On the efficiency of environmental instruments in a spatial economy
AbstractThis paper develops an efficiency criterion to evaluate environmental policy instruments in a spatial economy. We call an environmental policy regime at the regional level efficient if it guarantees not only an efficient distribution of emission permits within a region, but also an efficient locational pattern of mobile firms across the regions of a federation. Using marketable pollution rights or emission taxes, efficiency in this broad sense can only be achieved if revenues of regional environmental agencies are not transferred to regional firms. Direct controls neither support an efficient allocation of emission rights within a region nor locational efficiency of firms. Copyright Kluwer Academic Publishers 1995
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Bibliographic InfoArticle provided by European Association of Environmental and Resource Economists in its journal Environmental & Resource Economics.
Volume (Year): 6 (1995)
Issue (Month): 1 (July)
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Web page: http://www.springerlink.com/link.asp?id=100263
Regional environmental policy; locational efficiency; distribution of emission tax revenues;
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