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A special issue of Economies (ISSN 2227-7099).

Deadline for manuscript submissions: closed (31 March 2021) | Viewed by 71359

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Dr. George Halkos

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Laboratory of Operations Research, Department of Economics, University of Thessaly, 28hs Octovriou 78, 383 33 Volos, Greece
Interests: applied statistics and econometrics; simulations of economic modelling; environmental economics; applied micro-economic with emphasis in welfare economics; air pollution; game theory; mathematical models (non-linear programming)
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Dear Colleagues,

The issue of interrelationship between economic growth, efficient use of natural resources, and sustainability has been the subject of thorough research and of great interest to economists, researchers, and policy makers. Knowledge of the actual causality direction between sustainability, efficiency, and growth has important implications for modeling environmental economics policies. The various serious environmental problems demand urgent attention and planning of adequate policies towards sustainability. Development of new economic and environmental policies and use of new econometric, operational research mathematical and statistical techniques provide enough space for further research. In order to fill this gap in the literature, this call for papers provides an analysis with special attention to the potential role of efficient use of natural resources, appropriate planning of environmental policies, and fulfilment of a sustainable economic growth. The applied theoretical and analytical contributions are expected to provide guidance to policymakers and government officials in designing new policy scenarios for the investigation of sustainable environmental and resource economics policies. The empirical contributions should provide evidence to support and inform current policy debates worldwide. Contributions will be selected through a refereeing process consistent with the standard reviewing process of Economies, to ensure original contributions of the highest quality are included.

Toward these goals, studies are solicited addressing the following research questions, including but not limited to:

Economic growth and environment: environmental problems (climate change, ozone depletion, acid rain, biodiversity, desertification);
Air and water pollution;
Impact of pollution on health;
Health economics;
Waste management;
Natural resources management;
Population economics;
Environmental policy tools;
Renewable energy sources;
Business and sustainable development;
Sustainable transport;
Sustainable tourism;
Urban and regional development.

Prof. Dr. George Halkos
Guest Editor

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Published Papers (12 papers)

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13 pages, 275 KiB

Open AccessArticle

Some Results on the Control of Polluting Firms According to Dynamic Nash and Stackelberg Patterns

by George E. Halkos and George J. Papageorgiou

Economies 2021, 9(2), 77; https://doi.org/10.3390/economies9020077 - 17 May 2021

Cited by 1 | Viewed by 2188

Abstract

In this paper we model the conflict between the group of polluting firms in a country and any social planner in the same country who attempts to control the volume of emissions generated during the production process. Both players of the game have their own control policies, i.e., the rate of emissions on behalf of the polluting firms and the rate of pollution control (e.g., pollution abatement or environmental taxation) on behalf of the home country. The common state variable of the model is the number of polluting firms, which aims to be minimized via the country’s control policy, but on the polluters’ side it is beneficial to be maximized. Regarding the game model, its setup belongs to the special class of differential games, which are called ‘state separable differential games’. An important property of these games is that the open-loop Nash equilibrium coincides with the Markovian (closed-loop) equilibrium and, in the case of hierarchical moves, analytical solutions are easily obtained. The game proposed here is analyzed for both types of equilibrium, i.e., Nash and Stackelberg. In the simultaneous move game (i.e., the Nash game) we find the equilibrium’s analytical expressions of the controls for both players, as well as the stationary value of the stock of polluting firms. A sensitivity analysis of the model’s crucial variables takes place. In the hierarchical move game (i.e., the Stackelberg game) we find the equilibrium values of the controls, as well as of the state variable. As a result, a comparison between the two types of equilibrium for the game takes place. The analysis of the comparison reveals that the conflict is more intensive (since both controls have greater values) for the case in which the polluting firms act as the leader in the hierarchical move game. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

