Climate change and incentives for investment in clean technologies: Can we correct the biggest market failure in history by creating more markets?
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.
Volume (Year): 34 (2009)
Issue (Month): 27 (January-june)
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- 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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