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 54
... Existing Literature Conclusion Path Dependence and Lock-In of Market-Based Climate Policy Introduction Definitions ... Environmental Effectiveness of Market-Based Climate Policy Introduction Definitions of Environmental Effectiveness and ...
E. Woerdman. the original property rights blueprint for environmental pollution as sketched above. Assigned amounts ... existing literature, as summarized in Table 1.1. The qualitative results obtained below are based on the text of the ...
... existing environmental policy. Again following North's (1990) work, path dependence might provide an explanation. In the (economic) literature on technological change, initiated by David (1985) and Arthur (1989), this concept is used to ...
... existing literature that studies the difference between the two hierarchies ... environmental standards and possibly enforced by covenant. Credit trading is sometimes ... Climate Policy 2.2. Tradeable Emission Rights and the Private Sector.
... environmental scarcity under credit trading is not reflected in a price for each unit of emissions. If the economy grows, the supply of ... existing polluters, or from a government reserve, within an environmental ... Climate Policy 29.
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 |