By Ian Goldin (editor), L. Alan Winters (editor)
ISBN-10: 0511751907
ISBN-13: 9780511751905
ISBN-10: 0521465559
ISBN-13: 9780521465557
ISBN-10: 0521469570
ISBN-13: 9780521469579
Fresh theories of monetary progress, economic coverage and the open financial system have very important implications for "sustainable development." Papers during this quantity, derived from a Centre for monetary coverage study joint convention with the OECD improvement Centre, research the results of explicitly incorporating source depletion, toxins abatement and sustainability into orthodox monetary concept, whereas additionally injecting a macroeconomic debate at the setting.
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Extra resources for The Economics of Sustainable Development
Example text
Alan Winters on energy use. Third, and more optimistically, a global carbon tax with revenue transfers would achieve a sizable abatement without imposing an excessive burden on developing countries. According to GREEN, the former Soviet Union and the Central and East European Countries will gain from such a policy (because the tax will offset their existing fuel distortions), but for nearly all other countries there will be a loss, albeit of manageable proportions. Chapter 10 also considers agreement over carbon dioxide emissions and technology.
Sections 2 and 3 focus on air and water quality, respectively. In each case I review the anthropogenic sources of the various pollutants, the environmental risks that they pose, and the method and scope of abatement. I then discuss what is currently known about the relationship between that pollutant and growth. Section 4 discusses some policy implications of this body of research. 1 Data sources In order to study the relationship between the scale and composition of economic activity and the extent of damage to the environment it is necessary to have observations on environmental quality in different geographic locations or different points in time (or both) that have been measured or estimated by comparable methods.
The usual solution proposed for these problems is to harmonise standards across the two countries somewhere between the two initial standards chosen. This, however, is unlikely to work because it always reduces the small country's welfare below its non-cooperative level! Suppose they harmonise at the large country's non-cooperative environmental standard: clearly this harms the small country because in the absence of constraints it chose a different best response to the large country using this value.
The Economics of Sustainable Development by Ian Goldin (editor), L. Alan Winters (editor)
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