The paradox of climate policy diffusion

Ivan Savin, Philipp Mundt and Margherita Bellanca

No 196, BERG Working Paper Series from Bamberg University, Bamberg Economic Research Group

Abstract: Prior research produced contradicting evidence regarding the role of international influence in the diffusion of climate policies. To unravel this puzzle, we examine various policy instruments adopted by G20 countries, demonstrating that peer pressure stimulates convergence in the number of new policies adopted but divergence in their stringency. This suggests that policymakers emulate the appearance of their peers but not the rigor of regulation, creating opportunities for carbon leakage.

Keywords: climate change; market instruments; policy adoption; variance decomposition; spatial model (search for similar items in EconPapers)
JEL-codes: C21 F18 F42 F64 Q56 (search for similar items in EconPapers)
Date: 2024
New Economics Papers: this item is included in nep-ene and nep-env
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bamber:305288

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