Brent M. Swallow and Thomas W. Goddard
This paper aims to track the development of climate policy in the province of Alberta, Canada, particularly the province’s unique greenhouse gas emission offset mechanism. The…
Abstract
Purpose
This paper aims to track the development of climate policy in the province of Alberta, Canada, particularly the province’s unique greenhouse gas emission offset mechanism. The analysis shows how the policy has influenced, and been influenced by, policy processes at the national and international levels.
Design/methodology/approach
The paper begins with an analytical framework that recognizes different types of influence between international, national and provincial climate policy processes. That framework is used to structure a review of four historical periods of climate policy change: prior to 1992, 1992 to 2002, 2002 to 2012 and between 2012 and mid-2015.
Findings
The analysis illustrates the interplay between the Alberta approach to climate policy and the international and national policy contexts. A period of intense policy conflict between Canada’s federal and provincial governments led to a situation in which the Alberta Government sought to lead rather than follow national policy. Subsequent periods have seen the Canadian national government oscillate between following the lead of Alberta or the USA.
Research limitations/implications
Rather than national and international policies simply setting the context for Alberta’s policy, the paper identifies multiple flows of influence between the three levels of governance. The results illustrate the need to consider forward and backward flows of influence between the different levels of government that set climate change policies. Elements of several models of policy change are supported.
Practical implications
The Alberta climate mitigation policy has many elements that can be effective in reducing carbon emissions in a way that is both flexible and predictable. These elements are of interest to other jurisdictions. Other elements of the current policy, however, limit its effectiveness in reducing emissions. More concerted policy action is needed to mitigate carbon emissions in Alberta for Canada to meet its agreed targets.
Originality/value
No other paper has tracked the historical evolution of climate policy at the provincial/state level in a way that clarifies the forward and backward linkages with national and international policy.
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Purpose – The chapter explores the use of freedom of information (ATI/FOI) requests in social science research, with specific focus on using ATI/FOI requests in socio-legal…
Abstract
Purpose – The chapter explores the use of freedom of information (ATI/FOI) requests in social science research, with specific focus on using ATI/FOI requests in socio-legal studies, criminal justice studies, and criminology.
Methodology/approach – ATI/FOI requests constitute a novel method of data collection that has methodological and also epistemological implications for researchers.
Findings – The chapter explains how to use ATI/FOI requests in social science as well as how to navigate challenges and barriers ATI/FOI users regularly face.
Originality/value – There is a paucity of writings on use of ATI/FOI requests in socio-legal studies, criminal justice studies, and criminology. The chapter reveals the value of using ATI/FOI in social science and the originality of the data that ATI/FOI requests can result in.
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This study aims to uncover the main predictors of financial distress in the Gulf Cooperation Council (GCC) countries using a wide range of global factors and asset classes.
Abstract
Purpose
This study aims to uncover the main predictors of financial distress in the Gulf Cooperation Council (GCC) countries using a wide range of global factors and asset classes.
Design/methodology/approach
This study uses novel approaches that take into account extreme events as well as the nonlinear behavior of time series over various time intervals (i.e. short, medium and long term) and during boom and bust episodes. This study primarily uses the conditional value at risk (CoVaR), the quantile multivariate causality test and the partial wavelet coherence method. The data collection period ranges from March 2014 to September 2022.
Findings
US T-bills and gold are the primary factors that can increase financial stability in the GCC region, according to VaRs and CoVaRs. More proof of the predictive value of the oil, gold and wheat markets, as well as geopolitical tensions, uncertainty over US policy and volatility in the oil and US equities markets, is provided by the multivariate causality test. When low extreme quantiles or cross extreme quantiles are taken into account, these results are substantial and sturdy. Lastly, after adjusting for the effect of crude oil prices, this study’s wavelet coherence results indicate diminished long-run connections between the GCC stock market and the chosen global determinants.
Research limitations/implications
Despite the implications of the author’s research for decision makers, there are some limitations mainly related to the selection of Morgan Stanley Capital International (MSCI) GCC ex-Saudi Arabia. Considering the economic importance of the Kingdom of Saudi Arabia (KSA) in the region, the author believes that it would be better to include this country in the data to obtain more robust results. In addition, there is evidence in the literature of the existence of heterogeneous responses to global shocks; some markets are more vulnerable than others. This is another limitation of this study, as this study considers the GCC as a bloc rather than each country individually. These limitations could open up further research opportunities.
Originality/value
These findings are important for investors seeking to manage their portfolios under extreme market conditions. They are also important for government policies aimed at mitigating the impact of external shocks.
