•  
  •  
 

Document Type

Article

Abstract

The Kyoto Protocol of 1997 attempts to address the problem of global warming by establishing national greenhouse gas emissions targets and timetables. To reduce emissions, the protocol outlines a tradeable pollution permit system. The system would allow countries with high abatement costs to purchase permits from countries with low abatement costs, equalizing global marginal abatement costs. The protocol, however, is destined to fail because of the free-rider problem and the problem of trade leakage. Given the correct guidelines, a tradeable pollution permit system would provide a market-based, cost-effective way to reduce greenhouse gas emissions.

Publication Date

Spring 2003

Journal Title

Major Themes in Economics

Volume

5

Issue

1

First Page

67

Last Page

74

Copyright

©2003 by Major Themes in Economics

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Language

EN

File Format

application/pdf

Included in

Economics Commons

Share

COinS
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.