| Titre : | Deforestation and Seigniorage in Developing Countries: A Tradeoff? |
| Accompagne : | |
| Auteurs : | Jean-Louis Combes, Auteur ; Pascale Combes-Motel, Auteur ; Alexandru Minea, Auteur ; Patrick Villieu, Auteur |
| Type de document : | Working Paper |
| Mention d'édition : | December 2013 |
| Editeur : | Clermont-Ferrand : Centre d'études et de recherches sur le développement international (Cerdi), 2013 |
| Collection : | Études et Documents Cerdi, ISSN 2114-7957, num. 22 |
| Format : | 31 p. |
| Langues: | Anglais |
| Catégories : |
[Eurovoc] AGRICULTURE, SYLVICULTURE ET PÊCHE > forêt > politique forestière > protection de la forêt [Eurovoc] ENVIRONNEMENT > détérioration de l'environnement > dégradation de l'environnement > déboisement [Eurovoc] FINANCES > économie monétaire > politique monétaire |
| Tags : | seigniorage ; deforestation ; inflation ; developing countries ; panel data analysis |
| Résumé : | Most of countries covered by natural forests are developing countries, with limited ability to levy taxes and restrained access to international credit markets; consequently, they are amenable to draw heavily on two sources of government financing, namely seigniorage and deforestation revenues. First, we develop a theoretical model emphasizing a substitution effect between seigniorage and deforestation revenues. Second, a panel-data econometric analysis over the 1990-2010 period confirms our findings. Consequently, a tighter monetary policy hastens deforestation. Third, we extend the theoretical model and show that international transfers dedicated to forest protection can upturn the positive link between tighter monetary policies and deforestation, and then discuss the relevance of this finding with respect to recent institutional arrangements. |
| Axe de recherche : | Trajectoires de développement durable |
| En ligne : | https://halshs.archives-ouvertes.fr/halshs-00939273 |
Documents numériques (1)
 https://halshs.archives-ouvertes.fr/halshs-00939273/file/2013.22.pdf URL |