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Noel Scott, Brent Moyle, Ana Cláudia Campos, Liubov Skavronskaya and Biqiang Liu
The brief announcement that the Government had accepted that there should be regulations on open date marking of food, to come into effect in 1975, will come as no surprise. It is…
Abstract
The brief announcement that the Government had accepted that there should be regulations on open date marking of food, to come into effect in 1975, will come as no surprise. It is a timely reminder of what public pressure can achieve these days; how sustained advocacy and publicity by interested sectors of society—magistrates, local authorities, public health workers, consumer groups—can secure legislative changes which, in this case, run counter to trade opinions and the recommendation originally made by the Food Standards Committee that such a proposal was not practical and the existing law was an adequate protection. This was stated in the FSC Report on Food Labelling of 1964, although there was no indication of the evidence reviewed or that the subject had been considered very deeply; it was, after all, only a small fraction of the problem of food labelling control. It was also stated in this Report that in certain cases, date‐stamping of food could give to purchasers a false sense of security, “not justified by the conditions under which the food has been kept since manufacture”.
It is commonly claimed that the entrapment defense has never succeeded in a terrorism case. Yet that is not precisely true. In several post-9/11 cases, entrapment claims have…
Abstract
It is commonly claimed that the entrapment defense has never succeeded in a terrorism case. Yet that is not precisely true. In several post-9/11 cases, entrapment claims have contributed to full or partial acquittals, hung juries, and unexpectedly lenient sentences. Prosecutors have also dropped charges, setting convicted defendants free, to prevent successful entrapment defenses upon retrial. This chapter concludes that, despite the fragility and ambiguity of the right not to be entrapped, entrapment claims can achieve partial victories even in terrorism cases, due to the multiple discretion points at which entrapment can inform strategic or normative judgments.
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Ping Wei, Jingzi Zhou, Xiaohang Ren and Farhad Taghizadeh-Hesary
This paper aims to explore the quantile-specific short- and long-term effects of economic policy uncertainty (EPU) on the efficiency of the green bond market.
Abstract
Purpose
This paper aims to explore the quantile-specific short- and long-term effects of economic policy uncertainty (EPU) on the efficiency of the green bond market.
Design/methodology/approach
This study examines the long-term cointegration relationship and the short-term fluctuation relationship of EPU, WTI crude oil price (WTI) and European Union Allowances price (EUA) with the green bond market efficiency (GBE) using the quantile autoregressive distributed lag method. Additionally, the authors analyze the differences before and after the Covid-19 pandemic.
Findings
EPU has a significant positive impact on the GBE before the outbreak. However, during the crisis period, the impact of EPU and WTI was greatly weakened, whereas the impact of EUA was strengthened.
Practical implications
This paper demonstrates the dynamics of GBE and its influencing factors under different periods. The findings provide insights for market participants and policymakers to gain a clearer understanding of the green bond market.
Originality/value
This paper extends the study of green bonds by quantifying the GBE and elucidating the nonlinear relationship between efficiency and independent variables at different quantiles over different periods.
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Daniel Osorio-Barreto, Jose Mora and Lya Paola Sierra-Suárez
This study aims to investigate the determinants of inflation expectations in Colombia through a vector autoregression model with exogenous variables (VAR-X) and uses quarterly…
Abstract
Purpose
This study aims to investigate the determinants of inflation expectations in Colombia through a vector autoregression model with exogenous variables (VAR-X) and uses quarterly data for survey-based inflation expectations and different supply shocks.
Design/methodology/approach
We propose a VAR-X model. Despite data unavailability, we gathered quarterly data for the period 2005–2022 for the following variables: oil price, real exchange rate, headline inflation, output gap, policy interest rate and inflation expectations.
Findings
We identified significant responses to inflation expectations in the first quarter. Although we found a positive response of inflation expectations to the interest rate, the robustness tests show that the interest rate negatively affects inflation expectations in the long run. Additionally, we detected a pass-through effect regarding the positive response of inflation expectations to a real exchange rate shock and the inertia of inflation expectations to their own innovations.
Research limitations/implications
We must emphasize that reliable data from households would be preferred to follow the trend in international research and thus make feasible comparisons.
Practical implications
Inflation expectations play an important role in an inflation targeting scheme. Specifically, this scheme allows monitoring of how those approach the proposed target and how they change in the face of changes in total inflation, demand and supply shocks.
Originality/value
The inclusion of exogenous variables contributed to the stability of the model specification by capturing supply shocks not previously considered in the literature.
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Clive Bingley, Allan Bunch and Edwin Fleming
THE NAME OF Peter Labdon was first printed as Editor of NLW in the issue for July 1977. In this present issue it appears thus for the last time. In January 1983 Peter takes on the…
Abstract
THE NAME OF Peter Labdon was first printed as Editor of NLW in the issue for July 1977. In this present issue it appears thus for the last time. In January 1983 Peter takes on the honorary and taxing role of Treasurer of the Library Association, which he sees as conflicting with continuation as NLW's Editor, and I will eschew mischief and concede him the point.