The Global Political Economy of a Green Transition

Giorgos Galanis, Giorgio Ricchiuti and Ben Tippet

Working Papers - Economics from Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa

Abstract: Countries respond differently to climate change and while this resulting behavioral heterogeneity is empirically observed, its relationship to the evolution of global climate action has not been analysed. This paper fills this gap by developing a novel integrated assessment international political economy model (IPE-IAM). Our model shows the possibility of a number of outcomes, where high levels of sustained global action is only one possibility. We show that the model fits the observed increase in global climate action from 1989 to today, however, given estimated parameters, the expected trajectory to 2050 is that global climate action will not continue to rise and net zero will not be reached. In order to achieve a high level of sustained global action, a low degree of heterogeneity regarding countries' preferences for action and a strong peer pressure effect is required.

Keywords: Green Transition; Discrete Choice Model; Political Economy (search for similar items in EconPapers)
JEL-codes: C62 E7 F5 Q5 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2022
New Economics Papers: this item is included in nep-cdm, nep-dcm, nep-ene and nep-env
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Related works:
Working Paper: The Global Political Economy of a Green Transition (2023)
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