{"title":"The Economics of Drought","authors":"Eric Edwards, Leslie Sanchez, Sheetal Sekhri","doi":"10.1146/annurev-resource-101623-100253","DOIUrl":"https://doi.org/10.1146/annurev-resource-101623-100253","url":null,"abstract":"Water scarcity and drought have determined the structure, location, and fate of civilizations throughout history. Drought remains an important factor in the performance of developed and developing economies, especially in the agricultural sector. While significant attention has been paid to drought as a meteorological phenomenon and on its economic impact, comparative institutional analysis of the economics of drought is limited. In this review, we focus on how economic institutions, the humanly devised constraints that shape the allocation and use of water, impact the severity and incidence of droughts. Water property rights in developed countries encourage infrastructure investments and reallocations that mitigate drought impacts, although such institutions may codify inequitable water access during drought. Developing economies rely more on informal strategies for mitigating drought and remain more vulnerable, experiencing economic losses, conflict, and violence.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"44 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2024-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140648528","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Political Economy of Agriculture and Food Policy in Africa","authors":"Danielle Resnick","doi":"10.1146/annurev-resource-101722-080332","DOIUrl":"https://doi.org/10.1146/annurev-resource-101722-080332","url":null,"abstract":"This article reviews the literature on the political economy of agricultural and food policy in sub-Saharan Africa. In doing so, it first presents a conceptual framework highlighting that agricultural and food policy decisions are contingent on the intersection between governance structures, the preferences and pressures from societal interest groups, and international dynamics. The interrelations among these three factors are then examined across several different sets of policy instruments that have been the focus of traditional political economy research in the region: trade, tax, and marketing policies; public investments and regulations; input and food subsidies; and cross-cutting policies for value chain development. Recognizing several broader demographic, technology, and governance transitions in the region, the article also highlights key areas for future analysis that examine the role of cities in food policy, the possibilities presented by expanded mobile phone and Internet access, and the efficacy of new public administration modalities for policy implementation.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"35 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2024-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140545177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Do Different Estimation Methods Lead to Implausible Differences in the Size of Nonobserved or Shadow Economies? A Preliminary Answer","authors":"Friedrich Schneider","doi":"10.1146/annurev-resource-090822-114308","DOIUrl":"https://doi.org/10.1146/annurev-resource-090822-114308","url":null,"abstract":"This review evaluates three micro and three macro estimation approaches to determine whether unrealistic differences exist in estimating the size of nonobserved/shadow economies. While some macro-MIMIC estimates are higher than estimates using the statistical discrepancy approach, when adjusting for double-counting, MIMIC approaches provide similar results. Macro approaches usually cover not only typical shadow economy activities, but also voluntary work, do-it-yourself activities, and classical crime activities; by nature, macro approaches will lead to higher and more accurate estimates than micro approaches. However, if certain adjustments are made, the estimated size of the shadow economy using the MIMIC approach comes close to the size of the shadow economy indicated by micro survey approaches. Hence, claims that macro approaches are unrealistically high and rely on unrealistic assumptions must be reconsidered.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134948202","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Juan Sebastian Correa, Silvio Daidone, Benjamin Davis, Nicholas J. Sitko
{"title":"Social Protection and Rural Transformation in Africa","authors":"Juan Sebastian Correa, Silvio Daidone, Benjamin Davis, Nicholas J. Sitko","doi":"10.1146/annurev-resource-101422-100158","DOIUrl":"https://doi.org/10.1146/annurev-resource-101422-100158","url":null,"abstract":"This article develops a conceptual framework on pathways through which noncontributory social protection can support resilient and inclusive agricultural growth in rural Africa. It draws insights from a review of rigorous empirical evidence on the impacts of cash transfers and multifaceted cash plus programs on a range of relevant productive outcomes, including accumulation of productive assets, inputs and farm management practices, off-farm labor and nonfarm enterprises, and farm production and income. This review demonstrates an emerging consensus in the literature: that access to social protection programs contributes positively to increasing the productive asset holdings of rural people, increasing the use of improved inputs and farm practices, and shifting away from casual wage labor arrangements. Moreover, there is limited evidence on heterogeneous effects across different baseline characteristics (income, sex, and labor-constrained households, among others). Finally, the article highlights how social protection programs should be considered an integral part of broader rural and agricultural development strategies in order to achieve a more productive, resilient, and equitable rural transformation in Africa.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"126 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134946900","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Preface to the Fifteenth Volume of the <i>Annual Review of Resource Economics</i>","authors":"Gordon Rausser, David Zilberman","doi":"10.1146/annurev-re-15-080723-100001","DOIUrl":"https://doi.org/10.1146/annurev-re-15-080723-100001","url":null,"abstract":"Meat has become a controversial topic in public debates, as it involves multiple sustainability dimensions. Here, we review global meat consumption trends and the various sustainability dimensions involved, including economic, social, environmental, ...Read More","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134975782","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Economics of Crop Residue Management","authors":"Vijesh V. Krishna, Maxwell Mkondiwa","doi":"10.1146/annurev-resource-101422-090019","DOIUrl":"https://doi.org/10.1146/annurev-resource-101422-090019","url":null,"abstract":"More than five billion metric tons of agricultural residues are produced annually worldwide. Despite having multiple uses and significant potential to augment crop and livestock production, a large share of crop residues is burned, especially in Asian countries. This unsustainable practice causes tremendous air pollution and health hazards while restricting soil nutrient recycling. In this review, we examine the economic rationale for unsustainable residue management. The sustainability of residue utilization is determined by several economic factors, such as local demand for and quantity of residue production, development and dissemination of technologies to absorb excess residue, and market and policy instruments to internalize the social costs of residue burning. The intervention strategy to ensure sustainable residue management depends on public awareness of the private and societal costs of open residue burning.