About Farhad Taghizadeh-Hesary
Farhad Taghizadeh-Hesary is an associate professor of economics at Tokai University, Japan, and a visiting professor at Keio University, Japan.Economic impacts of the COVID-19 pandemic and oil price collapse
The recent collapse in oil prices in the global market was caused by a combination of supply and demand issues as well as uncertainty about the future, and has resulted in a crash in financial markets. But what are the reasons behind this collapse, and what impacts will it have on oil-exporting and oil-importing economies?
Trust-by-Design Investment: A novel Blockchain-based approach to ease green energy investments
To meet obligations under the Paris Agreement, major investments in renewable energy production and infrastructure are necessary. However, as public budgets are tight and because of Basel capital requirements, major public investments are unlikely to provide sufficient liquidity. Since most renewable energy projects are considered risky, many financiers are reluctant to lend to them or they lend at high interest rates. This lack of financing has to be overcome.
What are the reasons behind the decrease in solar module prices?
The solar photovoltaic energy market has seen huge growth in recent years. Unlike solar thermal energy, which harnesses heat from sunlight to generate electricity, solar photovoltaics or PV is a technology that converts sunlight directly into electricity. The annual worldwide solar PV electricity production increased from 4 terawatt hours (TWh) in 2005 to 247 TWh in 2015 (IEA 2017). In 2016, cumulative solar PV generated over 310 TWh, 26% higher than in 2015 and representing just over 1% of global power output.
Sustainable funding schemes for the development of waste management projects in Asia
For many years, cities have been the engines of economic growth in Asia. However, this growth has brought the immense challenge of the daily generation of millions of tons of solid waste, especially in mega cities. The amount of solid waste being generated in Asia is drastically increasing as 44 million people are being added to city populations every year, and many cities are placing burdens on municipal as well as central governments. By 2050, 50% of the world’s population will live in the Asia and Pacific region (ADB, 2011).
Volatility linkages between energy and food prices
Energy, especially from oil and its derivatives, is a key factor of production in an economy and is widely used in different sectors—including transportation, agriculture, and industry—in households, and as a raw material in the production of petrochemical products. As such, energy has great value and affects other commodity prices. Since the first oil price shock of 1973, examining the effects of changes in energy prices, especially of oil, on macro and microeconomic levels has become one of the most fundamental issues of energy economics (Taghizadeh-Hesary et al. 2013).
International remittances and poverty reduction
The World Bank (2014) estimates that international remittances to developing countries reached $436 billion in 2014. Remittances to the East Asia and the Pacific region and the South Asia region account for the largest and second-largest shares in the world. The authors examine the impact of international remittances on poverty reduction to determine whether such remittances contributed to a reduction in various indicators of poverty.
Hometown investment trust funds: A sustainable solution for financing green energy projects
The Fukushima Daiichi nuclear disaster was an energy accident at the Fukushima No. 1 Nuclear Power Plant in Fukushima, Japan, initiated primarily by the tsunami that followed the Tohoku earthquake on 11 March 2011 and led to a nuclear shutdown in the country. Japan substituted the loss of nuclear power with fossil fuels, such as oil, gas, and coal, and became more dependent on their imports and consumption.
Decline of oil prices and the negative interest rate policy in Japan
In February 2016, the Bank of Japan (BOJ), in order to reach a 2% inflation target, initiated a negative interest rate policy by increasing massive money supply through the purchase of long-term Japanese government bonds (JGBs). This policy flattened the yield curve of JGBs. Banks started to purchase government bonds less frequently, because of the negative yield for both short-term government bonds and even for long-term government bonds up to 15 years. On the other hand, a vertical investment–savings curve in the Japanese economy prevented the growth of corporate bank loans. Except for a few periods, the 2% inflation target could not be achieved. This paper examines this phenomenon, presents the reasons behind it, and offers solutions.
Do Japan’s oil consuming sectors still react to oil price movements?
Japan is almost fully dependent on energy imports. In March 2011, a devastating earthquake and tsunami hit eastern Japan and damaged the nuclear power plant in Fukushima. This disaster led to the shutdown of all nuclear power plants due to the lack of government safety approvals. Japan replaced this significant loss of nuclear power with energy generated from imported natural gas, low-sulfur crude oil, fuel oil, and coal.
Importance of SMEs in the Thai economy
Small and medium-sized enterprises (SMEs) play a significant role in the Thai economy. In 2012 there were 2.7 million SMEs in Thailand (see Figure 1) comprising 98.5% of total enterprises. In the same year, SMEs accounted for 37.0% of gross domestic product (GDP) and 80.4% of the workforce. Thai SMEs also contributed to 28.8% of total exports and 31.9% of total imports by value in 2012.
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