10 pages, 438 KiB

Open AccessArticle

Economics of Waste Prevention: Second-Hand Products in Germany

by Henning Wilts, Marina Fecke and Christine Zeher

Economies 2021, 9(2), 74; https://doi.org/10.3390/economies9020074 - 12 May 2021

Cited by 8 | Viewed by 4000

Abstract

Reuse is still seen as a “niche phenomenon” and consumers seem to waste economic opportunities linked to buying and selling second-hand products. For this reason, this paper focuses on incentives and barriers to sell and buy second-hand products, as indicated in the literature, and applies a theoretical framework of transaction costs to explain the existing consumption patterns. For this paper, a representative online survey was conducted in which 1023 consumers in Germany participated, age 16 and older. The data were analyzed for statistically significant deviations between different groups of economic actors selling or buying second-hand products. Results show that valuable unused products exist in households, but barriers such as uncertainties about the reliability of the buyer or the quality of the product hinder the transition into sustainable consumption. Different forms of transaction costs are important explanatory variables to explain why consumers nevertheless predominantly buy new products, although they are aware that second-hand would save money and make an individual contribution to climate protection. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

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21 pages, 817 KiB

Open AccessArticle

Developing Corporate Sustainability Assessment Methods for Oil and Gas Companies

by Tatyana Ponomarenko, Oksana Marinina, Marina Nevskaya and Kristina Kuryakova

Economies 2021, 9(2), 58; https://doi.org/10.3390/economies9020058 - 14 Apr 2021

Cited by 13 | Viewed by 4634

Abstract

As it is predicted that there will be a decrease in production at the oil and gas facilities that are currently operating, it becomes necessary to start developing new oil and gas fields. This results in changes to the state’s policy regarding the participation of private companies in the development and implementation of oil and gas offshore exploration and production new projects. Access to unique fields can be provided to the most socially responsible companies. The purpose of this study is to present the author’s methodology for assessing the dynamics of corporate sustainability. The methodology is based on the assessment of individual, well-founded indicators of sustainable development of companies. The proposed methodology takes into account factors in areas such as occupational health and safety, environmental protection and economic efficiency and identifies two performance indicators. The first indicator is an aggregated index for three groups of factors to assess company ratings relative to the performance of the best company. The second indicator is an assessment of the dynamics within the company relative to the previous values of indicators of corporate social responsibility. The research results obtained using the proposed methodology show that oil and gas companies differ significantly in terms of corporate sustainability. The developed methodology for assessing corporate sustainability is of practical importance and can be used by companies in the analysis and planning of operating and investment activities that ensure the achievement of goals of corporate social responsibility. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

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19 pages, 3107 KiB

Open AccessFeature PaperArticle

Mobility Restrictions and E-Commerce: Holistic Balance in Madrid Centre during COVID-19 Lockdown

by Rafael Villa and Andrés Monzón

Economies 2021, 9(2), 57; https://doi.org/10.3390/economies9020057 - 13 Apr 2021

Cited by 67 | Viewed by 11102

Abstract

COVID-19 has brought about a substantial change in urban mobility, as well as an unprecedented increase in e-commerce throughout the world due to the emergence of new ways of shopping and consumption habits. In this context, urban logistics plays a crucial role in the triple bottom line of sustainability. The present document establishes a holistic vision of the problem aiming to (i) measure and compare the traffic generated in the Madrid Central area (low-emission zone) during the periods before and after the pandemic, and (ii) quantify e-commerce orders made by residents, as well as the Light Commercial Vehicles (LCV) required to deliver these parcels, measuring their environmental impact. The results show that road traffic in the Madrid Central area decreased by approximately 2/3 compared to normal levels and 1/2 in the case of LCVs. With regards to e-commerce, the number of parcels delivered doubled. This fact entailed an increase in the number of LVCs dedicated to package delivery in the central district and more pollution, but to a lesser extent than the growth of e-commerce. The challenge faced by urban logistics in the post-Covid era is managing to blend new mobility within large cities with the high volumes of e-commerce deliveries demanded by residents. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