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"56 2","pages":""},"PeriodicalIF":5.8,"publicationDate":"2023-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71507523","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Agroecology for a Sustainable Agriculture and Food System: From Local Solutions to Large-Scale Adoption","authors":"F. Ewert, R. Baatz, R. Finger","doi":"10.1146/annurev-resource-102422-090105","DOIUrl":"https://doi.org/10.1146/annurev-resource-102422-090105","url":null,"abstract":"Agroecology is often considered as the ultimate and most comprehensive solution to the many challenges of the agricultural and food system, also referred to as the agri-food system. This review investigates to what extent agroecology can become the mainstream model for transforming agriculture toward more sustainable and resilient agri-food systems within the given economic and political context. We find that enhancing agroecology will require a fully integrated multiscale systems approach from farm to region to globe. The approach must consider relevant processes and relationships, actors and stakeholders as well as drivers, sustainability indicators, and the respective assessment methods across all scales. Giving specific attention to drivers related to economy, technology, and policy we point out that agroecology needs to be economically viable for farmers and other food system actors. In particular, new and emerging technologies related to digitalization and breeding should be given more consideration in agroecological transformation. We stress the need for an analytical and operational framework and adequate multiscale policy design and suggest six areas of needed attention to support the large-scale adoption of agroecology. Expected final online publication date for the Annual Review of Resource Economics, Volume 15 is October 2023. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"10 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2023-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86024209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. Borghesi, M. Pahle, Grischa Perino, Simon Quemin, Maximilian Willner
{"title":"The Market Stability Reserve in the EU Emissions Trading System: A Critical Review","authors":"S. Borghesi, M. Pahle, Grischa Perino, Simon Quemin, Maximilian Willner","doi":"10.1146/annurev-resource-111820-030145","DOIUrl":"https://doi.org/10.1146/annurev-resource-111820-030145","url":null,"abstract":"Having experienced low prices for about a decade, the European Union Emissions Trading System has been supplemented with the market stability reserve (MSR) that adjusts the supply of allowances to market outcomes. We critically review the literature assessing the performance of the MSR against several policy objectives. In doing so, we cover both conceptual aspects and quantitative assessments. We conclude by pointing out important policy implications and open issues for further research. Expected final online publication date for the Annual Review of Resource Economics, Volume 15 is October 2023. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"8 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2023-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81433883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
P. Koundouri, Barbara Hammer, Ulrike Kuhl, A. Velias
{"title":"Behavioral Economics and Neuroeconomics of Environmental Values","authors":"P. Koundouri, Barbara Hammer, Ulrike Kuhl, A. Velias","doi":"10.1146/annurev-resource-101722-082743","DOIUrl":"https://doi.org/10.1146/annurev-resource-101722-082743","url":null,"abstract":"Identifying mechanisms of real-life human decision-making is central to inform effective, human-centric public policy. Here, we report larger trends and synthesize preliminary lessons from behavioral economic and neuroeconomic investigations focusing on environmental values. We review the currently available evidence at different levels of granularity, from insights into how individuals value natural resources (individual level), evidence from work on group externalities, common pool resources, and social norms (social group level) to the study of incentives, policies, and their impact (institutional level). At each level, we identify viable directions for future scientific research and actionable items for policy-makers. Coupled with new technological and methodological advances, we suggest that behavioral economic and neuroeconomic insights may inform an effective strategy to optimize environmental resources. We conclude that the time is ripe for action to enrich policies with scientifically grounded insights, making an impact in the interest of current and future generations. Expected final online publication date for the Annual Review of Resource Economics, Volume 15 is October 2023. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"1 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2023-07-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88191576","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Environmental Regulation and Labor Demand: What Does the Evidence Tell Us?","authors":"Wayne D. Gray, Ronald J. Shadbegian, A. Wolverton","doi":"10.1146/annurev-resource-101422-115834","DOIUrl":"https://doi.org/10.1146/annurev-resource-101422-115834","url":null,"abstract":"Understanding the potential effect of environmental regulation on employment is of broad interest to key stakeholders. Concerns encompass both short- and longer-term effects on workers within the regulated sector, affected communities that already suffer from a lack of employment opportunities, and net employment in the overall economy. We begin our review by presenting a neoclassical microeconomic framework demonstrating how environmental regulations might affect labor demand. We then summarize the main empirical findings from the literature, including sector-specific partial equilibrium estimates and general equilibrium approaches to identifying the employment impacts of regulations. We also briefly describe the literature on how environmental regulations affect labor supply. Finally, we discuss remaining research gaps. Expected final online publication date for the Annual Review of Resource Economics, Volume 15 is October 2023. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.","PeriodicalId":48856,"journal":{"name":"Annual Review of Resource Economics","volume":"32 1","pages":""},"PeriodicalIF":5.8,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81309850","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}