Policy Instruments for Environmental and Natural Resource Management PDF
Preview Policy Instruments for Environmental and Natural Resource Management
Policy Instruments for Environmental and Natural Resource Management This page intentionally left blank Policy Instruments for Environmental and Natural Resource Management Second Edition Thomas Sterner and Jessica Coria New York (cid:129) London First published 2003, this edition published 2012 by RFF Press 711 Third Avenue, New York, NY 10017 Simultaneously published in the UK and ROW by RFF Press 2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN RFF Press is an imprint of the Taylor & Francis Group, an informa business © 2003, 2012 Thomas Sterner and Jessica Coria The right of Thomas Sterner and Jessica Coria to be identified as the authors has been asserted in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. The findings, interpretations, and conclusions offered in RFF Press publications are those of the authors. They do not necessarily represent the views of Resources for the Future, its directors, or its officers. Similarly, any geographic boundaries and titles depicted in RFF Press publications do not imply any judgment or opinion about the legal status of a terri- tory on the part of Resources for the Future. Trademark notice: Product or corporate names may be trademarks or registered trade- marks, and are used only for identification and explanation without intent to infringe. British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging in Publication Data A catalog record for this book has been applied for ISBN: 978-1-61726-097-1 (hbk) ISBN: 978-1-61726-098-8 (pbk) Typeset in Minion and Myriad by Composition and Design Services About Resources for the Future and RFF Press Resources for the Future (RFF) improves environmental and natural resource policymaking worldwide through independent social science research of the highest caliber. Founded in 1952, RFF pioneered the application of economics as a tool for developing more effective policy about the use and conservation of natural resources. Its scholars continue to employ social science methods to analyze critical issues concerning pollution control, energy policy, land and water use, hazardous waste, climate change, biodiversity, and the environ- mental challenges of developing countries. RFF Press supports the mission of RFF by publishing book-length works that present a broad range of approaches to the study of natural resources and the environment. Its authors and editors include RFF staff, researchers from the larger academic and policy communities, and journalists. Audiences for publications by RFF Press include all of the participants in the policymaking process—scholars, the media, advocacy groups, NGOs, professionals in busi- ness and government, and the public. RFF Press is an imprint of Earthscan, a global publisher of books and journals about the environment and sustain- able development. Resources for the Future Directors Vicky A. Bailey Kathryn S. Fuller Sally Katzen Trudy Ann Cameron David G. Hawkins Richard Schmalensee Preston Chiaro Deborah Hechinger Robert N. Stavins Mohamed T. El-Ashry Peter R. Kagan Joseph Stiglitz Linda J. Fisher Rubén Kraiem Mark R. Tercek Officers W. Bowman Cutter, Chair John M. Deutch, Vice Chair Lawrence H. Linden, Treasurer Frank E. Loy, Vice Chair Philip R. Sharp, President Edward F. Hand, Vice President–Finance and Administration Laurel L. Harvey, Vice President–Development and Corporate Secretary Mark A. Cohen, Vice President–Research Editorial Advisers for RFF Press Walter A. Rosenbaum, University of Florida Jeffrey K. Stine, Smithsonian Institution To Greta for a good past To Gustav, Erik, and Kalle for a sustainable future To all of you and to Lena for sharing the present Thomas To Magnus for your constant support Jessica This page intentionally left blank Contents Preface xi Acknowledgments xiii Abbreviations xvi 1. Background and Overview 1 Part I: The Need for Environmental and Natural Resource Policy 11 2. Causes of Environmental Degradation 15 3. The Evolution of Rights 42 Part II: Review of Policy Instruments 57 4. Direct Regulation of the Environment 61 5. Taxes 73 6. Tradable Permits 82 7. Subsidies, Deposit–Refund Schemes, and Refunded Emissions Payments 108 8. Property Rights, Legal Instruments, and Informational Policies 116 Part III: Selection of Policy Instruments 139 9. Efficiency of Policy Instruments 143 10. Role of Uncertainty and Information Asymmetry 163 11. Equilibrium Effects and Market Conditions 181 12. Distribution of Costs 198 13. Politics and Enforcement of Policy Instruments 214 ix
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