This article explores the critical role of energy in shaping capitalist modes of development, and their entry into crisis, in France between 1960 and 2020. This analysis challenges traditional views that regard energy primarily as an exogenous shock and instead posits energy as a fundamental metabolic constraint in capitalist accumulation regimes and proves that neoliberalism’s structural crisis is rooted in the exhaustion of past energy management strategies, opening the door to the emergence of post-liberal capitalism.
Herein we study carbon taxation considering the structure of the global production network. With this purpose we characterize how the implementation of a carbon tax in one country-sector can generate sizeable fluctuations on global emissions and welfare through its impact on the structure of production.
In this study, we empirically estimate the impact of quality regulation based on economic incentives on the frequency and duration of power outages. Our results show that on average, private firms had a better quality performance, but the worst performing firms in the region were also private. Our results advocate for more quality regulation.
Balancing development and climate sustainability is a critical issue confronting nations worldwide. This is the core focus of our new journal, Development and Sustainability in Economics and Finance (DSEF). This article provides an initial overview of the type of research DSEF seeks to publish.
We exploit new data on NGO campaigns that target banks financing fossil fuels (« brown » banks) to build a measure of French banks’ environmental reputation, which we merge with granular data on bank deposits and loans of households in France over 2010-2020. We find that banks receive relatively fewer household deposits when they are perceived as browner.
This paper studies climate-related central bank communication using a novel dataset containing 35,487 speeches delivered by 131 central banks from 1986 to 2023. It employs natural language processing techniques to identify and trace the evolution of key climate-related narratives centred around (i) green finance, and (ii) climate-related financial risks. Equity returns of « green » firms outperform those of « dirty » firms when central banks engage more frequently and intensely with climate-related topics.
This paper leverages a new method in the construction of credible counterfactuals for causal inference. This paper adopts a Bayesian structural time series (BSTS) modeling framework alongside a set of contemporaneous predictors related to power sector emissions to build counterfactual estimates of emissions for each post-intervention period and analyze the policy implementation effect by comparing actual emissions with counterfactual estimates.
Cet article étudie dans le cadre d’un modèle d’équilibre partiel à deux pays, le Nord et le Sud, les effets du changement de localisation des entreprises dans un contexte de concurrence internationale et imparfaite.
Energy poverty is a multidimensional issue, as demonstrated by a comparison between two low-income countries, Bolivia (BOL) and Côte d’Ivoire (CIV), and a high-income European country, France (FRA). These three countries represent different stages of access and energy poverty. The findings highlight the importance of considering affordability in efforts to ensure universal energy access, to prevent further exclusion and promote energy justice.
The report attempts to respond to the UN Secretary-General’s recent call for « innovative approaches and bold policy decisions » to tackle the SDGs (UN, 2023). It attributes the existing finance gap to the unrealistic assumptions of the dominant macroeconomic paradigm, which it proposes to replace with new assumptions that are better able to address the sustainability crisis. The potential effects of this new ecological policy mix are analysed using Philia 1.0, an ecological stock-flow consistent model.
