Permit markets,carbon prices and the creation of innovation clusters

Innovation clusters combining public and private effort to develop breakthrough technologies promise greater technological advances to slow down climate change. We use a multi-country model with an emission trading system to examine whether and how international climate policy can incentivize countries to create such innovation clusters. We find that a minimal carbon price is needed to attract applied research firms, but countries may nevertheless fail to invest in complementary research infrastructure. We construct a mechanism that leads to innovation clusters when emissions targets are set before uncertainty surrounding technological developments is resolved. It is a combination of low permit endowments for the country with the lowest costs to build the needed infrastructure, compensation for this country by profits from permit trade, and maximal possible permit endowments for the remaining countries. We outline how the EU-ETS can be further refined according to this mechanism.     

金融支持国防知识产权成果转化问题及策略研究

国防知识产权成果转化应用是国防科技创新体系建设落地见效的关键环节，引入现代金融体系能够有效促进国防知识产权成果转化。目前我国国防知识产权转化工作在组织管理体制、工作运行体系、法规政策制度和信息化建设等方面初显成效，但仍面临整体转化形势不容乐观、金融支持体系尚未成熟等问题，根本原因在于国防知识产权与发明人割裂导致一般金融产品难以通过审核，使融资渠道狭窄；其保密性进一步加大了与金融机构间的信息不对称，使得金融资源配置效率低下；国防知识产权专用性较强，相应抬高了融资成本。为有效解决上述问题，提出3条改进措施，以实现对国防知识产权转化的金融支持，即①从顶层设计上优化解密脱密流程，明确发明人与知识产权的权属关系，细化财税优惠等支持措施；②加强政府财政税收政策支持，引导创新利用多元社会资本进入支持转化领域；③建立各主体参与的金融服务协调保障机制、监测评估体系，启动国防知识产权转化的金融支持试点工作，构建符合国情的国防知识产权转化金融支持体系。     

Supply‐ versus Demand‐Side Policies in the Presence of Carbon Leakage and the Green Paradox

We consider a climate coalition that seeks to reduce global emissions in the presence of carbon leakage and resource exhaustibility. We show that a credible announcement of future unilateral supply‐side policies delays foreign emissions, and we derive the optimal combination of consumer taxes and producer taxes when we consider leakages from free riders, both within periods and across periods. The tax shares generally differ over time. A decline in the present value of the social cost of carbon over time supports a time path where the consumers’ tax share of the total carbon tax also declines over time. We illustrate our findings with a numerical model.     

Structural production layer decomposition: a new method to measure differences between MRIO databases for footprint assessments

Recent empirical assessments revealed that footprint indicators calculated with various multi-regional input–output (MRIO) databases deliver deviating results. In this paper, we propose a new method, called structural production layer decomposition (SPLD), which complements existing structural decomposition approaches. SPLD enables differentiating between effects stemming from specific parts in the technology matrix, e.g. trade blocks vs. domestic blocks, while still allowing to link the various effects to the total region footprint. Using the carbon footprint of the EU-28 in 2011 as an example, we analyse the differences between EXIOBASE, Eora, GTAP and WIOD. Identical environmental data are used across all MRIO databases. In all model comparisons, variations in domestic blocks have a more significant impact on the carbon footprint than variations in trade blocks. The results provide a wealth of information for MRIO developers and are relevant for policy makers designing climate policy measures targeted to specific stages along product supply chains.     

Machine Learning and Expert Judgement: Analyzing Emerging Topics in Accounting and Finance Research in the Asia–Pacific

In this paper, we focus on the question to what extent machine learning (ML) tools can be used to support systematic literature reviews. We apply a ML approach for topic detection to analyze emerging topics in the literature—our context is accounting and finance research in the Asia–Pacific region. To evaluate the robustness of the approach, we compare findings from the automated ML approach with the results from a manual analysis of the literature. The automated approach uses a keyword algorithm detection mechanism whereby the manual analysis uses common techniques for qualitative data analysis, that is, triangulation between researchers (expert judgement). From our paper, we conclude that both methods have strengths and weaknesses. The automated analysis works well for large corpora of text and provides a very standardized and non-biased way of analyzing the literature. However, the human researcher is potentially better equipped to evaluate current issues and future trends in the literature. Overall, the best results might be achieved when a variety of tools are used together.     

New development: A new COFOG for South Korea

The South Korean government's Classification of the Functions of Government (COFOG) is grounded in the System of National Accounts (SNA), rather than Government Finance Statistics (GFS). This article explains why a GFS-based classification might be beneficial to South Korea for the purposes of fiscal management and the comparison of government expenditures with other countries.     

基于三大品牌价值排行榜的中国品牌横向分析

论文以Interbrand、Brandz、Brand Finance三大品牌价值排行榜的数据为基础,通过与美英日德四个发达国家的对比,从品牌整体实力、品牌国际影响力、品牌分布格局三个方面分析我国品牌的发展现状。发现我国品牌存在发展不协调、国际影响力低、品牌表现不稳定的问题,并对我国品牌发展格局进行展望。     

A multivariate time series analysis of energy consumption,real output and pollutant emissions in a developing economy: New evidence from Nepal

Mountain economies will have to play a central role in attaining the global pursuit of green economic growth as crucial bearers of ecosystems goods and services. However, these economies are not adequately represented in the development policy debates in spite of their fundamental importance towards global sustainable development. This study examines the inter relationships between energy consumption, output and carbon emissions in a developing mountainous economy using an augmented Vector Autoregression model. Time-series data over the period 1975–2013 is studied applying a multivariate framework using population and gross fixed capital formation as additional variables for Nepal. Testing for Granger causality between integrated variables based on asymptotic theory reveals a long-run unidirectional Granger causality running from GDP to energy consumption, and a unidirectional Granger causality running from carbon emissions to GDP. We suggest that the government of Nepal can address energy poverty by accelerating the adoption energy conservation policies such as rationing energy consumption and energy efficiency improvements to narrow the energy supply-demand gap. The opportunity to promote the uptake of decentralised off-grid renewable technologies in remote areas and the large scale development of hydropower at the national level also needs to be prioritized. Our results remain robust across different estimators and contributes to an emerging literature on the nexus relationships between energy consumption, income and carbon emissions in mountainous developing economies.     

转变城市发展方式之低碳城市建设——基于德国经验借鉴

首先从产业能源体系、低碳交通网络及生态环境三方面梳理德国低碳城市建设实践,然后总结德国在低碳意识培养、战略目标制定、政策体系建设等方面值得借鉴的经验,最后从“公平-效率-质量”视角为我国低碳城市建设提出建设路径:加快创新驱动,提高建设效率;提供制度支持,注重建设公平;强调以人为本,提升建设质量。     

Energy efficiency promotion backfires under cap-and-trade

Major climate-cum-energy policies and respective impact projections rest on the widespread belief that increased energy efficiency can be equated with savings in energy use and emissions. This belief is flawed. Due to the rebound effect emissions savings from energy efficiency improvements will be generally less than what is technically feasible, or even be reversed. By means of an analytical general equilibrium model we demonstrate the latter to be true in a case that is both stark and relevant: if electricity generation is subject to a cap-and-trade scheme with partial coverage, increased efficiency of electric devices leads unambiguously to increased carbon emissions. The result implies that a proper distinction between the energy rebound and the carbon rebound is warranted, and that public policy must carefully consider the interactions between energy efficiency promotion and carbon pricing.