This paper attempts to investigate the short-and long-run causality issues among oil consumption, CO 2 emissions, and economic growth in the Philippines by using time series techniques and annual data for the period 1965-2012. Tests for unit root, co-integration, and Granger-causality tests based on an error-correction model are presented. Three important findings emerge from the investigation. First, there is bi-directional causality between oil consumption and economic growth, which suggests that the Philippines should endeavor to overcome the constraints on oil consumption to achieve economic growth. Second, bi-directional causality between oil consumption and CO 2 emissions is found, which implies that the Philippines needs to improve efficiency in oil consumption in order not to increase CO 2 emissions. Third, uni-directional causality running from CO 2 emissions to economic growth is detected, which means that growth can continue without increasing CO 2 emissions.

Abstract:The meteorological service (MS) in Korea is provided by the Korea Meteorological Administration (KMA), a governmental organization. This study attempts to measure the economic value of the national MS in the Korean household sector. Economic theory indicates that the economic value of a service is the area under the demand curve, which is the sum of the actual expenditure and the additional willingness to pay (WTP) for the service. The actual expenditure is well known, but the additional WTP is not. Thus, we assess the additional WTP for the national MS, conducting a contingent valuation survey of 1000 randomly selected households in Korea in 2014. We use a one-and-one-half-bound dichotomous choice question to derive the WTP responses and apply a spike model to deal with WTP responses of zero. The mean additional WTP per household is computed as KRW 860 (USD 0.75) per month and is statistically significant at the 1% level. Given that the monthly expenditure for the MS is KRW 1459 (USD 1.26) per household as of 2013, the economic value of the national MS is computed as KRW 2319 (USD 2.01) per household per month. Expanding the value to the national population gives us KRW 513.6 billion (USD 444.9 million) per year.

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Abstract:The photovoltaic (PV) power supplies renewable and sustainable electricity without greenhouse gases and air pollutants emissions. However, the potential environmental impacts caused by PV power plants can negatively affect both the ecosystem and human life. Thus, the environmental costs arising from the PV power plants should be measured and the efforts to reduce them should be made. To this end, this article seeks to assess the environmental costs of PV power plants using a choice experiment (CE). Four attributes chosen for this purpose are habitat loss, landscape destruction, hazardous materials, and light pollution. The trade-offs between each attribute and price were successfully assessed in the CE survey of 1000 South Korean respondents. The environmental costs of a one percentage point increase in habitat loss, landscape destruction, hazardous materials, and light pollution caused by PV power plants are estimated to be KRW 135 (USD 0.12), 53 (0.05), 122 (0.11), and 158 (0.14), respectively, per household per month. The findings can provide policymakers with useful information for both evaluating and planning the PV power plant-related policies.

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