Economic Analysis Of Environmental Policies

The relationship between economic growth and the environment is at the forefront of public attention and poses serious challenges for policymakers around the world. Economic Analysis of Environmental Policy, a textbook for advanced undergraduate and graduate courses, provides a rigorous and thorough explanation of modern environmental economics, applying this exposition to contemporary issues and policy analysis. Opening with a discussion of contemporary pollution problems, institutional players and the main policy instruments at our disposal, Ross McKitrick develops core theories of environmental valuation and optimal control of pollution. Chapters that follow cover issues like tradable permits, regulatory standards, emission taxes, and polluter liability as well as advanced topics like trade and the environment, sustainability, risk, inequality, and self-monitoring. Throughout, McKitrick uses clear, intuitive, and coherent analytical tools, so that students, academics, and practitioners can develop their policy analysis skills while comprehending the debates and challenges at the frontier of this exciting and rapidly-developing field.

The relationship between economic growth and the environment is at the forefront of public attention and poses serious challenges for policymakers around the world. Economic Analysis of Environmental Policy, a textbook for advanced undergraduate and graduate courses, provides a rigorous and thorough explanation of modern environmental economics, applying this exposition to contemporary issues and policy analysis. Opening with a discussion of contemporary pollution problems, institutional players and the main policy instruments at our disposal, Ross McKitrick develops core theories of environmental valuation and optimal control of pollution. Chapters that follow cover issues like tradable permits, regulatory standards, emission taxes, and polluter liability as well as advanced topics like trade and the environment, sustainability, risk, inequality, and self-monitoring. Throughout, McKitrick uses clear, intuitive, and coherent analytical tools, so that students, academics, and practitioners can develop their policy analysis skills while comprehending the debates and challenges at the frontier of this exciting and rapidly-developing field.

Over the past decades, governments have gradually adopted more rigorous environmental policies to tackle challenges associated with pressing environmental issues, such as climate change. The ambition of these policies is, however, often tempered by their perceived negative effects on the economy.

This comprehensive and accessible textbook addresses important relationships between economics and environmental policy, highlighting in particular the role of taxation. It also connects environmental policy to social accounting by describing how measures of welfare and sustainable development depend on whether policies successfully internalize market failures.

This revised and updated guide to the environmental economics of development projects demonstrates how the environmental impacts of projects can be translated into monetary values. The theoretical bases are examined, and the techniques themselves given detailed exposition, supported by extensive case studies illustrating a wide range of applications. The text should become a useful complement to all standard forms of project analysis.

It has always been thought that some level of pollution and waste is unavoidable in development projects. But no one has made much effort to quantify and assess the extent of this sort of damage. In this book a group of analysts from the Asian Development Bank and from the East West Center propose a means of constructing useful economic evaluations of the impacts of development projects on the environments in which they are constructed. This study demands the systematic evaluation of all the intentional and unintentional consequences of development initiatives before they are determined upon. It is essential reading for development economists, analysts and bankers. Originally published in 1986

1. ENVIRONMENTAL POLICY ANALYSIS: WHAT AND WHY? Why environmental policy analysis? Environmental issues are growing in visibility in local, national, and world arenas, as a myriad of human activities leads to increased impacts on the natural world. Issues such as climate change, endangered species, wilderness protection, and energy use are regularly on the front pages of newspapers. Governments at all levels are struggling with how to address these issues. Environmental policy analysis is intended to present the environmental and social impacts of policies, in the hope that better decisions will result when people have better information on which to base those decisions. Conducting environmental policy analysis requires people who understand what it is and how to do it. Interpreting it also requires those skills. We hope that this book will increase the abilities, both of analysts and of decision-makers, to understand and interpret the impacts of environmental policies. Policy analysis books almost invariably begin by pointing out that policy analysis can take many forms. This book is no different. As you will see in Chapter 1, we consider policy analysis to be information provided for the policy process. That information can take many forms, from sophisticated empirical analysis to general theoretical results, from summary statistics to game theoretic strategies.