Returns to storage for crude oil reserves contain both a cost-reducing component (consistent with Kaldor's original notion of convenience) and often sizable premiums associated with the dispersion of petroleum prices.Innovations in futures, options, and derivative instruments permit active...

Over the past dozen years, policymakers have largely abandoned long-standing popular approaches for addressing risk in agriculture without fully resolving the question of how best to manage the negative consequences of volatile agricultural markets. The article reviews the transition from past...

Transport infrastructure consumes a large fraction of the development assistance envelope. Yet procedures for evaluating transport infrastructure projects are typically ad hoc. This paper proposes an approach to assess the differential impacts of alternative investment proposals in data...

While some argue that trade liberalization has raised incomes and led to environmental protection in developing countries, others claim that it generates neither poverty reduction nor sustainability. The detailed case studies in this book demonstrate that neither interpretation is universally...

While some argue that trade liberalization has raised incomes and led to environmental protection in developing countries, others claim that it generates neither poverty reduction nor sustainability. The detailed case studies in this book demonstrate that neither interpretation is universally...

While some argue that trade liberalization has raised incomes and led to environmental protection in developing countries, others claim that it generates neither poverty reduction nor sustainability. The detailed case studies in this book demonstrate that neither interpretation is universally...

Lessons from six case studies illustrate the complex relationships between international trade, vulnerable ecologies and the poor. The studies, taken from Africa, Asia and Latin America and conducted by local researchers, are set in places where the poor live in close proximity to ecologies that...