Research

For many, integrating “decarbonization” into public policy, corporate and financial strategies has become a requirement, not an option — yet, what happens when the critical link between climate stability and decarbonization breaks?

How can electricity sector policymakers in developing countries ensure financial viability of utilities while also extending electricity access and minimizing the environmental impact of electricity supply? This study uses a mixed-method approach to analyze synergies and trade-offs between policies for financial reform of utilities, extending electricity access, and solar PV deployment in the case of Uttar Pradesh in India.

Capital Choices analyzes the creation of different SWFs from a comparative political economy perspective, arguing that different state-society structures at the sectoral level are the drivers for SWF variation. Juergen Braunstein focuses on the early formation period of SWFs, a critical but little understood area given the high levels of political sensitivity and lack of transparency that surround SWF creation. Braunstein’s novel analytical framework provides practical lessons for the business and finance organizations and policymakers of countries that have created, or are planning to create, SWFs.

Jacqueline L. Hazelton  details why the international jihadi terrorist threat to the United States is down since the al-Qaida attacks of 20 years ago. Not through war or other uses of organized violence, but through cooperation, use of legal and financial tools, and strengthening homeland defense and resilience.

This article examines both the premise and prescription of the argument to integrate renewable electricity in developing countries through elements of the standard model (such as a wholesale spot market, or an independent system operator for dispatch). This is done by highlighting the differences between power sector reform experiences in the developing and developed worlds, and the causal mechanisms underlying these differences.

In order to fully appreciate the global climate-change challenge that the Biden administration will face, Robert Stavins reflects on the history of international negotiations that brought us to this point.

President-elect Joe Biden’s decision to create a new cabinet-level position for climate-related issues — and to choose so prominent a figure as former Secretary of State John Kerry to fill it — demonstrates Biden’s sincerity over putting climate at the very center of U.S. foreign policy. It is easy to understate the importance of this appointment, given the flurry of czars created by most new administrations.

As economies begin to orient themselves towards recovery and growth in a post-COVID-19 era, they will first need to disentangle themselves from their prior bedfellows, the state, whose courtship was necessary for survival during the pandemic.  Such bedfellow relationships have become increasingly common as government intervention is urgently needed for economic stabilization. Governments have also embraced their new role with vigor. According to the IMF, as of April 2020, countries have committed around $8 trillion to combat the pandemic and to remedy its ill effects on economies and societies. Decisions about how this money will be spent will undoubtedly recalibrate the logic of capitalism for years to come. 

This policy brief describes the persistent challenge of poor electricity reliability in India and how it interacts with key regulatory policies, analyzes Delhi’s experience with outage compensation since 2017, and highlights areas for additional economic and policy research on this topic.

Juergen Braunstein and Sachin Silva argue that sovereign wealth funds may be central to governments' efforts to balance public responsibility with private interests in post-pandemic economies.