This paper examines the environmental effects of mineral taxes in a framework that recognizes the importance of rates and cumulative externalities and proposes an appropriate corrective tax. It concludes that mineral resources taxation should combine neutral taxes with a dynamic Pigovian type...

Commonly cited environmental instruments in the legal, regulatory, and fiscal domains are intended primarily to address market failures to ensure that environmental degradation and resource use is contained to appropriate levels. However, in many instances, environmental degradation is rooted...

Markets hold promise for resolving disputes over water use. But the intricate economics-and persistent politics-of water suggest that governments will remain part of the picture.

The Productivity Commission released its final research report into ‘Rural Water Use and the Environment: The Role of Market Mechanisms’ in August 2006. The report indicates that there is scope for markets to play a greater role in improving the efficient use of water, including for...

This working paper contains a review and analysis of environmental policy tools in Latin America. It contains a review of the instruments themselves and their properties are discussed in both static and dynamic contexts. The report brings together the institutional and more narrowly economic...