Collectively or individually, countries are likely to implement policies designed to limit greenhouse gas emissions. Experience from tradable quota schemes suggests that emissions trading could significantly reduce the costs of emission limits. The Kyoto Protocol provides the framework for a...

Will environmental issues challenge the General Agreement on Tariffs and Trade (GATT)? Calls for a new round of multilateral trade negotiations on the environment have multiplied. Environmentalists have kept up pressure to modify GATT. Industries with higher environmental costs may seek...

The carrying capacity of our natural environment is an important unpriced input to production. A consensus is growing that users should pay for the environmental damage that they cause. Although most people can accept this policy in principle, many are concerned with magnitude and incidence of...

Efficient reduction of carbon dioxide emissions requires coordination of international efforts. Approaches proposed include carbon taxes, emission quotas, and jointly implemented energy projects. To reduce emissions efficiently, requires equalizing the marginal costs of reduction between...

s. Whether it should be part of a global climate mitigation strategy, however, remains controversial. One of the key issues is that, contrary to emission abatement, carbon sequestration might not be permanent. But some argue that even temporary sequestration is beneficial as it delays climate...

Bringing the United States and major developing countries to control their greenhouse gas emissions will be the key challenge for the international climate regime beyond the Kyoto Protocol. But in the current quantity-based coordination, large uncertainties surrounding future emissions and...

The trading of rights to emit carbon dioxide has not officially been sanctioned by the United Nations Framework Convention on Climate Change, but it is of interest to investigate the consequences, both for industrial (Annex B) and developing countries, of allowing such trades. The authors...

When domestic energy prices in developing countries fall below opportunity costs, price increases are recommended to conserve fiscal revenue and to ensure efficient use of resources. Using six case studies, the authors investigate the effect of energy price increases on the poor, inflation,...

In light of the recent argument that rapid economic growth in Russia over the next decade, might result in emissions higher than the Kyoto target, thereby putting much-needed growth at risk, the authors revisit the discussion on the costs and benefits of ratification of the Kyoto Protocol by...

For almost 20 years, the Ministry of Environment of the Republic of Korea has published on a monthly basis a list of enterprises that fail to comply with national environmental laws and regulations. In this paper, the authors examine the reaction of investors to the publication of these lists...