Curbing (without banning) potentially environmentally-damaging activities that have global, rather than local, effects raises challenges analogous to those faced by a community lacking legislative powers that has to restrict access to a common pasture in order to make its use sustainable. A...

This paper examines economic aspects of the Kyoto protocol on climate change, focusing on the protocol’s longer-term impact and possible global evolution. Specifically, the analysis considers the economics of likely technological responses to the protocol and the implication of international...

Purpose – To construct an index (index of environmental sensitivity performance) to be used in a cross-country trade model in order to analyze the effect of various degrees of environmental stringency on the trade patterns, and especially on the export performance of the countries....