SES # | TOPICS | READINGS | |
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I. Economics of Public Goods and Infrastructure | |||
1 | Infrastructure in Crisis: History and Introduction |
Required ReadingsTorrisi, G. "Public Infrastructure: Definition, Classification and Measurement Issues." Economics, Management and Financial Markets 4, no. 3 (2009): 100–24. ( Moteff, J., et al. "Critical Infrastructures: What Makes an Infrastructure Critical? Report for Congress RL31556." The Library of Congress. 29 January, 2003. ( Suggested ReadingsHeintz, J., et al. "How Infrastructure Investments Support the U.S. Economy: Employment, Productivity, and Growth. Political Economy Research Institute." University of Massachusetts, Amherst, 2009. ( Canning, David. "A Database of World Infrastructure Stocks, 1950–95." Policy Research Working Paper no. 1929. World Bank. American Society of Civil Engineers. |
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2 | Infrastructure, Public Goods, and Market Failure |
Required ReadingsHolcombe, Randall. "A Theory of the Theory of Public Goods." Review of Austrian Economics 10, no. 1 (1997): 1–22. ( Krueger, Anne O. "Government Failures in Development." Journal of Economic Perspectives 4, no. 3 (1990): 9–23. Frischmann, Brett M. "An Economic Theory of Infrastructure and Commons Management." Minnesota Law Review 89 (2005): 917–1030. (Skim pages 917–79 only). Suggested Readings
Samuelson, Paul A. "The Pure Theory of Public Expenditure." Review of Economics and Statistics 36, no. 4 (1954): 387–9. ( Sugden, Robert. "Suckers, Free-Riders, and Public Goods." Humane Studies Review 7, no. 1 (1991/92). |
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3 | Infrastructure and Regulations |
Required ReadingsHardin, Garrett. "The Tragedy of the Commons." Science 162 (1968): 1243–8. ( Posner, Richard A. "Theories of Economic Regulation." The Bell Journal of Economics and Management Science 5, no. 2 (1974): 335–58. United Nations. "The Economic Regulation of Facilities and Services." Chapters 1 and 3 in Bangkok: United Nations—Economic and Social Commission for Asia and the Pacific. 2001. Suggested ReadingsCubbin, J., and J. Stern. "Regulatory Effectiveness: The Impact of Regulation and Regulatory Governance Arrangements on Electricity Industry Outcomes." Policy Research Working Paper 3536, World Bank, Washington DC, 2005. ( Svensson, Jakob. "Investment, Property Rights, and Political Instability: Theory and Evidence." European Economic Review 42, no. 7 (1998): 1317–41. |
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II. Infrastructure, Development, and Technology | |||
4 | Infrastructure Investment and Economic Growth |
Required ReadingsEsfahani, H. S., and M. T. Ramirez. "Institutions, Infrastructure, and Economic Growth." Journal of Development Economics 70, no. 2 (2003): 443–77. Gramlich, Edward M. "Infrastructure Investment: A Review Essay." Journal of Economic Literature 32, no. 3 (1994): 1176–96. Department of the Treasury and the Council of Economic Advisers. "An Economic Analysis of Infrastructure Investment." Department of the Treasury and the Council of Economic Advisers. October 11, 2010. (
Suggested Readings
Bramati, M. C., and D. Veredas. The Impact of Infrastructure on Growth in East Asia: Technical Report. Mimeo, World Bank, 2006. Cadot, O., L. H. Röller, et al. "Contribution to Productivity or Pork Barrel? The Two Faces of Infrastructure Investment." Journal of Public Economics 90, no. 6–7 (2006): 1133–53. Hulten, C. R. "Infrastructure Capital and Economic Growth: How Well You Use It May Be More Important Than How Much You Have." NBER Working Paper No. 5847. December 1996. |
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5 | Infrastructure and Development |
Required Readings
Estache, A. "Infrastructure: A Survey of Recent and Upcoming Issues." Rethinking Infrastructure for Development—Annual World Bank Conference on Development Economics. World Bank, 2007, pp. 47–82.( Ali, I., and E. M. Pernia. "Infrastructure and Poverty Reduction—What is the Connection?" ERD Policy Brief No. 13. Manila: Asian Development Bank, 2003. Suggested ReadingsMcKenzie, David, and Dilip Mookherjee. "The Distributive Impact of Privatization in Latin America: Evidence from Four Countries." Economía 3 (2003): 161–233. ( Briceño-Garmendia, C., A. Estache, and N. Shafik. "Infrastructure Services in Developing Countries: Access, Quality, Costs, and Policy Reform." Policy Research Working Paper 3468, World Bank, 2004. Robinson, J. A., and R. Torvik. "White Elephants." Journal of Public Economics 89, no. 2–3 (2005): 197–210. |
