Environmental economics passed its age of infancy. It grew rapidly over the last decades and established itself as a discipline based on the powerful economic paradigm and reaching beyond it to capture important economy-environment interactions. The view offered here on the future of...

This paper investigates the repercussions of noncooperative national environmental policies on international capital investments in the absence of transfrontier pollution with an emphasis on the consequences of removing the barriers to international capital transactions. Such repercussions are...