Public Expenditure Policy and the Environment: A Review and Synthesis

Kenneth M. Miranda, Ian Parry and Sanjeev Gupta

No 1993/027, IMF Working Papers from International Monetary Fund

Abstract: Commonly cited environmental instruments in the legal, regulatory, and fiscal domains are intended primarily to address market failures to ensure that environmental degradation and resource use is contained to appropriate levels. However, in many instances, environmental degradation is rooted not in market failure, but rather in policy failure. This paper identifies areas of public expenditure policy that interact with the environment. It argues that a reform of certain types of subsidies, increased operations and maintenance expenditures, and a thorough environmental assessment of capital projects will tend to benefit the environment, thereby moving an economy towards ‘sustainable’ development.

Keywords: WP; balance of payments; environmental damage; public expenditure; supply curve; welfare cost bde; subsidy reform; input subsidy; pesticide subsidy; irrigation subsidy; fertilizer subsidy; output subsidy; reform proceeds; Agroindustries; Environmental policy; Government subsidies; Global (search for similar items in EconPapers)
Pages: 42
Date: 1993-03-01
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Journal Article: Public expenditure policy and the environment: A review and synthesis (1995)
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