Induced innovation and international environmental agreements: Evidence from the ozone regime

Eugenie Dugoua

CEP Discussion Papers from Centre for Economic Performance, LSE

Abstract: This paper revisits one of the rare success stories in global environmental cooperation: the Montreal Protocol and the phase-out of ozone-depleting substances. I show that the protocol increased science and innovation on alternatives to ozone-depleting substances and argue that agreements can indeed be useful to solving global public goods problems. This contrasts with game-theoretical predictions that agreements occur only when costs to the players are low, and with the often-heard narrative that substitutes were readily available. I reconcile theory and empirics by discussing the role of induced innovation in models of environmental agreements.

Keywords: induced innovation; directed technological change; green innovation (search for similar items in EconPapers)
Date: 2023-09-22
New Economics Papers: this item is included in nep-env and nep-ino
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Persistent link: https://EconPapers.repec.org/RePEc:cep:cepdps:dp1947

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