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What Role for Trade in a Post‐2012 Global Climate Policy Regime

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  • John Whalley

Abstract

This paper discusses the role that trade can potentially play in both negotiating and operating a post Kyoto/post 2012 global climate policy regime. As an addition to the bargaining set for a global climate negotiation, trade in principle widens the range of jointly beneficial potential outcomes and can in this sense be a potential facilitator of an agreed global climate regime. The reverse is also true, that in a linked climate-trade-finance global policy coordination structure that goes well beyond what was envisioned at Bretton Woods, climate now added to the global policy bargaining set also offers the prospect of potentially stronger trade disciplines (and even beyond WTO disciplines being negotiated). Trade policy can as well be an instrument for the implementation of a global climate regime, since trade provides a mechanism for achieving an internalization outcome for the global externality that climate change represents, and that provides a potentially more efficient outcome and also helps meet distributional objectives. In short, trade added to the emerging post 2012 climate regime can both expand the bargaining set for both (effectively linked) negotiations, and additionally provide an instrument for the implementation of an agreed outcome.
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Suggested Citation

  • John Whalley, 2011. "What Role for Trade in a Post‐2012 Global Climate Policy Regime," The World Economy, Wiley Blackwell, vol. 34(11), pages 1844-1862, November.
    • Handle: RePEc:bla:worlde:v:34:y:2011:i:11:p:1844-1862
    DOI: j.1467-9701.2011.01422.x
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    File URL: http://hdl.handle.net/10.1111/j.1467-9701.2011.01422.x
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    Cited by:

    1. Nicole A. MATHYS & Jaime DE MELO, 2011. "The Political Economy of Climate Change Policies: Political Economy Aspects of Climate Change Mitigation Efforts," Working Papers P24, FERDI.
    2. Scott BARRETT, 2011. "Rethinking Climate Change Governance and its Relationship to the World Trading System," Working Papers P20, FERDI.
    3. Nicole A. MATHYS & Jaime DE MELO, 2012. "Reconciling Trade and Climate Policies," Working Papers P37, FERDI.
    4. Patrick MESSERLIN, 2011. "Climate, trade and water: A “grand coalition”?," Working Papers P23, FERDI.
    5. Jaime DE MELO & Marcelo OLARREAGA, 2017. "Trade Related Institutions and Development," Working Papers P199, FERDI.
    6. Zakaria Sorgho & Tharakan Joe, 2020. "Do PTAs with environmental provisions reduce emissions? Assessing the effectiveness of climate-related provisions?," Working Papers hal-03004353, HAL.
    7. Jaime de Melo & Nicole A. Mathys, 2012. "Concilier les politiques commerciales et les politiques climatiques," Revue d’économie du développement, De Boeck Université, vol. 20(2), pages 57-81.
    8. Jaime DE MELO, 2012. "Trade in a ‘Green Growth’ Development Strategy Global Scale Issues and Challenges," Working Papers P48, FERDI.
    9. Zakaria Sorgho & Joe Tharakan, 2022. "Do PTAs with Environmental Provisions Reduce GHG Emissions? Distinguishing the Role of Climate-Related Provisions," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 83(3), pages 709-732, November.
    10. Sorgho, Zakaria & Tharakan, Joe, 2022. "Do PTAs with environmental provisions reduce GHG emissions? Distinguishing the effectiveness of climate-related provisions," LIDAM Discussion Papers CORE 2022012, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    11. Partha Sen, 2016. "Unilateral Emission Cuts and Carbon Leakages in a Dynamic North–South Trade Model," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(1), pages 131-152, May.
    12. Partha Sen, 2018. "Unilateral Policies, Competitiveness and the ‘Green Paradox’ in a Dynamic North–South Model," Arthaniti: Journal of Economic Theory and Practice, , vol. 17(2), pages 113-139, December.
    13. Winston W. Chang, 2017. "World Trade and the Environment: Issues and Policies," Pacific Economic Review, Wiley Blackwell, vol. 22(3), pages 435-479, August.
    14. Jaime de Melo, 2015. "Trade in a ‘Green Growth’ Development Strategy: Issues and Challenges," World Scientific Book Chapters, in: Developing Countries in the World Economy, chapter 22, pages 553-580, World Scientific Publishing Co. Pte. Ltd..
    15. Xia, Yan & Kong, Yishu & Ji, Qiang & Zhang, Dayong, 2019. "Impacts of China-US trade conflicts on the energy sector," China Economic Review, Elsevier, vol. 58(C).
    16. Scott BARRETT, 2011. "Rethinking Climate Change Governance and its Relationship to the World Trading System," Working Papers P20, FERDI.
    17. Patrick MESSERLIN, 2011. "Climate, trade and water: A “grand coalition”?," Working Papers P23, FERDI.
    18. Tobias Nielsen & Nicolai Baumert & Astrid Kander & Magnus Jiborn & Viktoras Kulionis, 2021. "The risk of carbon leakage in global climate agreements," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 21(2), pages 147-163, June.
    19. Partha Sen, 2013. "Unilateral Emission Cuts And Carbon Leakages In A North-South Trade Model," Working papers 232, Centre for Development Economics, Delhi School of Economics.
    20. Dieter Helm & Cameron Hepburn & Giovanni Ruta, 2012. "Trade, climate change, and the political game theory of border carbon adjustments," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 28(2), pages 368-394, SUMMER.

    More about this item

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F18 - International Economics - - Trade - - - Trade and Environment

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