Suchergebnisse

AbstractSeeking to derive lessons for future policy processes on how climate change concerns can be integrated into sectoral policies to expedite policy approval, we applied the Multiple Streams Framework to analyze the forces and dynamics at work in the policy process of Brazil's National Biofuel Policy (known as RenovaBio). Based on an analysis of 123 newspaper articles citing "RenovaBio" and eleven semistructured interviews with stakeholders from the fuel sector, the research findings suggest that attaching RenovaBio to the country's climate commitments helped to secure policy approval and decrease public opposition to it. On the other hand, having multiple objectives without a clear priority made policy direction more diffuse and vulnerable to criticisms. We also found that the existence of multiple policy entrepreneurs, in the different stages of the political process and with complementary skills, helped to speed the legislative process.

This study sought to identify the main drivers of and barriers to attracting capital market investments to the infrastructure sector in Brazil. The research findings indicate that the incentives vary according to the type of investor. Individual investors are strongly attracted by the tax exemption provided for in Statute 1,2431/2011 to purchase incentivized debentures, and, today, they represent one of the main investors in infrastructure in the country. On the other hand, domestic pension funds have no incentives based on this piece of legislation (their investments are exempt from income tax). For these pension funds, the spread paid by the issuers of incentivized debentures is low. Foreign investors consider the investment environment in the country to be unfavorable due to factors such as high exchange rate volatility and political instability. Therefore, broader institutional reforms are needed to fill the gap in infrastructure investments and attract long-term investors. Green certification of infrastructure projects represents another interesting strategy for attracting investments, especially foreign investors. ; Este estudio buscó identificar las principales motivaciones y barreras para atraer inversiones del mercado de capitales al sector de infraestructura en Brasil. Entre los resultados de la investigación se encontró que los incentivos varían según el tipo de inversionista. Los inversionistas individuales son fuertemente atraídos por la exención de impuestos prevista en la Ley nº 12.431/2011 para la compra de debentures incentivados y hoy representan uno de los principales inversionistas en infraestructura del país. Los fondos de pensiones nacionales, por su parte, no están incentivados por la exención de la ley (sus inversiones están exentas del Impuesto a la Renta) y consideran bajo el margen pagado por los emisores de debentures incentivados. Los inversionistas extranjeros consideran que el ambiente de inversión en el país es desfavorable, debido a factores como la alta volatilidad del tipo de ...

AbstractThis paper measures the economic impacts of Brazil's climate mitigation strategies contained in its Nationally Determined Contribution (NDC). To do so, we employ the computable general equilibrium MIT Economic Projection and Policy Analysis model and simulate alternative carbon pricing scenarios (sectoral versus economy-wide carbon markets), set to achieve the country's overall emissions targets announced under the Paris Agreement. The results show relatively cheap emissions reductions from land-use changes and agriculture in the short run: the cost of the Brazilian NDC is predicted to be only 0.7 per cent of GDP in 2030. Further efforts to reduce carbon emissions beyond 2030 would require policy changes, since all the potential emissions reductions from deforestation would be finished and the capacity to expand renewable energy sources would be constrained. In this case, an economy-wide carbon pricing system would help substantially to avoid higher compliance costs.

Purpose This paper aims to explore the possible uses of economic instruments, other than water tariffs, to assist water management policy in Brazil. In particular, the paper focuses attention toward markets for use rights. Design/methodology/approach The research is based on water resources specialists' opinions and perceptions, collected through surveys (Delphi method) and a focus group, to understand if such an instrument is desirable and which roles could it play within Brazilian water basins. Findings Results suggest there is room and utility for markets for water use rights, although mostly on a temporary basis, localized, predominantly dealing with scarcity events and in conjunction with the other instruments under Brazil's National Water Policy. Originality/value Given the persistence of scarcity events in the country, the research represents a first step to understand if new instruments for water management are politically feasible and contribute to better delineate future investigations applied to specific water basins and their local conditions.

Abstract Purpose This paper aims to explore the possible uses of economic instruments, other than water tariffs, to assist water management policy in Brazil. In particular, the paper focuses attention toward markets for use rights. Design/methodology/approach The research is based on water resources specialists' opinions and perceptions, collected through surveys (Delphi method) and a focus group, to understand if such an instrument is desirable and which roles could it play within Brazilian water basins. Findings Results suggest there is room and utility for markets for water use rights, although mostly on a temporary basis, localized, predominantly dealing with scarcity events and in conjunction with the other instruments under Brazil's National Water Policy. Originality/value Given the persistence of scarcity events in the country, the research represents a first step to understand if new instruments for water management are politically feasible and contribute to better delineate future investigations applied to specific water basins and their local conditions.

Purpose
This paper aims to explore the possible uses of economic instruments, other than water tariffs, to assist water management policy in Brazil. In particular, the paper focuses attention toward markets for use rights.


Design/methodology/approach
The research is based on water resources specialists' opinions and perceptions, collected through surveys (Delphi method) and a focus group, to understand if such an instrument is desirable and which roles could it play within Brazilian water basins.


Findings
Results suggest there is room and utility for markets for water use rights, although mostly on a temporary basis, localized, predominantly dealing with scarcity events and in conjunction with the other instruments under Brazil's National Water Policy.


Originality/value
Given the persistence of scarcity events in the country, the research represents a first step to understand if new instruments for water management are politically feasible and contribute to better delineate future investigations applied to specific water basins and their local conditions.