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Designing a Realistic Climate Change Policy that includes Developing Countries

  • Warwick J. McKibbin

    ()

    (Australian National University, Research School of Pacific and Asian Studies, Economics Division
    The Brookings Institution)

  • Peter J. Wilcoxen

    (University of Texas, Economics Department
    The Brookings Institution)

In earlier papers we have argued that the Kyoto Protocol is not sustainable as a global climate change policy and have proposed an alternative policy regime based on a coordinated but decentralised system of national permit trading systems with a fixed internationally negotiated price for permits. In this paper we extend this earlier proposal to include an explicit mechanism for participation by developing countries. The idea is to give incentives for carbon abatement in developing countries through price signals without imposing short or medium term costs in these economies. This new system is based on the creation of two types of assets in each participating country - emission endowments and emission permits. We argue that this new system is an effective and realistic way to move forward on a sustainable regime for climate change policy.

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Paper provided by Australian National University, Economics and Environment Network in its series Economics and Environment Network Working Papers with number 0003.

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Length: 14 pages
Date of creation: Jun 2000
Date of revision:
Handle: RePEc:anu:eenwps:0003
Contact details of provider: Web page: http://een.anu.edu.au/

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  1. Warwick J. McKibbin & Peter J. Wilcoxen, 1997. "A Better Way to Slow Global Climate Change," Economics and Environment Network Working Papers 9702, Australian National University, Economics and Environment Network.
  2. W. J. McKibbin & P. J. Wilcoxen, . "The Theoretical and Empirical Structure of the G-Cubed Model," Discussion Papers 118, Brookings Institution International Economics.
  3. Warwick J. McKibbin & Peter J. Wilcoxen, 1999. "Permit Trading Under the Kyoto Protocol and Beyond," Economics and Environment Network Working Papers 9902, Australian National University, Economics and Environment Network.
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