The efficiency effects of carbon pricing depend on how it impacts distortions in fossil fuel markets, most notably from local air pollution externalities. By offsetting these distortions, carbon pricing may generate significant net economic benefits, so it is in countries own interests to...

Climate change is one of the most urgent and severe problems on the international agenda and one of the basic factors that determine sustainability conditions. This paper attempts to reveal the connection between productive base sustainability for two large groups of countries, developed and...