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Meeting the Kyoto Targets: the importance of developing country participation

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  • Zhang, Zhong Xiang

    (Groningen University)

Abstract

This paper investigates the implications of progressively broadening the scope of the market of tradable permits from no emissions trading to full global trading. We start with the no emissions trading case where each Annex I country must individually meet its Kyoto targets. Next, we consider a case where trading of emissions permits is limited to Annex I countries only. We then expand the scope of the market to include all the non-Annex I countries but China. Finally, to investigate the role China plays in bringing down Annex I countries' compliance costs, we further broaden the market to include China into full global trading. Our results clearly demonstrate that the gain of the OECD as a whole increases as the market expands. Our results also show that developing countries themselves benefit from such an expansion too because it not only provides them for additional financial resources, but also helps to cut their baseline carbon emissions by a big margin. By contrast, the former Soviet Union tends to become worse off as the market expands. The potential conflict of interest between the former Soviet Union and developing countries underlines the importance of establishing clear rules of procedure about admitting new entrants before emissions trading begins.

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File URL: http://irs.ub.rug.nl/ppn/241229332
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Bibliographic Info

Paper provided by University of Groningen, CCSO Centre for Economic Research in its series CCSO Working Papers with number 200013.

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Date of creation: 2000
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Handle: RePEc:dgr:rugccs:200013

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References

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  1. Christopher N. MacCracken & James A. Edmonds & Son H. Kim & Ronald D. Sands, 1999. "The Economics of the Kyoto Protocol," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 25-71.
  2. Zhang, Zhong Xiang, 1999. "Estimating the size of the potential market for the Kyoto flexibility mechanisms," CCSO Working Papers 199920, University of Groningen, CCSO Centre for Economic Research.
  3. Zhang, ZhongXiang, 1998. "Greenhouse gas emissions trading and the world trading system," MPRA Paper 12971, University Library of Munich, Germany.
  4. Zhang, ZhongXiang, 1999. "Estimating the size of the potential market for all three flexibility mechanisms under the Kyoto Protocol," MPRA Paper 13088, University Library of Munich, Germany.
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Citations

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Cited by:
  1. Zhang, ZhongXiang, 2003. "Reconstructing climate policy: how best to engage China and other developing countries?," MPRA Paper 12830, University Library of Munich, Germany.
  2. Zhang, ZhongXiang, 2004. "Towards an effective implementation of clean development mechanism projects in China," MPRA Paper 13147, University Library of Munich, Germany, revised Jul 2005.
  3. Zhang, ZhongXiang, 2010. "Is it fair to treat China as a Christmas tree to hang everybody's complaints? Putting its own energy saving into perspective," Energy Economics, Elsevier, vol. 32(Supplemen), pages S47-S56, September.
  4. Giuseppe Di Vita, 2003. "Is the Discount Rate Relevant in Explaining the Environmental Kuznets Curve?," Working Papers 2003.83, Fondazione Eni Enrico Mattei.
  5. ZhongXiang Zhang, 2004. "The World Bank’s Prototype Carbon Fund and China," Working Papers 2004.138, Fondazione Eni Enrico Mattei.
  6. Peter Bohm, 2002. "Improving Cost-effectiveness and Facilitating Participation of Developing Countries in International Emissions Trading," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 2(3), pages 261-273, September.
  7. ZhongXiang Zhang, 2010. "China in the Transition to a Low-Carbon Economy," Working Papers 2010.76, Fondazione Eni Enrico Mattei.
  8. Zhang, ZhongXiang, 2006. "China, the United States and technology cooperation on climate control," MPRA Paper 12801, University Library of Munich, Germany.
  9. Seidman, Laurence & Lewis, Kenneth, 2009. "Compensations and contributions under an international carbon treaty," Journal of Policy Modeling, Elsevier, vol. 31(3), pages 341-350, May.
  10. Zhang, ZhongXiang, 2008. "Asian energy and environmental policy: Promoting growth while preserving the environment," Energy Policy, Elsevier, vol. 36(10), pages 3905-3924, October.
  11. You, Jing, 2013. "China's challenge for decarbonized growth: Forecasts from energy demand models," Journal of Policy Modeling, Elsevier, vol. 35(4), pages 652-668.
  12. Zhang, ZhongXiang, 2003. "Why Has China not Embraced a Global Cap-and-Trade Regime?," MPRA Paper 12783, University Library of Munich, Germany, revised Jul 2007.
  13. Brechet, Thierry & Lussis, Benoit, 2006. "The contribution of the clean development mechanism to national climate policies," Journal of Policy Modeling, Elsevier, vol. 28(9), pages 981-994, December.
  14. Aronsson, Thomas & Backlund, Kenneth & Sahlén, Linda, 2010. "Technology transfers and the clean development mechanism in a North-South general equilibrium model," Resource and Energy Economics, Elsevier, vol. 32(3), pages 292-309, August.

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