The Institutional Economics of Market-Based Climate PolicyElsevier, 2004 M08 10 - 340 pages The objective of this book is to analyze the institutional barriers to implementing market-based climate policy, as well as to provide some opportunities to overcome them. The approach is that of institutional economics, with special emphasis on political transaction costs and path dependence. Instead of rejecting the neoclassical approach, this book uses it where fruitful and shows when and why it is necessary to employ a new or neo-institutionalist approach. The result is that equity is considered next to efficiency, that the evolution and possible lock-in of both formal and informal climate institutions are studied, and that attention is paid to the politics and law of economic instruments for climate policy, including some new empirical analyses. The research topics of this book include the set-up costs of a permit trading system, the risk that credit trading becomes locked-in, the potential legal problem of grandfathering in terms of actional subsidies under WTO law or state aid under EC law, and the changing attitudes of various European officials towards restricting the use of the Kyoto Mechanisms. |
From inside the book
Results 1-5 of 30
... Michaelowa and Rene ́ Kemp, among others. Jos Delbeke, Peter Zapfel and especially Peter Vis from the European Commission helped me to complete (and nuance) my empirical analysis on the EU supplementarity proposal. Finally, I want to ...
... (Michaelowa, 1999). Article 12.8 requires that a share of the proceeds from the CDM is used to cover administrative expenses and assist non-Annex B Parties to meet the costs of adaptation against the adverse effects of climate change ...
... , there seemed to be no obvious bias in favor of one of the flexible instruments (Michaelowa, 1999). Each competitive advantage for a specific Kyoto Mechanism seemed to be offset by a particular competitive Introduction 15.
... Michaelowa & Dutschke, 1998; Tietenberg, 1999). Although market-based climate policy holds the promise of lowering overall compliance costs, history has shown that several institutional barriers hinder its implementation (e.g. Bressers ...
... Michaelowa, 1999; Stewart et al., 1999). The institution that administrates this multilateral fund selects and invests in emission reduction projects and the investors receive credits proportional to their share of the portfolio. Before ...
Contents
1 | |
25 | |
Part II New Institutional Economics | 83 |
Part III Institutional Law and Economics | 139 |
Part IV NeoInstitutional Economics | 198 |
Part V Conclusion | 265 |
Appendix Questionnaire | 281 |
References | 291 |
Subject Index | 315 |