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6 | Infrastructure and Regional Development |
Required ReadingsMunnell, A. H. "How Does Public Infrastructure Affect Regional Economic Performance?" New England Economic Review 34 (1990): 2–22. Eberts, R. W. "Public Infrastructure and Regional Economic Development." Economic Review Q1 (1990): 15–27. ( Fan, S., and X. Zhang. "Infrastructure and Regional Economic Development in Rural China." China Economic Review 15, no. 2 (2004): 203–14. Ghosh, B., and P. De. "Investigating the Linkage between Infrastructure and Regional Development in India: Era of Planning to Globalization." Journal of Asian Economics 15, no. 6 (2005): 1023–50. Suggested ReadingsEberts, R. W. "Estimating the Contribution of Urban Public Infrastructure to Regional Growth." Working Paper of the Federal Reserve Bank of Cleveland no. 8610, 1986. ( Polenske, K. R., et al. An Assessment of Public Infrastructure in Massachusetts. Joint Center for Urban Studies of the Massachusetts Institute of Technology and Harvard University, 1983. |
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7 | Infrastructure, Technologies, and Innovations |
Required Readings
Tassey, G. "Modeling and Measuring the Economic Roles of Technology Infrastructure." Economics of Innovation and New Technology 17, no. 7–8 (2008): 615–29. Flyvbjerb, B. "Policy and Planning for Large Infrastructure Projects: Problems, Cures, Causes." World Bank Policy Research Working Paper 3781, World Bank, 2005. Manley, K. "Applying the Open Innovation System Concept to Infrastructure Projects." In Proceedings of the Melbourne 2010 Knowledge Cities World Summit, Melbourne, 2010, 417–27. Rouach, D., and D. Saperstein. "Alstom Technology Transfer Experience: The Case of the Korean Train Express (KTX)." International Journal of Technology Transfer and Commercialisation 3, no. 3 (2004): 308–23. Briceño-Garmendia, C., A. Estache, and N. Shafik. "Infrastructure Services in Developing Countries: Access, Quality, Costs, and Policy Reform." Policy Research Working Paper 3468, World Bank, 2004. Suggested ReadingsSmith, A., Jan-Peter Voß, et al. "Innovation Studies and Sustainability Transitions: The Allure of the Multi-level Perspective and its Challenges." Research Policy 39, no. 4 (2010): 435–48. |
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III. Infrastructure Financing, Funding and Delivery | |||
8 | Infrastructure Financing |
Required ReadingsEstache, A. "Infrastructure Finance in Developing Countries: An Overview." European Investment Bank Papers 15, no. 2 (2010): 60–89. Canada West Foundation. New Tools for New Times: A Sourcebook for the Financing, Funding, and Delivery of Urban Infrastructure. Canada West Foundation, 2006, pp. 37–71; skim 3–36 if interested. Chan, Chris, Danny Forwood, Heather Roper, and Chris Sayers. "Public Infrastructure Financing: An International Perspective." Chapter 2 in Staff Working Paper. Productivity Commission, Australian Government, 2009. ( Suggested Readings
Wu, W. "Urban Infrastructure Financing and Economic Performance in China." Urban Geography 31, no. 5 (2010): 648–67. ( Ehrlich, E., and F. G. Rohatyn. "A New Bank to Save Our Infrastructure," The New York Review of Books. October 9, 2008. |
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9 | Infrastructure Funding |
Required ReadingsCanada West Foundation. New Tools for New Times: A Sourcebook for the Financing, Funding, and Delivery of Urban Infrastructure. Canada West Foundation, 2006, pp. 72–136. Hanak, Ellen, and Kim Rueben. Funding Innovations for California's Infrastructure: Promises and Pitfalls. Research Paper 06–01. The Keston Institute for Infrastructure Research Paper Series, 2006. Suggested ReadingsFoldvary, Fred E. "Infrastructure: Optimal Private and Governmental Funding and Provision." Economic Affairs 25, no. 1 (2008): 25–30. Nunn, Samuel. "Budgeting for Public Capital." Journal of Urban Affairs 12, no. 4 (2008): 327–44. Washington State Legislature. Final Report on Public Infrastructure Programs and Funding Structures. Study Committee on Public Infrastructure Programs and Funding Structures. Olympia, WA, 2007. ( |
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10 | Infrastructure Delivery |
Required ReadingsCanada West Foundation. New Tools for New Times: A Sourcebook for the Financing, Funding, and Delivery of Urban Infrastructure. Canada West Foundation, 2006, pp. 137–60.
