The Political Economy of Australia's Climate Change and Clean Energy Legislation: Lessons Learned

Spencer, Thomas A.; Sénit, Carole‐Anne; Drutschinin, Anna

doi:10.2139/ssrn.2198316

Cited by 4 publications

(2 citation statements)

References 25 publications

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“…One of such channels is the demand and income effect means. Through this means, it is believed that increase in energy price directly and indirectly affect the disposable income level and spending by household (Spencer et al, 2012;Michieka, Gearhart III, & Ampatzidis, 2021). Similarly, energy price affects the construction costs and housing maintenance cost which in turns affect the housing price.…”

Section: Introductionmentioning

confidence: 99%

Housing prices in South African economy: Investigating macroeconomic drivers using time-varying approach

Kapingura,

Sanusi

2024

Journal of International Studies

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Despite being one of the least liquid assets, housing is unarguably the most significant asset class and the biggest contributor to household wealth. The goal of the current empirical research is to examine the macroeconomic drivers of housing prices. Thus, the study examines the impact of macroeconomic variables and oil prices on housing prices using monthly time series data from 2003(M1) to 2023(M3). Generalized Autoregressive Score Model (GAS) is employed to appraise the time-varying relationships between housing prices and macroeconomic variables, as well as housing prices and oil prices. The findings resulting from the empirical analysis indicate that the housing market in South Africa is substantially influenced by macroeconomic factors and oil prices. Therefore, the South African government and policy makers must maintain strong macroeconomic policy formulation and environment as they have an impact on housing prices, which, in turn, have an impact on the welfare and quality of life of the populace.

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Section: Introductionmentioning

confidence: 99%

Housing prices in South African economy: Investigating macroeconomic drivers using time-varying approach

Kapingura,

Sanusi

2024

Journal of International Studies

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“…The Clean Energy Future Plan was, however, introduced in contested circumstances . Carbon pricing as an emissions reduction measure had taken a turn for the worse when conservative Opposition MP Tony Abbott politicized the notion in his successful bid to challenge his party leader, Malcolm Turnbull, on the way to becoming Prime Minister (For an incisive explanation of the circumstances of the Clean Energy Future Plan , see Ref ). This loss of bi‐partisan consensus was enormously damaging to climate action, notwithstanding the remaining consensus on a modest emissions reduction target (ERT) of 5% on 2000 levels by 2020, and the retention of a renewable energy target (RET).…”

Section: Introductionmentioning

confidence: 99%

Up and down with climate politics 2013–2016: the repeal of carbon pricing in Australia

Crowley

2017

WIREs Climate Change

113

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The 2013 election of Australia's conservative Abbott Coalition (Liberal and National parties) government saw the repeal of carbon pricing, (which had previously been implemented by the Labor government in 2012), assume the first order of business. This Focus article reviews expert and political commentary and analysis of the repeal, and provides an overview of the Abbott government's dismantling and attempted dismantling of other climate initiatives. It reviews commentary and critiques of the government's substitute Direct Action (DA) policy and its capacity to reduce emissions. The views of the international community on the Abbott government's repositioning of Australia's climate policy are considered, as are the prospects of achieving effective emissions reduction policy under Abbott's successor, Prime Minister Malcolm Turnbull. The paper notes the role of the Senate in both assisting and frustrating government reforms, as well as aspects of policy continuity that could see a form of carbon pricing revived in future. It explores the correlation between the political ascension of Tony Abbott and his rejection of carbon pricing, whether his substitute DA mechanism will effectively reduce emissions, and the adequacy of Australia's current global climate policy aspirations.

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Climate policy and the ‘carbon haven’ effect

Branger

Quirion

2013

WIREs Climate Change

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International audienceIn a world with uneven climate policies, the carbon price differentials across regions could shift the production of energy-intensive goods from carbon-constrained countries to " carbon havens " , or countries with laxer climate policy. This would reduce the environmental benefits of the policy (carbon leakage) while potentially damaging the economy (competitiveness concerns). A review on these questions is provided in this article. First we discuss the main terms involved such as carbon leakage, competitiveness, sectors at risk or climate spillovers. Then we analyse the studies evaluating the carbon leakage risk. Most ex ante modelling studies conclude to leakage rates in the range of 5-20% (if no option to mitigate leakage is implemented) whereas ex post econometric studies haven't revealed statistically significant evidence of leakage. Different policy options to face these issues are then examined with an emphasis on Border Carbon Adjustments (BCA). BCA consist in reducing the carbon price differentials of goods traded between countries. Properly implemented, they can reduce leakage (by around 10 percentage points in ex ante modelling studies) in a cost-effective way but are controversial because they shift a part of the abatement costs from abating countries to non-abating countries. Their impact on international negotiations is unclear: they could encourage third countries to join the abating coalition or trigger a trade war. Besides, their consistency with WTO rules is highly contentious among legal experts

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The Political Economy of Australia's Climate Change and Clean Energy Legislation: Lessons Learned

Cited by 4 publications

References 25 publications

Housing prices in South African economy: Investigating macroeconomic drivers using time-varying approach

Housing prices in South African economy: Investigating macroeconomic drivers using time-varying approach

Up and down with climate politics 2013–2016: the repeal of carbon pricing in Australia

Climate policy and the ‘carbon haven’ effect

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