You are on page 1of 4

The Journal of Energy and Development volume 36, number 1, autumn 2010 (copyright 2012) http://www.scribd.

com/doc/115681968/Journal-of-Energy-and-Development-vol-36-no-1-copyright-2012 Anthony L. D’Agostino and Benjamin K. Sovacool, “Unsold Solar: A Post-Mortem of Papua New Guinea’s Teacher’s Solar Lighting Project,” The Journal of Energy and Development, volume 36, no. 1 (autumn 2010, copyright 2012), pp. 1–21. http://www.scribd.com/doc/79020630 Abstract: Papua New Guinea’s electrification rate positions the country among the lowest in the world. Given its overall low population density, household income levels, and geophysical barriers, energy access is unlikely to be greatly expanded through grid extension in the near future. Renewable energy technologies present an alternative solution and have been promoted through various donor-driven efforts in recent years. One such example is the World Bank-assisted Teachers Solar Lighting Project, scheduled for implementation from 2005-2010, which aimed to sell 2,500 solar home lighting kits to out-posted school teachers while also supporting the growth of local, renewable energy industries. The project was terminated before its target end-date and only one solar kit was sold. To understand this apparent failure, we review the project by drawing from in-country fieldwork conducted in March 2010 and semistructured research interviews held with representatives from the implementing agencies, relevant public and private sector bodies, and school teachers targeted for participation. In addition to the traditional techno-economic barriers that impeded diffusion of renewable energy, we posit that social and cultural factors were also significant barriers. Features like the country’s wantok system, Papua New Guinea’s recent entrance into the cash economy, low financial literacy levels, and real concerns about equipment theft and vandalism provide additional explanatory power over the revealed disinterest in household solar power. Keywords: Asia Pacific, energy security, Papua New Guinea, renewable energy, solar energy, World Bank Mohamed Nagy Eltony, “Banking and Financial Sector Development: A Case Study of Kuwait,” The Journal of Energy and Development, volume 36, no. 1 (autumn 2010, copyright 2012), pp. 23– 34. http://www.scribd.com/doc/115609283/%E2%80%9CBanking-and-Financial-Sector-Development-ACase-Study-of-Kuwait-%E2%80%9D-by-Mohamed-Nagy-Eltony Abstract: The aim of this paper is to assess the operational efficiency of the commercial banks in Kuwait from 2000 to 2005 in order to anticipate their ability to compete with foreign banks in the future. The study provides estimates of the technical efficiency of Kuwaiti banks by analyzing how well they use physical capital, labor, and financial resources to generate earnings. A stochastic cost frontier approach is used to estimate technical efficiency of Kuwaiti banks. Using earnings as output and fixed assets, labor, and financial capital as inputs, the study has found that banks produce earnings at constant returns to scale and hence have less to gain from increasing scale of production through merging with other banks than from reducing their technical inefficiency. Except for the largest two banks, National Bank of Kuwait and Gulf Bank, as well as Bank Burgan, there is room for improving the technical efficiency of the rest of the institutions. Furthermore, when accounting for the differences in technical inefficiency between banks,

the adopted measure of inefficiency has been linked to some relevant variables. The results show that larger bank size, higher share of equity in capital, and greater profitability are associated with better efficiency. The results emphasis the need to increase technical efficiency by all the banks in order to better meet the challenge of increased competitive pressure. Keywords: X-efficiency, Kuwaiti banks, financial development, stochastic cost frontier approach

Henry Thompson, “Economic Growth with a Nonrenewable Energy Resource,” The Journal of Energy and Development, volume 36, no. 1 (autumn 2010, copyright 2012), pp. 35–43. http://www.scribd.com/doc/115610577/%E2%80%9CEconomic-Growth-with-a-Nonrenewable-EnergyResource-%E2%80%9D-by-Henry-Thompson Abstract: This paper adds a nonrenewable energy resource to capital and labor in the neoclassical growth model. The nonrenewable resource introduces its depletion dynamics and expands the influence of input substitution along the growth path. Optimal depletion implies a rising resource price but investment or labor growth may raise resource extraction along the growth curve. Substitution between inputs plays the critical role in model dynamics. The paper develops the conditions for intergenerational equity, the tragedy of the commons, and a myopic resource owner. Keywords: economic growth, nonrenewable resource, depletion Mohammed A. Al-Sahlawi, “Oil Price and the U.S. Dollar: A Survey of the Empirical Relationship Estimates and Alternative Oil-Pricing Currencies,” The Journal of Energy and Development, volume 36, no. 1 (autumn 2010, copyright 2012), pp. 45–62. http://www.scribd.com/doc/115673731/%E2%80%9COil-Price-and-the-U-S-Dollar-A-Survey-of-theEmpirical-Relationship-Estimates-and-Alternative-Oil-Pricing-Currencies-by-Mohammed-A-Al-Sahlawi Abstract: The vast research interest in testing for the existence of a co-integrating relationship between oil price and the U.S. dollar exchange rate demonstrates the need for a thorough survey. The purpose of this paper is to review the most available empirical relationship estimates. The survey shows different results with respect to the estimates and the causality direction. These variations are due to differing functional forms, estimation periods, data sources, and estimation methods. One major implication of the oil price and dollar relationship is oil-pricing currency. Numerous alternative oil-pricing currencies are surveyed and the U.S. dollar is found to be the most practical. Keywords: oil price, U.S. dollar exchange rate, oil pricing, oil-pricing alternative currencies Nourah AlYousef, “The Prominent Role of Saudi Arabia in the Oil Market from 1997 to 2011,” The Journal of Energy and Development, volume 36, no. 1 (autumn 2010, copyright 2012), pp. 63–84. http://www.scribd.com/doc/115674701/%E2%80%9CThe-Prominent-Role-of-Saudi-Arabia-in-the-OilMarket-from-1997-to-2011-%E2%80%9D-by-Nourah-AlYousef Abstract:

