The framework of the European emission allowance trading scheme: an environmental Bretton Woods

Romain Frémont

Revue d'Économie Financière, 2006, vol. 83, issue 2, 29-43

Abstract: [eng] The Kyoto Protocol created an original international monetary system, the purpose of which was to stabilise climatic conditions. Its characteristics are in many ways similar to the structure put in place at the Bretton Woods conference. It could even be said that the European allowance exchange system has gone further than Bretton Woods as the environmental monetary policies of the member States are primarily based on coordination in order to maintain a degree of parity in the absence of a regulator in the IMS. In practice, competition between the international standard (AAU) introduced by the Kyoto Protocol and the single European currency (EUA) introduced by the European directive has already begun. The promising start made by the European market suggests that the European allowance has significant potential to develop and may rapidly become the international currency standard to which the other environmental currencies will find themselves pegged. . JEL classification : Q54, Q58

Date: 2006
Note: DOI:10.3406/ecofi.2006.4421
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.3406/ecofi.2006.4421 (text/html)
https://www.persee.fr/doc/ecofi_1767-4603_2006_num_83_2_4421 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prs:recofi:ecofi_1767-4603_2006_num_83_2_4421

Access Statistics for this article

Revue d'Économie Financière is currently edited by Association d'Économie Financière

More articles in Revue d'Économie Financière from Programme National Persée
Bibliographic data for series maintained by Equipe PERSEE ().