The economics of military expenditures in Latin America and the Caribbean

Includes bibliography

The economics of climate change in Latin America and the Caribbean: Paradoxes and challenges of sustainable development

The robust growth of Latin American and Caribbean economies in recent years has led to an improvement in economic and social conditions in the region. It has also had collateral negative effects, however, such as more air pollution in urban areas and a serious deterioration of various natural assets, including non-renewable resources, water resources and forests. There are economies and societies within the region that are highly vulnerable to all sorts of adverse impacts of climate change, and whose production structures and consumption patterns still tend to leave a large carbon footprint. This situation has reached the point of undermining the foundations of the region’s economic buoyancy. Latin America and the Caribbean therefore needs to make the transition in the years to come towards a sustainable form of development that will preserve its economic, social and natural assets for future generations and leave them with a legacy of a more equal, more socially inclusive, low-carbon form of economic growth. Viewed from this standpoint, the climate change challenge is also a sustainable development challenge, and if it is to be addressed successfully, a global consensus that recognizes the asymmetries and paradoxes of the problem will have to be reached..

The economics of climate change in Latin America and the Caribbean: Paradoxes and challenges. Overview for 2014

Foreword by Alicia Bárcena.

The Economics of Threatened Species Conservation: A Review and Analysis

Stabilizing human population size and reducing human-caused impacts on the environment are keys to conserving threatened species (TS). Earth's human population is ~ 7 billion and increasing by ~ 76 million per year. This equates to a human birth-death ratio of 2.35 annually. The 2007 Red List prepared by the International Union for Conservation of Nature and Natural Resources (IUCN) categorized 16,306 species of vertebrates, invertebrates, plants, and other organisms (e.g., lichens, algae) as TS. This is ~ 1 percent of the 1,589,161 species described by IUCN or ~ 0.0033 percent of the believed 5,000,000 total species. Of the IUCN’s described species, vertebrates comprised relatively the most TS listings within respective taxonomic categories (5,742 of 59,811), while invertebrates (2,108 of 1,203,175), plants (8,447 of 297,326), and other species (9 of 28,849) accounted for minor class percentages. Conservation economics comprises microeconomic and macroeconomic principles involving interactions among ecological, environmental, and natural resource economics. A sustainable-growth (steady-state) economy has been posited as instrumental to preserving biological diversity and slowing extinctions in the wild, but few nations endorse this approach. Expanding growth principles characterize most nations' economic policies. To date, statutory fine, captive breeding cost, contingent valuation analysis, hedonic pricing, and travel cost methods are used to value TS in economic research and models. Improved valuation methods of TS are needed for benefit-cost analysis (BCA) of conservation plans. This Chapter provides a review and analysis of: (1) the IUCN status of species, (2) economic principles inherent to sustainable versus growth economies, and (3) methodological issues which hinder effective BCAs of TS conservation.

The Law and Economics of Eco-labels

Eco-labels and certification are one of the many environmental policy tools that have been under scrutiny in recent years. This is because the damages of environmental degradation are becoming more apparent over time. Hence there is a pressure to come up with tools that help solve even small parts of the problem. Eco-labels have been around for over 30 years. However the market, the environment and eco-labels have changed drastically during this period. Moreover, in the last 5 years there has been a sudden increase in eco-labels making them more visible in the market and to the average consumer. All this has made evident that little is known about the effectiveness of eco-labels as environmental policy tools. Hence, there is a call to find answers regarding the actual effects of eco-labels on the market and on the environment. While this work cannot address whether eco-labels have an environmental impact it addresses the effects of eco-labels on the markets. Moreover, this work aimed to find the role of law in eco-labelling. In addition, it aims to find a legal solution that would improve the performance of eco-labelling and certification.

The Law and Economics of Hedge Fund Regulation: A Comparison between the U.S. and the EU

This doctoral dissertation seeks to assess and address the potential contribution of the hedge fund industry to financial instability. In so doing, the dissertation investigates three main questions. What are the contributions of hedge funds to financial instability? What is the optimal regulatory strategy to address the potential contribution of hedge funds to financial instability? And do new regulations in the U.S. and the EU address the contribution of hedge funds to financial instability? With respect to financial stability concerns, it is argued that despite their benefits, hedge funds can contribute to financial instability. Hedge funds’ size and leverage, their interconnectedness with Large Complex Financial Institutions (LCFIs), and the likelihood of herding behavior in the industry can potentially undermine financial stability. Nonetheless, the data on hedge funds’ size and leverage suggest that these features are far from being systemically important. In contrast, the empirical evidence on the interconnectedness of hedge funds with LCFIs and their herding behavior is mixed. Based on these findings, the thesis focuses on one particular aspect of hedge fund regulation: direct vs. indirect regulation. In this respect, a major contribution of the thesis to the literature consists in the explicit discussion of the relationships between hedge funds and other market participants. Specifically, the thesis locates the domain of the indirect regulation in the inter-linkages between hedge funds and prime brokers. Accordingly, the thesis argues that the indirect regulation is likely to address the contribution of hedge funds to systemic risk without compromising their benefits to financial markets. The thesis further conducts a comparative study of the regulatory responses to the potential contribution of hedge funds to financial instability through studying the EU Directive on Alternative Investment Fund Managers (AIFMD) and the hedge fund-related provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

Monitoring and Assessment of Desertification and Land Degradation: Knowledge Management, Institutions and Economics: White Paper of the DSD Working Group 3

The White Paper is a review of leading scientific knowledge on the role of knowledge management, institutions and economics in monitoring and assessment of land degradation and desertification. It provides key recommendations for more effective policies and actions for combating desertification both withn the UNCCD and beyond. This White Paper is the result of an international collaboration and consultation led jointly by the Association of DesertNet International and the United Nations University - Institute for Water, Environment and Health (UNU-INWEH), of the Dryland Science for Development Consortium (DSD). The findings were presented at the First UNCCD Scientific Conference held during the COP-9 in Buenos Aires, 2009.

The Turkish Drawbridge: European Integration and the Cultural Economics of National Planning

This article examines the relations between the Turkish State Planning Organisation (SPO) and the Western economic system during the first two decades of national planning in Turkey (1960–1980). It traces how the SPO, established with the guidance and full endorsement of international economic institutions came to vehemently oppose Turkish participation in one of their pillars: the European Economic Community (EEC), the predecessor of the European Union. It argues that the shift in the SPO's world-view was founded upon two distinct understandings of the Turkish nation and its development, situates these understandings within the intellectual history of Turkey's past ambivalence towards the West, and, in doing so, provides a historical case-study of the ideological clash between modernisation and dependency theories of development.

The Turkish Drawbridge: European Integration and the Cultural Economics of National Planning

This article examines the relations between the Turkish State Planning Organisation (SPO) and the Western economic system during the first two decades of national planning in Turkey (1960-1980). It traces how the SPO, established with the guidance and full endorsement of international economic institutions came to vehemently oppose Turkish participation in one of their pillars: the European Economic Community (EEC), the predecessor of the European Union. It argues that the shift in the SPO's world-view was founded upon two distinct understandings of the Turkish nation and its development, situates these understandings within the intellectual history of Turkey's past ambivalence towards the West, and, in doing so, provides a historical case-study of the ideological clash between modernisation and dependency theories of development.