GREENHOUSE-GAS EMISSION CONTROLS IN AN OPEN ECONOMY

Jota Ishikawa and Kazuharu Kiyono

International Economic Review, 2006, vol. 47, issue 2, 431-450

Abstract: To examine how greenhouse-gas emission controls affect a country's industrial and trade structures, this article presents an open economy model that has both Ricardian and Heckscher-Ohlin features. We specifically compare emission quotas, emission taxes, and emission standards. The patterns of production and trade critically hinge on those policy tools. It is shown that a domestic emission control may lead to carbon leakage and may not reduce the world emissions, and that emission standards may work as a "hidden" production subsidy toward an emission-intensive industry. Copyright 2006 by the Economics Department Of The University Of Pennsylvania And Osaka University Institute Of Social And Economic Research Association.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ier:iecrev:v:47:y:2006:i:2:p:431-450

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