Recent carbon market prices are substantially lower than mean or median estimates of the social cost of carbon in the literature. Intuition would therefore suggest that 'investment errors' are being made, in the sense that markets favor higher carbon-emitting projects, while global welfare would...

This internal background paper has been prepared to help inform the 2010 environment strategy with respect to a proposed way forward on use of country systems. The World Bank Group environment strategy is built on three pillars: leveraging natural resources for growth and poverty reduction;...

In this paper, a stochastic translog production function frontier is specified to estimate the input-oriented technical efficiency of 11 major Australian irrigation schemes. The analysis is applied to a panel data set including the years 1998/1999, 1999/2000 and 2000/2001. The environmental...

New research on urban air pollution casts doubt on the conventional view of the relationship between economic growth and environmental quality. This view holds that pollution automatically increases until societies reach middle-income status because poor countries have neither the institutional...