protection: an ecological economics perspective

This paper argues on both theoretical and empirical grounds that, beyond a certain point, there is an unavoidable conflictbetween economic development (generally taken to mean 'materialeconomic growth') and environmental protection. Think for a moment of natural forests, grasslands, marine estuaries, salt marshes, and coral reefs; and of arable soils, aquifers, mineraldeposits, petroleum, and coal. These are all forms of 'natural capital' that represent highly-ordered self-producing ecosystemsor rich accumulations of energy/matter with high use potential (low entropy). Now contemplate despoiled landscapes, eroding farmlands, depleted fisheries, anthropogenic greenhouse gases,acid rain, poisonous mine tailings and toxic synthetic compounds.These all represent disordered systems or degraded forms of energy and matter with little use potential (high entropy). The main thing connecting these two states is human economic activity. Ecological economics interprets the environment-economyrelationship in terms of the second law of thermodynamics. The second law sees economic activity as a dissipative process. Fromthis perspective, the production of economic goods andservices invariably requires the consumption of available energy and matter. To grow and develop, the economynecessarily 'feeds' on sources of high-quality energy/matter first produced by nature. This tends to disorder and homogenizethe ecosphere, The ascendance of humankind has consistently been accompanied by an accelerating rate of ecological degradation, particularly biodiversity loss, the simplificationof natural systems and pollution. In short, contemporary political rhetoric to the contrary, the prevailing growth-oriented global development paradigm is fundamentally incompatible with long-term ecological and social sustainability. Unsustainability is not a technical nor economic problem as usually conceived, but rather a state of systemic incompatibilitybetween a economy that is a fully-contained, growing, dependent sub-system of a non-growing ecosphere. Potential solutions fly inthe face of contemporary development trends and cultural values.     

Incorporating natural capital into economy-wide impact analysis: a case study from Alberta

Traditionally, decision-makers have relied on economic impactestimates derived from conventional economy-wide models. Conventional models lack the environmental linkages necessary for examining environmental stewardship and economic sustainability, and in particular the ability to assess the impact of policies on natural capital. This study investigatesenvironmentally extended economic impact estimation on a regionalscale using a case study region in the province of Alberta knownas the Foothills Model Forest (FMF). Conventional economic impactmodels are environmentally extended in pursuit of enhancingpolicy analysis and local decision-making. It is found that theflexibility of the computable general equilibrium (CGE) modelingapproach offers potential for environmental extension, with a solid grounding in economic theory. The CGE approach may be the tool of the future for more complete integrated environment andeconomic impact assessment.     

长江流域等重污染行业经济和污染贡献率剖析

应用"污染贡献率"这一指标,分析了长江、黄河、珠江和松花江流域COD和氨氮排放的重污染行业以及地区分布,指出了各流域COD和氨氮排放的控制重点.同时分析了各流域重污染行业的经济贡献率,最后结合行业的污染贡献率和经济贡献率以及行业在地区所占的比例,提出了几点重要的结论.     

试论地震台站的组织结构和激励机制建设

本文对地震台站在新时期的台站管理进行了论述。指出在防震减灾基础建设的重要时期,地震台站的管理,首先需要转变管理理念,同时应完善组织结构建设,建立激励机制。这是完成中国地震局确定的《与时俱进、开拓创新,为全面实现地震台站的现代化而奋斗》重要工作之一。