The Political Economy of International Emissions Trading Scheme Choice: A Theoretical Analysis
AbstractThe Kyoto Protocol allows emissions trading between the Annex B countries. We consider three schemes of emissions trading: government trading, permit trading, and credit trading. The schemes are compared in a public choice setting focusing on group size and rent-seeking by interest groups. We find that industry will have most influence on government policy, with environmental organizations taking second place. Our conclusion is that most interest groups prefer a combination of government trading and credit trading even though permit trading is more efficient. Furthermore, some governments prefer government trading because it retains the possibility of hot air trading.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 156 (2000)
Issue (Month): 4 (December)
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Find related papers by JEL classification:
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
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- Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
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- Boom, Jan-Tjeerd, 2001. "International emissions trading under the Kyoto Protocol: : credit trading," Energy Policy, Elsevier, vol. 29(8), pages 605-613, June.
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