Bilateral transfers and lending in international environmental cooperation

Kari Alho

Environmental & Resource Economics, 1992, vol. 2, issue 2, 220 pages

Abstract: The paper analyzes environmental lending and transfers in a two country general equilibrium framework. The lender country chooses specific environmental investments which it finances in the neighbour country on the basis of the returns they generate for the lender. The gains from this kind of international environmental financing are illustrated with a numerical calibration of the model showing that the gains to the lender country may be fairly sizable in relation to the expenditure directed currently towards environmental protection. These gains, however, essentially depend on the terms of the environmental financing. We also find that debt-for-nature swaps do not in general produce efficient environmental protection if applied uniformly in international environmental financing. Copyright Kluwer Academic Publishers 1992

Keywords: International environmental cooperation; environmental financing; debt-for-nature swap (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/BF00338243

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