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13 pages, 779 KiB

Open AccessArticle

Climate Justice in an Intergenerational Sustainability Framework: A Stochastic OLG Model

by Gianluigi Cisco and Andrea Gatto

Economies 2021, 9(2), 47; https://doi.org/10.3390/economies9020047 - 1 Apr 2021

Cited by 25 | Viewed by 4923

Abstract

Climate justice is conceived as the intertemporal climate equity and equality exchange amongst generations. Sustainability—intended as the interplay amongst the economy, the society, the environment, and the governance—is essential to forge the climate justice theoretical framework. On this base, the study attempts to model the intertemporal choice of the status quo amongst generations in these four domains, making use of an overlapping generations (OLG) model making use of an intertemporal choice framework. The proxies detected are GDP growth (economy), environmental quality (environment), and labor growth, and environmental investment (society) as assumptions. The governance dimension is captured by the difference in wealth between young and old generations. The work aims at replying to the following research question: Which are the conditions for sustainable development such that climate justice holds? The intra-intergenerational exchange is defined in two periods, while the individual provides their preferred economic and environmental choice mix as consumption-saving. This study shows that keeping the business-as-usual scenario, young generations will have to bear the brunt of sustainable development. Additionally, reduced emissions are only achievable with increased efforts by the youth by reducing their leisure and consumption. These facts call for enhanced intergenerational sustainability and climate justice policies. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

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18 pages, 3336 KiB

Open AccessArticle

Spatial Patterns in Fiscal Impacts of Environmental Taxation in the EU

by Vít Pászto, Jarmila Zimmermannová, Jolana Skaličková and Judit Sági

Economies 2020, 8(4), 104; https://doi.org/10.3390/economies8040104 - 20 Nov 2020

Cited by 3 | Viewed by 3106

Abstract

There are several reasons for environmental taxation implementation. Besides its environmental impact, the main reason for such taxation is its fiscal impact, particularly in generating revenues of public budgets. The main goal of this paper is to observe possible spatial patterns in fiscal impacts of environmental taxation in the EU countries, and to depict the groups of countries with the same (or similar) fiscal impact of these instruments on public budget revenues, including environmental and economic characteristics. Two methods of cluster analysis are used, Ward linkage and K-nearest neighbors (spatial) cluster analysis to observe potential geographical links or implication of fiscal impact. The study is performed for the years 2008 and 2017. Based on the results, we can say that in the year 2008, the EU countries were divided into “the west” and “the east”, with some exceptions. The western countries were characterized by high environmental tax revenues, the eastern countries by low environmental tax revenues. For 2017, the situation is different. The border between old and new EU member states is not so abrupt and clear. The results show higher diversification between EU countries concerning the fiscal impacts of environmental taxation. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

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7 pages, 196 KiB

Open AccessArticle

Environmental Exigencies and the Efficient Voter Rule

by David A. Anderson

Economies 2020, 8(4), 100; https://doi.org/10.3390/economies8040100 - 17 Nov 2020

Cited by 2 | Viewed by 4058

Abstract

Externality problems hinder solutions to existential threats, including climate change and mass extinction. To avert environmental crises, policymakers seek mechanisms that align private incentives with societal exigencies. Successful solutions bring individuals to internalize the broad repercussions of their behavior. In some cases, privatization, Coasian bargaining, or Pigouvian taxes effectively place the weight of externalities on the relevant decision makers. Yet, the available remedies often fail to provide satisfactory outcomes, and inefficiencies persist in the markets for energy, transportation, and manufactured goods, among others. This article explains how a simple voting mechanism can achieve socially optimal decisions about many of the innumerable externality problems that remain. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

