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Climate change and incentives for investment in clean technologies: Can we correct the biggest market failure in history by creating more markets?

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  • Verónica Cecilia Gutman

    () (Centro de Investigaciones en Epistemología de las Ciencias Económicas, Facultad de Ciencias Económicas, Universidad de Buenos Aires, Ciudad de Buenos Aires, Argentina.)

Abstract

This article analyzes a key issue regarding Climate Change: how to provide private enterprises with correct incentives in order to change their productive and innovative patterns and foster them to invest in research and development related with less greenhouse gasesintensive technologies. This could be achieved through an emission- permit system (such as the one included in the Kyoto Protocol) framed in a global political and institutional arrangement able to guarantee the continuity of the initiative and to provide a long-term price structure for carbon.

Suggested Citation

  • Verónica Cecilia Gutman, 2009. "Climate change and incentives for investment in clean technologies: Can we correct the biggest market failure in history by creating more markets?," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 34(27), pages 11-35, January-j.
  • Handle: RePEc:ula:econom:v:34:y:2009:i:27:p:11-35
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    References listed on IDEAS

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    1. William D. Nordhaus, 2006. "The "Stern Review" on the Economics of Climate Change," NBER Working Papers 12741, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    Climate change; incentives; inversion; clean technologies.;

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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