The political economy of negotiating international carbon markets


Arvaniti, Maria ; Habla, Wolfgang


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URL: https://madoc.bib.uni-mannheim.de/55853
URN: urn:nbn:de:bsz:180-madoc-558535
Document Type: Working paper
Year of publication: 2020
The title of a journal, publication series: ZEW Discussion Papers
Volume: 20-020
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: D72 , H23 , H41 , Q54 , Q58,
Keywords (English): Cooperative climate policy , political economy , emissionstrading , linking of permit markets , strategic delegation , strategic voting
Abstract: International carbon markets are frequently propagated as an efficient instrument for reducing CO2 emissions. We argue that such markets, despite their desirable efficiency properties, might not be in the best interest of governments who are guided by strategic considerations in negotiations. We identify the circumstances under which governments benefit or are harmed by cooperation in the form of an international market. Our results challenge the conventional wisdom that an international market is most beneficial for participating countries when they have vastly diverging marginal abatement costs; rather, it may be more promising to negotiate agreements with non-tradable emissions caps.

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.




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Arvaniti, Maria ; Habla, Wolfgang (2020) The political economy of negotiating international carbon markets. Open Access ZEW Discussion Papers Mannheim 20-020 [Working paper]
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