Suggested ReadingsBardhan, Pranab, and Dilip Mookherjee. "Decentralization and Accountability in Infrastructure Delivery in Developing Countries." Economic Journal 116, no. 508 (2006): 101–27. (
Werner, Jan, and David Nguyen-Thanh. "Municipal Infrastructure Delivery in Ethiopia: A Bottomless Pit or an Option to Reach the Millennium Development Goals?" Working Paper 01-2007. Institute of Local Public Finance, 2007. |
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11 | Project Financing |
Required ReadingsGershi, Henrique, and Jaime Sabal. "An Introduction to Project Finance in Emerging Markets." IESA Working paper No. 29. Caracas, Venezuela, 2006. (
Matsukawa, T., and O. Habeck. "Review of Risk Mitigation Instruments for Infrastructure Financing and Recent Trends and Developments." Trends and Policy Options No. 4, 2007. (Read pages 1–16). ( Suggested ReadingsAhmed, P. A., et al. Chapter 1 in "Project Finance in Developing Countries." International Finance Corporation, 1999. Beidleman, et al. "On Allocating Risk: The Essence of Project Finance." Sloan Management Review 31, no. 3 (1990): 47–55. Brealey, R. A., et al. "Using Project Finance to Fund Infrastructure Investments." Journal of Applied Corporate Finance 9, no. 3 (2005): 25–39. |
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12 | Financing Energy Infrastructure |
Required ReadingsUNEP. "Financial Risk Management Instruments for Renewable Energy Projects." Summary document. United Nations Environment Programme, 2004. (Read pages 12–44). ( Bloomberg New Energy Finance. "Crossing the Valley of Death." Solutions to the next generation clean energy project financing gap. 21 June, 2010. Jamison, E. "From Innovation to Infrastructure: Financing First Commercial Clean Energy Projects." CalCEF, 2010. ( Suggested ReadingsMilken Institute. "Financial Innovations for Energy Infrastructure: The Grid, Renewables and Beyond." Milken Institute, 2010. |
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IV. The Energy System | |||
13 | The Energy Chain and Market, Part I |
Required ReadingsAsif, M., and T. Muneer. "Energy Supply, Its Demand, and Security Issues for Developed and Emerging Economies." Renewable and Sustainable Energy Reviews 11, no. 7 (2007): 1388–413. National Petroleum Council. Executive summary, chapters 1 and 2 in "Facing the Hard Truths About Energy: A Comprehensive View to 2030 of Global Oil and Natural Gas." July 18, 2007. Suggested ReadingsBlanchard, O. J., and J. Galí. "The Macroeconomic Effects of Oil Price Shocks: Why Are the 2000s So Different from the 1970s?" Paper 07–011, MIT Center for Energy and Environmental Policy Research, 2007. ( Department of Trade and Industry. Chapter 1 in "Meeting the Energy Challenge: A White Paper on Energy." HMSO, 2007. ( Pindyck, R. S. "The Long-Run Evolution of Energy Prices." The Energy Journal 20, no. 2 (1999): 1–27. ( |
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14 | The Energy Chain and Market, Part II |
Required ReadingsEnergy Information Administration. Annual Energy Outlook 2009 with Projections to 2030. Official Energy Statistics from the U.S. Government, 2009. Chapters 2 and 3 (Market Trends in Economic Activity, and Energy Demand Projections) only. ( UNDP, UNDESA, and World Energy Council. World Energy Assessment: Overview 2004 Update. UNDP, 2004. Parts I and II only. Suggested Readings
