IDEAS home Printed from https://ideas.repec.org/a/wej/wldecn/153.html
   My bibliography  Save this article

The Economics of the Kyoto Protocol

Author

Listed:
  • Michael Grubb

Abstract

This paper surveys economic aspects of the Kyoto Protocol, the Treaty adopted to control emissions of the greenhouse gases that contribute to climate change. The first part focuses upon the structural aspects of the agreement, with particular attention to the long-term conception of the Treaty and its use of market-oriented instruments unprecedented in an international treaty of this scope. The second part then examines the actual commitments adopted for the first period, and the impact of US withdrawal upon the economics of these commitments as mediated through the ‘flexible mechanisms’. It is noted that the emerging behaviour of states under Kyoto is very different from that assumed in economic modeling studies—countries are focusing first upon domestic action and will resort to the mechanisms mainly as a fallback option to secure compliance, not as a route to minimizing costs irrespective of other considerations. This may have important implications for understanding the practical economics of designing international market mechanisms, and for the next steps that might be considered under Kyoto.

Suggested Citation

  • Michael Grubb, 2003. "The Economics of the Kyoto Protocol," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 4(3), pages 143-189, July.
    • Handle: RePEc:wej:wldecn:153
    as

    Download full text from publisher

    File URL: https://www.worldeconomics.com/Journal/Papers/Article.details?ID=153
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sheila M. Olmstead & Robert N. Stavins, 2012. "Three Key Elements of a Post-2012 International Climate Policy Architecture," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 6(1), pages 65-85.
    2. repec:hal:wpaper:halshs-00990907 is not listed on IDEAS
    3. Zhengge Tu & Renjun Shen, 2014. "Can China’s Industrial SO 2 Emissions Trading Pilot Scheme Reduce Pollution Abatement Costs?," Sustainability, MDPI, vol. 6(11), pages 1-25, October.
    4. Hansjürgens, Bernd, 2008. "Internationale Klimapolitik nach Kyoto: Architekturen und Institutionen," UFZ Discussion Papers 10/2008, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
    5. Michel Damian, 2012. "Repenser l'économie du changement climatique," Post-Print halshs-00709929, HAL.
    6. Cui, Lian-Biao & Fan, Ying & Zhu, Lei & Bi, Qing-Hua, 2014. "How will the emissions trading scheme save cost for achieving China’s 2020 carbon intensity reduction target?," Applied Energy, Elsevier, vol. 136(C), pages 1043-1052.
    7. Hu, Yu & Monroy, Carlos Rodríguez, 2012. "Chinese energy and climate policies after Durban: Save the Kyoto Protocol," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(5), pages 3243-3250.
    8. Endre Tvinnereim, 2014. "The bears are right: Why cap-and-trade yields greater emission reductions than expected, and what that means for climate policy," Climatic Change, Springer, vol. 127(3), pages 447-461, December.
    9. Michel Damian, 2014. "Conférence climatique de Paris 2015 : que peut la diplomatie française ?," Post-Print halshs-00990907, HAL.
    10. Watts, David & Albornoz, Constanza & Watson, Andrea, 2015. "Clean Development Mechanism (CDM) after the first commitment period: Assessment of the world׳s portfolio and the role of Latin America," Renewable and Sustainable Energy Reviews, Elsevier, vol. 41(C), pages 1176-1189.
    11. Stavins, Robert, 2004. "Can an Effective Global Climate Treaty be Based on Sound Science, Rational Economics, and Pragmatic Politics?," Working Paper Series rwp04-020, Harvard University, John F. Kennedy School of Government.
    12. Winston W. Chang, 2017. "World Trade and the Environment: Issues and Policies," Pacific Economic Review, Wiley Blackwell, vol. 22(3), pages 435-479, August.
    13. Torben K. Mideksa, 2021. "Leadership and Climate Policy," CESifo Working Paper Series 9054, CESifo.
    14. Stefano F. Verde & Simone Borghesi, 2022. "The International Dimension of the EU Emissions Trading System: Bringing the Pieces Together," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 83(1), pages 23-46, September.
    15. Tang, Ling & Shi, Jiarui & Bao, Qin, 2016. "Designing an emissions trading scheme for China with a dynamic computable general equilibrium model," Energy Policy, Elsevier, vol. 97(C), pages 507-520.
    16. Muhammad Ishaq-ur Rahman, 2013. "Climate Change: a Theoretical Review," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 11(1), pages 1-13.
    17. Michel Damian, 2014. "La politique climatique change enfin de paradigme," Post-Print halshs-00969308, HAL.
    18. Ederington, Josh & Paraschiv, Mihai & Zanardi, Maurizio, 2022. "The short and long-run effects of international environmental agreements on trade," Journal of International Economics, Elsevier, vol. 139(C).
    19. Debashis Chakraborty & Sacchidananda Mukherjee, 2013. "Do Foreign Trade and Investment Lead to Higher CO2 Emissions? Evidence from Cross-Country Empirical Estimates," Review of Market Integration, India Development Foundation, vol. 5(3), pages 329-361, December.
    20. Jon Hovi & Bjart Holtsmark, 2006. "Cap-and-trade or carbon taxes? The feasibility of enforcement and the effects of non-compliance," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 6(2), pages 137-155, June.
    21. Li, Guangyao & Yang, Jin & Chen, Dingjiang & Hu, Shanying, 2017. "Impacts of the coming emission trading scheme on China’s coal-to-materials industry in 2020," Applied Energy, Elsevier, vol. 195(C), pages 837-849.
    22. Tsionas, Mike G., 2020. "On a model of environmental performance and technology gaps," European Journal of Operational Research, Elsevier, vol. 285(3), pages 1141-1152.
    23. Fritz Rahmeyer, 2007. "Europäischer Handel mit Treibhausgasemissionszertifikaten und seine Umsetzung in das deutsche Umweltrecht," Discussion Paper Series 296, Universitaet Augsburg, Institute for Economics.
    24. Zhou, Lu & Li, Jing & Chiang, Yat Hung, 2013. "Promoting energy efficient building in China through clean development mechanism," Energy Policy, Elsevier, vol. 57(C), pages 338-346.
    25. Peter Read, 2006. "Reconciling Emissions Trading with a Technology-Based Response to Potential Abrupt Climate Change," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 11(2), pages 493-511, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wej:wldecn:153. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ed Jones (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.