With the world’s largest crude oil production capacity, Saudi Arabia can increase its oil output during both demand surges and supply shocks. Oil is critical to the Saudi Arabian economy. Hence, to preserve the importance of oil in the global energy mix, Saudi Arabia attempted to moderate the price of oil and thereby continue the growth of demand. Because the spare capacity of the Organization of Petroleum Exporting Counties (OPEC) declined and non-OPEC supply experienced low growth throughout the 1990s, Saudi Arabia has more control of the oil market. This paper attempts to analyze the role of Saudi Arabia in the oil market by considering the swing producer model for the period from 1997-2010. Using the bounds testing approach to co-integration within the autoregressive distributed lag (ARDL) framework allows us to utilize a mixture of variables that are integrated to different degrees. The resulting analysis shows that Saudi Arabia acted as a swing producer in the global oil market from January 1997 to December 2010. Keywords: Saudi Arabia, swing producer, oil market, autoregressive distributed lag (ARDL), cointegration, price of oil, oil supply, oil policy, OPEC, producer model Hodjat Ghadimi, “Global Impact of Energy Use in Major Oil Economies: A Modeling Framework,” The Journal of Energy and Development, volume 36, no. 1 (autumn 2010, copyright 2012), pp. 85–97. http://www.scribd.com/doc/115675164/%E2%80%9CGlobal-Impact-of-Energy-Use-in-Major-OilEconomies-A-Modeling-Framework-%E2%80%9D-by-Hodjat-Ghadimi Abstract: There is an extensive body of literature on the security of supplies and flow of energy from the major oil economies clustered in the Middle East, but much less attention has been paid to these countries as consumers of energy. These economies have among the world’s highest per-capita energy consumption, and energy intensity has been rising only in this region. With growing economic interdependence, the energy consumption in these economies has significant global implications. To explore choices of improving energy efficiency in energy-rich countries of the Middle East, this study outlines an integrated modeling framework for analyzing the technology-energy-environment-economy chain in these economies. This framework consists of an input-output process-flow model and an optimal depletion computable general equilibrium (CGE) model. The main focus of this paper is to describe the theoretical structure of the class of CGE model proposed for this modeling framework. Keywords: oil economies, energy-environment-economy interactions, energy intensity, Middle East, input-output modeling, computable general equilibrium (CGE) models, optimal depletion, development planning, energy consumption Ernesto Ferro, “The Dragon’s Approach: The Future of Chinese Investments in the South American Region,” The Journal of Energy and Development, volume 36, no. 1 (autumn 2010, copyright 2012), pp. 99–133. http://www.scribd.com/doc/112111628/%E2%80%9CThe-Dragon%E2%80%99s-Approach-The-Futureof-Chinese-Investments-in-the-South-American-Region-%E2%80%9D-by-Ernesto-Ferro

Abstract: This article studies two aspects of the economic relationship between China and South American countries—bilateral trade and foreign direct investment (FDI)—with particular focus on the 2000-2010

time period. We offer an overview of the growth of China’s economy and how it is affecting the commodity and energy trade flows and investments in South America. Additionally, we explore how the arrival of China to the global commodity sector affects the ability of South American countries to compete in world markets, both in terms of exports and the ability to attract FDI, using studies conducted on the issues that offer critical assessments. Moreover, we present a series of analyses that confirm and deepen the conclusions offered in some of these earlier works. We find that there is an emerging consensus in reference to China and the South American countries in terms of trade and investment flows; China has accounted for a significant portion of the investment and export drive that the region has experienced since 2000. However, even with South American exports to China reaching higher levels than imports, with respect to global competitiveness these nations are significantly threatened by China’s exports in local and international markets. Keywords: Chinese investment in South America, foreign direct investment, bilateral trade, Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Venezuela, Peru, Paraguay, Guyana, French Guiana, Suriname, Uruguay