Odell, P. R. "The Global Energy Market in the Long Term: The Continuing Dominance of Affordable Non-Renewable Resources." Energy Exploration and Exploitation 18, no. 5 (2000): 599–615. Salant, Stephen W. "The Economics of Natural Resource Extraction: A Primer for Development Economists." The World Bank Research Observer 10, no. 1 (1995): 93–111. Smith, J. L. "World Oil: Market or Mayhem?" Working Paper 08–015. MIT Center for Energy and Environmental Policy Research, 2008. UNDP, UNDESA, and World Energy Council. Chapter 8 in World Energy Assessment: Overview 2004 Update. UNDP, 2004. |
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15 | Issues and Challenges |
Required ReadingsCongressional Budget Office.Chapters 3 and 4 in The Economics of Climate Change. A Primer. The Congress of the United States, 2003. Holdren, J. P. "Meeting the Energy Challenge." Science 291, no. 5506 (2001): 945. United Nations. The Energy Challenge for Achieving the Millennium Development Goals. UN-Energy, 2005. ) Suggested ReadingsBabiker, Mustafa, John M. Reilly, and Henry D. Jacoby. "The Kyoto Protocol and Developing Countries." Energy Policy 8, no. 1 (2000): 525–36. Intergovernmental Panel on Climate Change. Climate Change 2001: Impacts, Adaptation, and Vulnerability. Stavins, Robert N. Addressing Climate Change with a Comprehensive U.S. Cap and Trade System. Harvard University. JFK School of Government Working Paper RWP 07–053, 2008. ( Zweig, David, and B. Jianhai. "China's Global Hunt for Energy." Foreign Affairs, September/October 2005. |
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V. Energy and Long-term Development | |||
16 | Energy and Economic Development |
Required ReadingsJorgenson, Dale W. "The Role of Energy in Productivity Growth." The American Economic Review 74, no. 2 (1984): 26–30. Kauffmann, C. "Energy and Poverty in Africa." OECD Working Papers No. 8, 05/2005. OECD Development Center, 2005. Toman, M., and B. Jemelkova."Energy and Economic Development: An Assessment of the State of Knowledge." Working Paper 9. Stanford University Program on Energy and Sustainable Development, 2005. Suggested ReadingsAsafu-Adjaye, J. "The Relationship between Energy Consumption, Energy Prices, and Economic Growth: Time Series Evidence from Asian Developing Countries." Energy Economics 22, no. 6 (2000): 615–25. Cheng, B. S., and T. W. Lai. "An Investigation of Co-integration and Causality between Energy Consumption and Economic Activity in Taiwan." Energy Economics 19, no. 4 (1997): 435–44. Judson, Ruth A., Richard Schmalensee, and Thomas M. Stoker. "Economic Development and the Structure of Demand for Commercial Energy." MIT Center for Energy and Environmental Policy Research, 1998. ( Templet, Paul H. "Energy, Diversity, and Development in Economic Systems: An Empirical Analysis." Ecological Economics 30, no. 2 (1999): 223–33. |
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17 | Social Development and Sustainability Aspects |
Required ReadingsHoffert, Martin I., et al. "Energy Implications of Future Stabilization of Atmosphere CO2 Content." Nature 395 (1998): 881–4. Pachauri, S., and D. Spreng. "Energy Use and Energy Access in Relation to Poverty." CEPE Working Paper 25. Eidgenŏssische Technische Hochschule Zürich and École Polytechnique Fédérale de Lausanne, 2003. Sagar, A. D. "Alleviating Energy Poverty for the World's Poor." Energy Policy 33, no. 11 (2005): 1367–72. Suggested ReadingsLiao, Hua, Ying Fan, et al. "What Induced China's Energy Intensity to Fluctuate: 1997–2006?" Energy Policy 35, no. 9 (2007): 4640–9. Jaber, J. O., and S. D. Probert. "Energy Demand, Poverty, and the Urban Environment in Jordan." Applied Energy 68, no. 2 (2001): 119–34. Murthy, N. S., Manoj Panda, et al. "Economic Development, Poverty Reduction, and Carbon Emissions in India." Energy Economics 19, no. 3 (1997): 327–54. Suri, V., and D. Chapman. "Economic Growth, Trade, and Energy: Implications for the Environmental Kuznets Curve." Ecological Economics 25, no. 2 (1998): 195–208. Xiaohua, W., and F. Zhenmin. "Rural Household Energy Consumption with the Economic Development in China. Stages and Characteristic Indices." Energy Policy 29, no. 15 (2001): 1391–7. |