21 pages, 926 KiB

Open AccessArticle

Resource Rents, Human Development and Economic Growth in Sudan

by Elwasila Saeed Elamin Mohamed

Economies 2020, 8(4), 99; https://doi.org/10.3390/economies8040099 - 16 Nov 2020

Cited by 45 | Viewed by 5486

Abstract

This study investigates the relationship between natural resource rents, human development and economic growth in Sudan using co-integration and vector error correction modelling (VECM) over the period 1970–2015. Institutions proved to play a role in determining a difference in whether a country is cured or blessed by resource abundance. In the case of Sudan, no time series data is available on institutional quality and is therefore excluded from the analysis. The role of institutions and macroeconomic policies is captured by other variables included in the empirical model. Co-integration tests confirm the existence of a long run equilibrium relationship between resource rents, human development and economic growth in Sudan. Empirical evidence from the estimated VECM shows that economic growth is positively affected by resource rents and development expenditure but surprisingly negatively affected by life expectancy at birth in the short run. In the long run, resource rents, school enrolment, life expectancy and financial development have negative significant effects on economic growth. Only development expenditure is found to affect economic growth positively. Resource rents are found to weaken education and health levels and this is indirectly channeled into negative effects of resource rents on economic growth. These results suggest that the government has been neglecting investments to build up human capital necessary for inclusive growth. Long run Granger causality tests show a unidirectional causal relationship running from resource rents to GDP growth as well as from development expenditure to GDP growth. School enrollment, life expectancy and financial development are found to be negatively Granger causing GDP growth. Long run causal relationships reconfirm that a resource curse exists indirectly mediated by weak human capital. The study recommends that the government should manage natural resource rents with a policy framework supporting creation of a virtuous economic circle between human development and economic growth. If pursued, this would promote sustained, inclusive and equitable growth in Sudan. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

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24 pages, 1143 KiB

Open AccessArticle

New Evidence Using a Dynamic Panel Data Approach: Cereal Supply Response in Smallholder Agriculture in Ethiopia

by Anbes Tenaye

Economies 2020, 8(3), 61; https://doi.org/10.3390/economies8030061 - 30 Jul 2020

Cited by 5 | Viewed by 4750

Abstract

Increasing agricultural production is essential to improving food availability and farm household incomes in developing economies. This study investigated the dynamic supply responses of major cereal crops to price and nonprice factors in Ethiopia using the Ethiopian Rural Household Survey (ERHS) panel dataset from 1994 to 2009. According to the Nerlovian expectation and adjustment approach in conjunction with the system GMM (generalized method of moments) estimator, both the planted areas and produced yields of major crops (teff, wheat, and barley) are influenced by price and nonprice factors in Ethiopia. The supply of major cereal crops is affected positively by their own prices and negatively by the prices of substitute crops. Nonprice factors such as education, farm size, fertilizer, land quality, and precipitation also affect supply of major cereals. Both the short-term and long-term acreage and yield response elasticities of teff and barley are positive. Moreover, the adjustment coefficients are positive for teff, barley, and wheat. The results suggest that Ethiopian farmers are capable of analyzing market signals and responding positively to price increases of staple crops. The findings also imply that the Ethiopian agricultural sector has been responsive to the cereal price increases observed since 2006. The remarkable growth of Ethiopian agriculture over recent decades is partly explained by the increase in agricultural prices. This study recommends that a fine-tuned balance between government interventions and market solutions is important, in addition to improving farmers’ agronomic practices, for increasing agricultural production. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

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14 pages, 795 KiB

Open AccessArticle

Herbal-Based Cosmeceuticals and Economic Sustainability among Women in South African Rural Communities

by Peter Tshepiso Ndhlovu, Abiodun Olusola Omotayo, Adeyemi Oladapo Aremu and Wilfred Otang-Mbeng

