Publisher description

Market-based Approaches to Environmental Regulation reviews the economics literature of market-based environmental regulations and design issues for environmental taxes and cap-and-trade systems. It begins by reviewing the economics literature on the theory of market-based environmental regulations. It then goes on to cover design issues for environmental taxes and cap-and-trade systems. Market-based Approaches to Environmental Regulation also discusses the U.S. experience with a number of regulatory approaches that are commonly characterized as market-based and describes the mix of market and non-market instruments that characterize these policies. Market-based Approaches to Environmental Regulation will be of interest to all researchers and practitioners in the field of environmental regulation.

A reference book consisting mainly of revised versions of selected papers presented at a workshop on 'Bureaucracy, Markets and the Environment', held in October 1992 at Monash University. Critically examines the range of tools for environmental protection available to governments. Provides a set of principles and recommendations to guide environmental policy makers and various contributors assess the various instruments for environmental protection against a range of criteria. Considers developments in environmental management in Europe, US and Australia. Includes an index. The author has also written 'Environmentalism and Political Theory'.

Emissions taxes, tradeable emission permits and voluntary compliance policies are becoming the instruments of choice in controlling environmental problems at the national and international level. This text uses research in order to appraise their efficiency in varying market conditions.

"A clear grasp of economics is essential to understanding why environmental problems arise and how we can address them. ... Now thoroughly revised with updated information on current environmental policy and real-world examples of market-based instruments .... The authors provide a concise yet thorough introduction to the economic theory of environmental policy and natural resource management. They begin with an overview of environmental economics before exploring topics including cost-benefit analysis, market failures and successes, and economic growth and sustainability. Readers of the first edition will notice new analysis of cost estimation as well as specific market instruments, including municipal water pricing and waste disposal. Particular attention is paid to behavioral economics and cap-and-trade programs for carbon."--Publisher's web site.

Winner, 2007 Louis Brownlow Award presented by the National Academy of Public Administration (NAPA) and 2006 Best Book in Environmental Management and Policy, American Society for Public Administration. Environmental regulation in the United States has succeeded, to a certain extent, in solving the problems it was designed to address; air, water, and land, are indisputably cleaner and in better condition than they would be without the environmental controls put in place since 1970. But Daniel Fiorino argues in The New Environmental Regulationthat—given recent environmental, economic, and social changes—it is time for a new, more effective model of environmental problem solving. Fiorino provides a comprehensive but concise overview of U.S. environmental regulation—its history, its rationale, and its application—and offers recommendations for a more collaborative, flexible, and performance-based alternative. Traditional environmental regulation was based on the increasingly outdated assumption that environmental protection and business are irreversibly at odds. The new environmental regulation Fiorino describes is based on performance rather than on a narrow definition of compliance and uses such policy instruments as market incentives and performance measurement. It takes into consideration differences in the willingness and capabilities of different firms to meet their environmental obligations, and it encourages innovation by allowing regulated industries, especially the better performers, more flexibility in how they achieve environmental goals. Fiorino points to specific programs—including the 33/50 Program, innovative permitting, and the use of covenants as environmental policy instruments in the Netherlands—that have successfully pioneered these new strategies. By bringing together such a wide range of research and real world examples, Fiorino has created an invaluable resource for practitioners and scholars and an engaging text for environmental policy courses.

Pollution Under Environmental Regulation in Energy Markets provides a study of environmental regulation when energy markets are imperfectly competitive. This theoretical treatment focuses on three relevant cases of energy markets. First, the residential space heating sector where hybrid regulation such as taxation and emissions trading together are possible. Second, the electricity market where transactions are organized in the form of multi-period auctions. Third, namely natural gas (input) and electricity (output) markets where there is combined imperfect competition in vertical related energy markets. The development of free or low carbon technologies supported by energy policies, aiming at increasing security of supply, is also explored whilst considering competition policies that reduce market power in energy markets thus improving market efficiency. Pollution Under Environmental Regulation in Energy Markets discusses the key issues of whether imperfect competition can lessen the ability of environmental policy to reduce pollution and/or to minimize the cost of meeting environmental targets. Policymakers, analysts and researchers gain a thorough understanding of the performance of environmental policy from Pollution Under Environmental Regulation in Energy Markets leading to better design of simulation models of performance and costs of environmental regulation.

This book takes a comparative perspective of practice in the European Union, North America, Japan and Australasia, arguing that existing legal reforms to promote sustainable development are unlikely to be successful unless environmental policy can be diffused and embedded in the financial services sector. This sector plays a crucial role in creating the financial conditions that allow much economic development to proceed. Financial markets are already highly regulated in pursuance of various public policy objectives, and there is scope to adapt existing regulation to incorporate environmental aspects into the financial services sector. In terms of specific reforms, the book focuses on the role of corporate environmental reporting, economic instruments and liability rules to provide a proper context for engaging financial organisations with the environment, as well as reforms to the system of prudential regulation that currently governs this sector. Beyond the focus on the financial services sector, the book raises complex questions regarding the relationship between the state and market institutions in environmental policy, and will appeal to scholars from a wide range of disciplines interested in problems of environmental governance.

This volume assembles a group of eminent scholars to look at the problem of growth and environment from the perspective of environmental regulation. The questions addressed are: How does economic growth interact with regulation, and what are the best approaches to regulation in use today? The context for the volume is the current situation in China, where twenty years of rapid growth have created a situation in which there are both demands for environmental regulation and needs for choosing a future development path. The advent of "A Macro-Environmental Strategy" for China presents an opportunity to ask how and why China should introduce regulation into its management of its development. The volume includes contributions from leading Chinese experts and established environmental economists from other countries including Timo Goeschl, Ben Groom and Andreas Kontoleon. The volume looks at both the demand side of environmental regulation and the supply side. The demand side of regulatory intervention examines how regulation operates to supplement existing resource-allocation mechanisms, via effective demand aggregation and implementation mechanisms. The supply side of regulation examines how regulation operates to guide industrial growth down particular pathways, in the pursuit of managed development. Both sides of environmental regulation involve the important issue of implementation and enforcement. This volume will be of most value to academics and scholars of environmental economics, growth economics, the Chinese economy and policy-makers of environmental regulations.

This work asks why market instruments have not been used to their full potential in environmental policy. It uses a public choice perspective to analyse the political economy of environmental policy, emphasising the role of interest groups which have blocked the introduction of market instruments.