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VI. Energy Infrastructure | |||
18 | Energy Infrastructure: Needs and Urgencies in the United States |
Required ReadingsNational Commission on Energy Policy. Siting Critical Energy Infrastructure: An Overview of Needs and Challenges. White paper prepared by the staff of the NCEP, 2006. National Energy Technology Laboratory. "America's Energy Infrastructure: A Comprehensive Delivery System." NETL, 2001. ( Suggested ReadingsHibbard, P. J. U.S. Energy Infrastructure Vulnerability: Lessons from the Gulf Coast Hurricanes. Analysis Group, 2006. U.S. Congress. American Recovery and Reinvestment Act of 2009. Public Law 111–5–February 17, 2009. 111th Congress. Title IV only. ( |
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19 | Energy Infrastructure in Emerging and Other Advanced Economies |
Required Readings (choose two of the following)
European Commission. Transport and Energy Infrastructure in South East Europe. Directorate General for Energy and Transport, 2001. (
United Nations Economic and Social Commission for Asia and the Pacific. "Energy Infrastructure." Chapter 5 in Enhancing Regional Cooperation In Infrastructure Development Including That Related To Disaster Management. United Nations, 2006. ( Suggested Readings
Caspary, G. The Energy Sector in Latin America: Key Prospects, Risks, and Opportunities. Deutsche Bank Research, 2007. ( |
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VII. Energy Security Issues | |||
20 | Disruptions to Energy Supply |
Required Readings
Suggested ReadingsAntholis, W. J. "Memo to the President: Build a Secure Energy Future." Brookings Institution, 2008. Nuttall, William J., and Devon L. Manz. "A New Energy Security Paradigm for the Twenty-First Century." Technological Forecasting and Social Change 75, no. 8 (2008): 1247–59. ( Sagar, Ambuj D., Hongyan H. Oliver, and Ananth P. Chikkatur. "Climate Change, Energy, and Developing Countries." Vermont Journal of Environmental Law 7, no. 1 (2005). Watkins, G. "Oil Scarcity: What Have the Past Three Decades Revealed?" Energy Policy 34 (2006): 508–14. ( Williams, P. A. "Projections for the Geopolitical Economy of Oil after War in Iraq." Futures 38, no. 9 (2006): 1074–88. |
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21 | Infrastructure Protection, Natural Disasters, and Terrorist Threats |
Required ReadingsCornell, Phillip E. "Energy Security as National Security: Defining Problems Ahead of Solutions." Journal of Energy Security (2009). Perl, Raphael F. Protecting Critical Energy Infrastructures Against Terrorist Attacks: Threats, Challenges, and Opportunities for International Co-operation. Reinforced NATO Economic Committee Meeting, 2008. ( Yergin, Daniel. "Ensuring Energy Security." Foreign Affairs 85, no. 2 (2006): 69–82. Lieberthal, K., and H. Herberg. "China's Search for Energy Security: Implications for U.S. Policy." NBR Analysis 17, no. 1 (2006): 1–54. Suggested Readings
Huntington, Hillard G., and Stephen P. A. Brown. "Energy Security and Global Climate Change Mitigation." Energy Policy 32, no. 6 (2004): 715–8.
