Emissions trading, capital flows and the Kyoto protocol

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

Research output: Contribution to journalArticle

55 Scopus citations

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 languageEnglish (US)
Pages (from-to)287-333
Number of pages47
JournalEnergy Journal
Volume20
Issue numberSPEC. ISS.
DOIs
StatePublished - 1999
Externally publishedYes

ASJC Scopus subject areas

  • Economics and Econometrics
  • Energy(all)

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