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Emission policies and the Nigerian economy: simulations from a dynamic applied general equilibrium model

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  • Nwaobi, Godwin Chukwudum

Abstract

Recently, there has been growing concern that human activities may be affecting the global climate through growing atmospheric concentrations of greenhouse gases(GHG). Such warming could have major impacts on economic activity and society. For the Nigerian case, the study uses multisector dynamic applied general equilibrium to quantify the economy- wide, distributional and environmental costs of policies to curb GHG emissions. The simulation results indicates effectiveness of carbon tax, tradeable permit and backstop technology policies in curbing GHG emissions but with distorted economy wide and income distributional effects. However, the model was found to be sensitive to three key exogenous variable and parameters tested: Lower GDP growth rate, changed interfuel substitution elasticity and autonomous energy efficiency improvement factor. Unlike the first test, the last two tests only had improved environmental effect but stable economy wide effect. This then suggests that domestic energy conservation measures could be a second best alternative.
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Suggested Citation

  • Nwaobi, Godwin Chukwudum, 2004. "Emission policies and the Nigerian economy: simulations from a dynamic applied general equilibrium model," Energy Economics, Elsevier, vol. 26(5), pages 921-936, September.
  • Handle: RePEc:eee:eneeco:v:26:y:2004:i:5:p:921-936
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    References listed on IDEAS

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    1. Maler, Karl-Goran, 1985. "Welfare economics and the environment," Handbook of Natural Resource and Energy Economics,in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 1, chapter 1, pages 3-60 Elsevier.
    2. Shoven,John B. & Whalley,John, 1992. "Applying General Equilibrium," Cambridge Books, Cambridge University Press, number 9780521266550, December.
    3. Baumol,William J. & Oates,Wallace E., 1988. "The Theory of Environmental Policy," Cambridge Books, Cambridge University Press, number 9780521322249, November.
    4. Cropper, Maureen L & Oates, Wallace E, 1992. "Environmental Economics: A Survey," Journal of Economic Literature, American Economic Association, pages 675-740.
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    Cited by:

    1. Schmidt, Torsten & Zimmermann, Tobias, 2005. "Effects of Oil Price Shocks on German Business Cycles," RWI Discussion Papers 31, RWI - Leibniz-Institut für Wirtschaftsforschung.

    More about this item

    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models

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