The Global Sustainability Panel (GSP), formed by UN Secretary-General Ban Ki-moon in August 2010, was asked to think big – to come up with a 'new development paradigm' and mechanisms for putting it into practice. Its product was, among other things, meant to help frame the forthcoming third...

Recent research shows that the majority of cross-national variation in institutions is related to history. The within variation however is somewhat less explored. We find that the within variation in economic institutions can be explained by trade liberalization. This relationship is robust with...

In recent years, renewable energy technologies have been advocated in Small Island Developing States (SIDS) in the Pacific as a risk-mitigation measure against oil price volatility. Despite this, there have been no attempts to measure the impact of renewable technologies on financial risk in...

Extraction from a common pool resource may result in a divergence between competitive and optimal rates of extraction. This paper develops a theoretical model to estimate the size of the payoffs from this divergence under alternative spatial representations. Results show that when a resource is...

The spontaneous growth of Vietnam’s 2,790 rural craft villages has been a mixed blessing. Specialising in ‘traditional’ crafts such as processed foods, textiles and furniture, as well as newer commodities, such as recycled products, craft businesses have expanded rapidly since Vietnam...

The paper analyses the economic payoffs from marine reserves using a stochastic optimal control model. The results show that even if the reserve and harvested populations face the same negative shocks, harvesting is optimal, the population is persistent and with no uncertainty over current stock...

We contribute to the understanding of marine reserves and the management of renewable resources with uncertainty. We show that the key benefit of reserves is that they increase resilience, or the speed it takes a population to return to a former state following a negative shock. Resilience can...

Australia's carbon price has been in operation for two years. The electricity sector accounts for the majority of emissions covered under the scheme. This paper examines the impact of the carbon price on the electricity sector between 1 July 2012 and 30 June 2014, focusing on the National...

We analyse the efficiency effects of the initial permit allocation given to firms with market power in both permit and output market. We examine two models: a long-run model with endogenous technology and capacity choice, and a short-run model with fixed technology and capacity. In the long run,...

In this paper efficiency gains and associated cost reductions from increases in traded quota are estimated with a stochastic cost frontier for the Australian South East Trawl Fishery (SETF). Estimation of this frontier also provides key information on the relative importance of input costs in...