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The Kyoto Protocol: A Review and Perspectives

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  • Böhringer, Christoph

Abstract

International concern about climate change has led to the Kyoto Protocol, negotiated in 1997, which contains legally binding emission targets for industrialized countries to be achieved during the commitment period 2008-2012. While proponents of the Protocol celebrate it as a breakthrough in international climate policy, opponents criticize that its approach, namely setting targets and timetables for emission reductions, is seriously flawed. This paper provides a critical assessment of the Protocol?s potential performance and discusses amendments to foster its effectiveness and efficiency. It concludes that, even without any effective emission reductions in the initial commitment period, the ratification of Kyoto is important for the further policy process of climate protection. The Kyoto Protocol has established a flexible broad-based international mechanism that provides a valuable starting point for shaping efficient climate policies in the future.

Suggested Citation

  • Böhringer, Christoph, 2003. "The Kyoto Protocol: A Review and Perspectives," ZEW Discussion Papers 03-61, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  • Handle: RePEc:zbw:zewdip:1491
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    1. Barrett, Scott, 1994. "Self-Enforcing International Environmental Agreements," Oxford Economic Papers, Oxford University Press, vol. 46(0), pages 878-894, Supplemen.
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    Citations

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    Cited by:

    1. Sadegheih, A., 2010. "A novel formulation of carbon emissions costs for optimal design configuration of system transmission planning," Renewable Energy, Elsevier, vol. 35(5), pages 1091-1097.
    2. Frank Jotzo & John C. V. Pezzey, 2005. "Optimal intensity targets for emissions trading under uncertainty (now replaced by EEN0605)," Economics and Environment Network Working Papers 0504, Australian National University, Economics and Environment Network.
    3. Winkler, Ralph, 2006. "Does 'better' discounting lead to 'worse' outcomes in long-run decisions? The dilemma of hyperbolic discounting," Ecological Economics, Elsevier, vol. 57(4), pages 573-582, June.
    4. Adam G. Bumpus & Diana M. Liverman, 2008. "Accumulation by Decarbonization and the Governance of Carbon Offsets," Economic Geography, Clark University, vol. 84(2), pages 127-155, April.
    5. Sadegheih, A., 2011. "Optimal design methodologies under the carbon emission trading program using MIP, GA, SA, and TS," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(1), pages 504-513, January.

    More about this item

    Keywords

    climate policy; cost-benefit analysis; Kyoto Protocol;

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

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