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Radical Climate Policies

Author

Listed:
  • Van Der Ploeg,Frederick
  • Venables,Anthony J.

Abstract

In the presence of strategic complementarities stemming from peer effects in demand orfrom technological spill-overs, propagation and amplification mechanisms increase the effectiveness ofclimate policies. This suggests that climate goals can be met with smaller policy interventions. However, if there aremultiple equilibria, radical and more ambitious climate policies are needed to shift the economy from ahigh-emissions to a low-emissions path. Once the radical shift has taken place the transformative policies can bewithdrawn. More generally, such policies can set in motion social, technological, and political tipping points. Therationale for such policies is strengthened due to key households, corporations and institutions being at thecentre of networks, and thus radical climate policies should identify those agents and leverage them. The proposals offera complementary perspective to scholars that have emphasised insights from the literature on early warning signals toadvocate sensitive intervention points to get more effective and more transformative climate policies.

Suggested Citation

  • Van Der Ploeg,Frederick & Venables,Anthony J., 2022. "Radical Climate Policies," Policy Research Working Paper Series 10212, The World Bank.
    • Handle: RePEc:wbk:wbrwps:10212
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    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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