"The UN's] Reducing Emissions from Deforestation and Forest Degradation (REDD) is an effort to create a financial value for the carbon stored in forests, offering incentives for developing countries to reduce emissions from forested lands and invest in low-carbon paths to sustainable development1." Suppose this program is adopted for tropical forests in Thailand. Local villages are paid a certain amount of money every year to not cut down trees and maintain a healthy forest ecosystem.
A. Using at least two of the models from class (solow model, Harrod Dormar, Lewis model, oring model, big push, Romer. Endogenous model) describe how the introduction the REDD program would affect output and development in Thailand.
B. What are the local and global benefits to REDD program.
C .What are some specific issues that a REDD program in Thailand may face?