Risky Winds: Investing in Wind Energy Projects in Pakistan
Investment in renewable energy sectors in many developing countries has grown significantly in the last decade. Developing countries now seek to attract investment in the renewable energy sector. Foreign investment in developing countries hinges on factors such as security of investment, entry barriers, cost of doing business, repatriation of profits, dispute resolution, etc. This is where the role of the government and policy-makers becomes critical. Unless a sector-specific policy is adopted that is not only coherent and adaptable but also extends the right incentives, foreign investors will remain reluctant to invest in the renewable energy sector even if a huge investment potential exists. This article highlights Pakistan as a case study to examine law and policy issues pertaining to investment and transaction costs associated with investing in a developing country that possesses significant wind energy potential.
“Reverse Permissibility” in the Renewable Energy Sector: Going Beyond the US-India Solar Cells Dispute
Abstract Recent years have witnessed a rise in conflict between WTO members over the use of state subsidies designed to promote the renewable energy sector. Government subsidies are seen by domestic polic-ymakers as a key catalyst in attracting foreign investment, building capacity, and meeting other domestic policy goals. However, subsidies and other state incentivization programmes often carry trade-distorting effects. This paper examines the current state of WTO law and jurisprudence on subsidies extended to achieve environmental goals, in particular the Canada-Renewable Energy/Feed-in Tariff case and the more recent India-Solar Cells case which higlights the localization problem in the renewable energy sector. The case outcome shows that the WTO continues to maintain the status quo by prioritizing free trade over environmental considerations. The paper also discusses the possibility of reform in the GATT/WTO framework for promotion of renewable energy initiatives while maintaining the integrity of the system.
Asymptotic Properties of Solutions to Second-Order Difference Equations of Volterra Type
<jats:p>We consider the discrete Volterra type equation of the form <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" id="M1"><mml:mi mathvariant="normal">Δ</mml:mi><mml:mo stretchy="false">(</mml:mo><mml:msub><mml:mrow><mml:mi>r</mml:mi></mml:mrow><mml:mrow><mml:mi>n</mml:mi></mml:mrow></mml:msub><mml:mi mathvariant="normal">Δ</mml:mi><mml:msub><mml:mrow><mml:mi>x</mml:mi></mml:mrow><mml:mrow><mml:mi>n</mml:mi></mml:mrow></mml:msub><mml:mo stretchy="false">)</mml:mo><mml:mo>=</mml:mo><mml:msub><mml:mrow><mml:mi>b</mml:mi></mml:mrow><mml:mrow><mml:mi>n</mml:mi></mml:mrow></mml:msub><mml:mo>+</mml:mo><mml:mrow><mml:msubsup><mml:mo stretchy="false">∑</mml:mo><mml:mrow><mml:mi>k</mml:mi><mml:mo>=</mml:mo><mml:mn mathvariant="normal">1</mml:mn></mml:mrow><mml:mrow><mml:mi>n</mml:mi></mml:mrow></mml:msubsup><mml:mrow><mml:mi>K</mml:mi><mml:mo stretchy="false">(</mml:mo><mml:mi>n</mml:mi><mml:mo>,</mml:mo><mml:mi>k</mml:mi><mml:mo stretchy="false">)</mml:mo><mml:mi>f</mml:mi><mml:mo stretchy="false">(</mml:mo><mml:msub><mml:mrow><mml:mi>x</mml:mi></mml:mrow><mml:mrow><mml:mi>k</mml:mi></mml:mrow></mml:msub><mml:mo stretchy="false">)</mml:mo></mml:mrow></mml:mrow></mml:math>. We present sufficient conditions for the existence of solutions with prescribed asymptotic behavior. Moreover, we study the asymptotic behavior of solutions. We use <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" id="M2"><mml:mi mathvariant="normal">o</mml:mi><mml:mo stretchy="false">(</mml:mo><mml:msup><mml:mrow><mml:mi>n</mml:mi></mml:mrow><mml:mrow><mml:mi>s</mml:mi></mml:mrow></mml:msup><mml:mo stretchy="false">)</mml:mo></mml:math>, for given nonpositive real <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML" id="M3"><mml:mrow><mml:mi>s</mml:mi></mml:mrow></mml:math>, as a measure of approximation.</jats:p>