Luc Eyraud

Mr.Benedict J. Clements

Mr.Abdoul Wane

Ms.Changchang Zhang

This paper fills a gap in the macroeconomic literature on renewable sources of energy. It offers a definition of green investment and analyzes the trends and determinants of this investment over the last decade for 35 advanced and emerging countries. We use a new multi-country historical dataset and find that green investment has become a key driver of the energy sector and that its rapid growth is now mostly driven by China. Our econometric results suggest that green investment is boosted by economic growth, a sound financial system conducive to low interest rates, and high fuel prices. We also find that some policy interventions, such as the introduction of carbon pricing schemes, or "feed-in-tariffs," which require use of "green" energy, have a positive and significant impact on green investment. Other interventions, such as biofuel support, do not appear to be associated with higher green investment.

Who's Going Green and Why? Trends and Determinants of Green Investment

Ms.Kalpana Kochhar

Ms.Monique Newiak

Ms.Stefania Fabrizio

Mr.Gerd Schwartz

Mr.Philippe Wingender

Ms.Katrin Elborgh-Woytek

Mr.Kangni Kpodar

The proposed SDN discusses the specific macro-critical aspects of women’s participation in the labor market and the constraints that prevent women from developing their full economic potential. Building on earlier Fund analysis, work undertaken by other organizations and academic research, the SDN presents possible policies to overcome these obstacles in different types of countries.

Women, Work, and the Economy:Macroeconomic Gains from Gender Equity

Ms.Catherine A Pattillo

Ms.Yan M Sun

Mrs.Nujin Suphaphiphat

Mr.Andrew J Swiston

Mr.Robert Tchaidze

Valentina Flamini

Ms.Laure Redifer

Mr.Harald Finger

This paper examines water challenges, a growing global concern with adverse economic and social consequences, and discusses economic policy instruments. Water subsidies provided through public utilities are estimated at about $456 billion or 0.6 percent of global GDP in 2012. The paper suggests that getting economic incentives right, notably by reforming water pricing, can go a long way towards encouraging more efficient water use and supporting needed investment, while enabling policies that protect the poor. It also discusses pricing reform options and emphasizes an integrated and holistic approach to manage water, going beyond the water sector itself. The IMF can play a helpful role in ensuring that macroeconomic policies are conducive to sound water management.

Issues in Managing Water Challenges and Policy Instruments

Is the Glass Half Empty Or Half Full?

Mr.Benedict J. Clements

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