Economies 2020, 8(3), 51; https://doi.org/10.3390/economies8030051 - 27 Jun 2020

Cited by 5 | Viewed by 5061

Abstract

Access to natural resources in the immediate environment is an essential factor that contributes to livelihood in many rural areas. In the current study, we explored the economic potential(s) of the natural herbal-based cosmetic and cosmeceutical enterprise for the welfare of the Vhavenda women. A purposive sampling technique was used to collect data from 79 Vhavenda women and analysed with descriptive and inferential statistics (Tobit regression) as well as budgeting analysis. The majority (61%) of the participants were married with an average household size of five members. Additionally, 39% of the participants were already ageing with an average age-group of 56–70 years. The majority (44%) of the participants were not formally employed while the monthly average total income of R1841.01 (107.37 USD) was recorded with an average per capital expenditure of R1438.42 (83.89 USD). A budgeting cost ratio of 1.28 was recorded, which indicates that for every R1.00 (0.057 USD) invested in the herbal-based cosmetic and cosmeceutical production, an expected return of R1.28 (0.073 USD) was forecasted. Tobit regression results indicated that the determinants of the income of participants were experience level (p < 0.01), religion affiliation (p < 0.05) and consumption expenditure (p < 0.01) among others. Thus, a conscious, introspective and intentional look into this marginalised herbal-based cosmetic and cosmeceutical enterprise as a panacea for improved income and welfare of rural South Africans should be considered. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

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19 pages, 810 KiB

Open AccessReview

Trade–Climate Nexus: A Systematic Review of the Literature

by Jeremiás Máté Balogh and Tamás Mizik

Economies 2021, 9(3), 99; https://doi.org/10.3390/economies9030099 - 29 Jun 2021

Cited by 7 | Viewed by 6068

Abstract

In the climate–trade debate, moderate attention is dedicated to the role of trade agreements on climate. In turn, trade agreements could help countries meet climate goals by removing tariffs, harmonizing standards on environmental goods, and eliminating distorting subsidies on fossil fuels. This paper aims to provide an overview of the role of trade agreements on climate-change mitigation. This systematic literature review is based on the international economic literature published between 2010 and 2020. This literature review underlines that the effectiveness of the trade agreements and WTO negotiations on emission reduction is weak. This is due to different national interests and protectionism. The elimination of trade barriers stimulates trade, but this may also raise greenhouse gas emissions and cause other environmental problems (e.g., deforestation). Furthermore, this article points out that emission leakage is also a crucial issue hindering the success of global climate agreements on greenhouse gas reduction. The greatest beneficiaries of the trade agreements are usually the largest GHG emitters, such as China, the US, and the EU. By contrast, developing countries are in a weaker position regarding climate–trade negotiation. The literature review offers policy solutions which can contribute to emission reduction and tools for stimulating a trade-related climate-change abatement policy. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

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20 pages, 1269 KiB

Open AccessCommentary

Revisiting the Environmental Kuznets Curve: The Spatial Interaction between Economy and Territory

by Enrico Maria Mosconi, Andrea Colantoni, Filippo Gambella, Eva Cudlinová, Luca Salvati and Jesús Rodrigo-Comino

Economies 2020, 8(3), 74; https://doi.org/10.3390/economies8030074 - 14 Sep 2020

Cited by 32 | Viewed by 8261

Abstract

A complex interplay of socio-ecological drivers of change exists at the different spatiotemporal scales affecting environmental degradation. This is a key issue worldwide and needs to be understood to develop efficient management solutions. One of the most applied theories in the regional analysis is the U-shaped relationship between environmental degradation and the level of income in a given economic system or Environmental Kuznets Curve (EKC). Specifically, the EKC hypothesis underlines the (potentially positive) role of formal responses to environmental degradation grounded on government policies that are usually more ambitious in wealthier economic systems. However, there is a lack of knowledge on the role of space in EKC, arguing that spatial variability in the environment–income relationship may indicate additional targets for integrated socio–environmental policies. We hypothesize that a spatially differentiated response to environmental degradation could better adapt to differentiated local contexts. Therefore, to achieve this goal, we present a multi-scale investigation of degradation processes at the local level, providing a refined knowledge of the environment–economy linkages considering more traditional, cross-country and cross-region exercises. Our results demonstrated that—together with temporal, sectoral, and institutional aspects—space and, consequently, the related analysis’ spatial scales, are significant dimensions in ecological economics, whose investigation requires improvements in data collection and dedicated statistical approaches. Full article

(This article belongs to the Special Issue Current Issues in Natural Resource and Environmental Economics)

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