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VIII. Energy Security and Food Security Intertwined | |||
22 | Food vs. Fuel? |
Required ReadingsMitchell, Donald. "A Note on Rising Food Prices." Policy Research Working Paper 4682. The World Bank Development Prospects Group, 2008. Sachs, Ignacy. The Biofuels Controversy. Presented at the United Nations Conference on Trade and Development, 2007. UNCTAD/DITC/TED/2007/12. ( United Nations Economic and Social Commission for Asia and the Pacific. "Energy Security, Biofuels and Food Supply." United Nations, 2008. ( Suggested ReadingsAnderson, K., and C. Y. Peng. "Feeding and Fueling China in the 21st Century." World Development 26, no. 8 (1998): 1413–29. Farm Foundation. The 30-Year Challenge: Agriculture's Strategic Role in Feeding and Fueling a Growing World. Oak Brook, IL, 2008. Khan, A. R. "Interfacing Food and Energy Security: Bangladesh Perspective." Presented at NTS-Asia 2nd Annual Convention. Beijing, 2008. ( Pingali, Prabhu, Terri Raney, et al. "Biofuels and Food Security: Missing the Point." Review of Agricultural Economics 30, no. 3 (2008): 506–16. |
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23 | Emerging Issues and Policy Implications |
Required ReadingsSouth Center. Food and Energy Crisis: Time to Rethink Development Policy. Reflections from the High Level North-South Dialogue on Food and Energy Security. Geneva, 2008. United Nations. Chapter 6 in Achieving Sustainable Development and Promoting Development Cooperation. Department of Economic and Social Affairs. Office for ECOSOC Support and Coordination, 2008. ( Suggested ReadingsBanse, Martin, et al. "Impact of EU Biofuel Policies on World Agricultural and Food Markets." Presented at the 10th Annual Conference on Global Economic Analysis. Purdue University, 2007. Peters, J., and S. Thielmann. "Promoting Biofuels: Implications for Developing Countries." Energy Policy 36, no. 4 (2008): 1538–44. United Nations Food and Agriculture Organization. Declaration of the High-Level Conference on World Food Security: The Challenges of Climate Change and Bioenergy. Rome, June 2008. ( |
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IX. The Political Economy of Energy | |||
24 | Regulations, Constraints, and Political Processes of Energy Infrastructure |
Required ReadingsGabriele, A. "Policy Alternatives in Reforming Energy Utilities in Developing Countries." Energy Policy 32, no. 11 (2004): 1319–37. Estache, A., and M. Rossi. "Do Regulation and Ownership Drive the Efficiency of Electricity Distribution? Evidence from Latin America." Economics Letters 86, no. 2 (2005): 253–7. Walz, R. "The Role of Regulation for Sustainable Infrastructure Innovations: The Case of Wind Energy." International Journal of Public Policy 2, nos. 1–2 (2007): 57–88. Suggested Readings
Joskow, Paul L. "Incentive Regulation in Theory and Practice: Electricity Distribution and Transmission Networks." Prepared for the National Bureau of Economic Research Conference on Economic Regulation, 2007. ( Guerrero Compeán, R. "Fueling an Omnivorous Car: The Rise, Fall, and Rise of Brazil's Renewable Energy Industry." Industrial Performance Center Energy Innovation Working Paper Series, Massachusetts Institute of Technology, 2009.
Krueger, Anne O. "Government Failures in Development." Journal of Economic Perspectives 4, no. 3 (1990): 9–23. Molchanov, M. A., and Y. Yevdokimov. "The Political Economy of the Energy Sector in the Central Asia-Caspian Sea Region: A Conceptual Framework." Roundtable on Transnationality and the Conference Transnational Risks—A New Challenge for a Global Society, Berlin, 2004. Nivola, P. S. "The Political Economy of Nuclear Energy in the United States." CFE Policy Paper Series. The French Center on the United States, May, 2004. ( Bo, E. Dal, and M. Rossi. "Corruption and Inefficiency: Theory and Evidence from Electric Utilities." Journal of Public Economics 91, nos. 5–6 (2007): 939–62. Henisz, W. J., and B. A. Zelner. "Interest Groups, Veto Points and Electricity Infrastructure Deployment." International Organization 60 (2006): 263–86. Woodhouse, E. "Political Economy of International Infrastructure Contracting, Lessons from the IPP Experience." Program of Energy and Sustainable Development Working Paper 52. Stanford University, 2005. |