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The political economy of a tradable GHG permit market in the European Union

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Author Info
Markussen, Peter (Department of Economics, Aarhus School of Business)
Svendsen, Gert Tinggaard () (Department of Economics, Aarhus School of Business)
Vesterdal, Morten (Department of Economics, Aarhus School of Business)

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Abstract

The EU has committed itself to meet an 8% greenhouse gas (GHG) reduction target level following the Kyoto agreement. Therefore, the EU Commission has just proposed a new directive establishing a framework for GHG emissions trading within the European Union. This proposal is the outcome of a policy process started by the EU Commission and its Green Paper from March 2000. The main industrial stakeholders all had the opportunity to comment on the Green Paper and from their positions we will analyse how far they are winners or losers compared to the final directive proposal. Here, we find that the dominant interest groups indeed influenced the final design of an EU GHG market. This industrial rent-seeking most prominently lead to a grandfathered permit allocation rule like the one found in the US tradable permit systems.

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Publisher Info
Paper provided by University of Aarhus, Aarhus School of Business, Department of Economics in its series Working Papers with number 02-3.

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Length: 22 pages
Date of creation: 01 Jan 2002
Date of revision:
Handle: RePEc:hhs:aareco:2002_003

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Postal: The Aarhus School of Business, Prismet, Silkeborgvej 2, DK 8000 Aarhus C, Denmark
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Related research
Keywords: Rent-seeking; European Union; political economy; Kyoto protocol; greenhouse gases; permit trading; grandfathering;

Find related papers by JEL classification:
H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
H40 - Public Economics - - Publicly Provided Goods - - - General
Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Greenwood, Justin & Webster, Ruth, 2000. "Are EU Business Associations Governable?," European Integration online Papers (EIoP), European Community Studies Association Austria (ECSA-A), vol. 4, 02. [Downloadable!]
  2. Svendsen, Gert Tinggaard, 1999. " U.S. Interest Groups Prefer Emission Trading: A New Perspective," Public Choice, Springer, vol. 101(1-2), pages 109-28, October. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Urs Steiner Brandt & Gert Tinggaard Svendsen, 2002. "Rent-seeking and grandfathering: The case of GHG trade in the EU," Working Papers 35/02, University of Southern Denmark, Department of Environmental and Business Economics. [Downloadable!]
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