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Trade Liberalization in a Dynamic Setting: Implications of a Now WTO Round

Author

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  • McKibbin, W.J.

Abstract

The Kyoto Protocol is seen by many as a step forward in reaching the UNFCCC goals of slowing emissions of greenhouse gases. In this paper we argue that the issue of regime sustainability in developing the Kyoto approach to climate change has received too little attention. We question the sustainability of the Kyoto Protocol and suggest an alternative approach that is more politically and economically sustainable. We also present results from the G-Cubed multi-country model that demonstrate a permit trading system within the Kyoto Protocol offers large gains and improves the sustainability of the regime. We also propose a permit trading system as part of the solution to climate change policy however in a very different form to those currently being discussed.

Suggested Citation

  • McKibbin, W.J., 1999. "Trade Liberalization in a Dynamic Setting: Implications of a Now WTO Round," Papers 147, Brookings Institution - Working Papers.
  • Handle: RePEc:fth:brooki:147
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    Citations

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    Cited by:

    1. Mohamed Hedi Bchir & Yvan Decreux & Jean-Louis Guérin & Sébastien Jean, 2002. "MIRAGE, a Computable General Equilibrium Model for Trade Policy Analysis," Working Papers 2002-17, CEPII research center.

    More about this item

    Keywords

    INTERNATIONAL TRADE ; TRADE LIBERALIZATION;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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