Alternatives to Regulation? Market Mechanisms and the Environment

Research output: Chapter in Book/Entry/PoemChapter

7 Scopus citations


This article identifies a number of ongoing challenges. It focuses on the means of environmental regulation-the techniques regulators use to reduce pollution. It discusses traditional regulation (often called command-and-control regulation), the economic theory undergirding market-based environmental regulation, and increased use of market mechanisms. This treatment of market mechanisms considers them in an institutional context, showing how a multilevel governance system implements market mechanisms. Market-based instruments have become increasingly important as neoliberalism has advanced. While these instruments provide a cost effective way of realising environmental improvements, they depend on government design and enforcement for their efficacy. A concern that is shared across contributions is that such instruments are increasingly deployed in a complex context of multilevel governance and challenges multiply where market mechanisms traverse national boundaries.

Original languageEnglish (US)
Title of host publicationThe Oxford Handbook of Regulation
PublisherOxford University Press
ISBN (Electronic)9780191594007
ISBN (Print)9780199560219
StatePublished - Sep 2 2010


  • Environmental regulation
  • Market mechanisms
  • Multilevel governance
  • National boundaries
  • Neoliberalism

ASJC Scopus subject areas

  • General Business, Management and Accounting


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