Ecological Modernisation in Japan: The Role of Interest Rate Subsidies and Voluntary Pollution Control Agreements

Robert Elliott () and Toshihiro Okubo

No 2016-008, Keio-IES Discussion Paper Series from Institute for Economics Studies, Keio University

Abstract: The need for developed countries to take a lead in the global fight against climate change is generally acknowledged and was intrinsic to the recent Paris climate change agreement. An understanding of the way in which environmental policy in advanced nations has developed and which policies had a significant impact on the reduction in the emissions of various pollutants may yield important policy prescriptions relevant to the current climate change negotiations. In this paper we consider how Japan's little known environmental interest rate policy and voluntary pollution control agreements contributed to Japan's ecological modernisation and how these policies compared to the more traditional regulatory approach. Our results show that Japan's use of an environmental interest rate policy was an effective policy as a complement to the more traditional regulatory approach.

Keywords: Environmental; regulations (search for similar items in EconPapers)
JEL-codes: H2 H23 O13 O31 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2016-03-29
New Economics Papers: this item is included in nep-agr, nep-ene, nep-env and nep-res
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Journal Article: Ecological Modernization in Japan: The Role of Interest Rate Subsidies and Voluntary Pollution Control Agreements (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:keo:dpaper:2016-008

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