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Globalization and Environment

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  • Theodore Panayotou

Abstract

Economic globalization impacts the environment and sustainable development in a wide variety of ways and through a multitude of channels. The purpose of this paper is (a) to identify the key links between globalization and environment; (b) to identify the major issues addressed in multilateral economic agreements in trade and finance that affect environmental sustainability; and (c) to review priority policy issues affecting the environment in multilateral economic agreements and environment, thus identifying incentives implicit in trade and investment policy measures that affect environmental sustainability. The author categorizes these issues under the primary areas of globalization: trade liberalization, investment and finance, and technology diffusion, the latter including intellectual property rights. In the case of the trade-environment interface, the paper examines the impact of both elements, and the causal relationship between them. It also pays special attention to multilateral environmental agreements and their potential effects on trade. An integrative section on the effects of globalization and environmental policy and performance leads to domestic and international priority policy issues and recommendations. The author concludes that globalization brings with it potentially large benefits as well as risks. The challenge is to manage the process of globalization in such a way that it promotes environmental sustainability and equitable human development. In short, the more integrated environmental and trade policies are, the more sustainable economic growth will be and the more globalization can be harnessed for the benefit of the environment.

Suggested Citation

  • Theodore Panayotou, 2000. "Globalization and Environment," CID Working Papers 53, Center for International Development at Harvard University.
  • Handle: RePEc:wop:cidhav:53
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    File URL: http://www.cid.harvard.edu/cidwp/pdf/053.pdf
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    References listed on IDEAS

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    1. Dean, Judith M., 1992. "Trade and the environment : a survey of the literature," Policy Research Working Paper Series 966, The World Bank.
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    Cited by:

    1. Leonie A. Marks & Nicholas Kalaitzandonakes & Srinivasa Konduru, 2006. "Images of Globalisation in the Mass Media," The World Economy, Wiley Blackwell, vol. 29(5), pages 615-636, May.
    2. Fredriksson Per G & Mani Muthukumara, 2004. "Trade Integration and Political Turbulence: Environmental Policy Consequences," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 3(2), pages 1-28, February.
    3. Sonja Peterson, 2008. "Greenhouse gas mitigation in developing countries through technology transfer?: a survey of empirical evidence," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 13(3), pages 283-305, March.
    4. Victoria I. Umanskaya & Edward B. Barbier, 2008. "Can Rich Countries Become Pollution Havens?," Review of International Economics, Wiley Blackwell, vol. 16(4), pages 627-640, September.
    5. Rashid Gill, Abid & Viswanathan, Kuperan K. & Hassan, Sallahuddin, 2018. "The Environmental Kuznets Curve (EKC) and the environmental problem of the day," Renewable and Sustainable Energy Reviews, Elsevier, vol. 81(P2), pages 1636-1642.

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    More about this item

    Keywords

    Environment; Globalization; International Trade;
    All these keywords.

    JEL classification:

    • F18 - International Economics - - Trade - - - Trade and Environment
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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