Emissions trading, capital flows and the Kyoto protocol

Warwick J. McKibbin; Martin T. Ross; Robert Shackleton; Peter J. Wilcoxen

doi:10.5547/issn0195-6574-ej-vol20-nosi-12

Emissions trading, capital flows and the Kyoto protocol

Warwick J. McKibbin^*, Martin T. Ross, Robert Shackleton, Peter J. Wilcoxen

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

64 Citations (Scopus)

Abstract

We use an econometrically estimated multi-region, multi-sector general equilibrium model of the world economy to examine the effects of the tradable emissions permit system proposed in the 1997 Kyoto Protocol, under various assumptions about the extent of international permit trading. We focus, in particular, on the effects of the system on international trade and capital flows. Our results suggest that consideration of these flows significantly affects estimates of the domestic effects of the emissions mitigation policy, compared with analyses that ignore international capital flows.

Original language	English
Pages (from-to)	287-333
Number of pages	47
Journal	Energy Journal
Volume	20
Issue number	SPEC. ISS.
DOIs	https://doi.org/10.5547/issn0195-6574-ej-vol20-nosi-12
Publication status	Published - 1999

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title = "Emissions trading, capital flows and the Kyoto protocol",

abstract = "We use an econometrically estimated multi-region, multi-sector general equilibrium model of the world economy to examine the effects of the tradable emissions permit system proposed in the 1997 Kyoto Protocol, under various assumptions about the extent of international permit trading. We focus, in particular, on the effects of the system on international trade and capital flows. Our results suggest that consideration of these flows significantly affects estimates of the domestic effects of the emissions mitigation policy, compared with analyses that ignore international capital flows.",

author = "McKibbin, {Warwick J.} and Ross, {Martin T.} and Robert Shackleton and Wilcoxen, {Peter J.}",

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AU - McKibbin, Warwick J.

AU - Ross, Martin T.

AU - Shackleton, Robert

AU - Wilcoxen, Peter J.

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N2 - We use an econometrically estimated multi-region, multi-sector general equilibrium model of the world economy to examine the effects of the tradable emissions permit system proposed in the 1997 Kyoto Protocol, under various assumptions about the extent of international permit trading. We focus, in particular, on the effects of the system on international trade and capital flows. Our results suggest that consideration of these flows significantly affects estimates of the domestic effects of the emissions mitigation policy, compared with analyses that ignore international capital flows.

AB - We use an econometrically estimated multi-region, multi-sector general equilibrium model of the world economy to examine the effects of the tradable emissions permit system proposed in the 1997 Kyoto Protocol, under various assumptions about the extent of international permit trading. We focus, in particular, on the effects of the system on international trade and capital flows. Our results suggest that consideration of these flows significantly affects estimates of the domestic effects of the emissions mitigation policy, compared with analyses that ignore international capital flows.

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DO - 10.5547/issn0195-6574-ej-vol20-nosi-12

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VL - 20

SP - 287

EP - 333

JO - Energy Journal

JF - Energy Journal

IS - SPEC. ISS.

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Emissions trading, capital flows and the Kyoto protocol

Abstract

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