presented, using a calibrated global trade model with pollution externalities. Our findings are that both trade-related process …

for pollution control rather than mandated command- and-control approaches. If voluntary approaches are successful in … reducing pollution, they also have the potential to be more cost?effective than existing command? and?control regulations … because they allow firms flexibility to choose the most appropriate pollution control strategy, lower information costs and …

, such as Latin America. Colombia represents a good approximation to this scenario, mainly due to the convergence between … Latin America). In Colombia, the economic valuation and the classification of EL have been proposed as tools to manage Els …