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Cover IMF Working Papers
Disposal is Not Free: Fiscal Instruments to Internalize the Environmental Costs of Solid Waste
Ms. Thornton Matheson
This paper provides an overview of global solid waste generation, its environmental costs, and fiscal instruments that can be used to encourage waste reduction and finance proper disposal. Countries—especially island nations--struggle to manage an ever-increasing volume of solid waste, generation of which is projected to exceed 2 billion tons a year by 2025. Although solid waste management is usually relegated to subnational governments, externalities from inadequate management, which include greenhouse gas emissions and ocean plastic pollution, reach global scale. National governments thus play a critical role in creating incentives for waste minimization and ensuring adequate resources for proper waste management. This paper evaluates potential fiscal instruments to achieve these goals, particularly in developing country policy environments.
Keywords:
WP; waste disposal; property tax; disposal cost; generation rate; government waste management plan; local government; environmental tax; solid waste; plastic bag tax; recycling; landfill tax; tipping fee; advance disposal fee; deposit-refund; extended producer responsibility; virgin material tax; waste generation; Income; Consumption; Public expenditure review; Greenhouse gas emissions; Global; Africa
Cover IMF Working Papers
Welfare vs. Income Convergence and Environmental Externalities
Mr. Geoffrey J Bannister and Mr. Alex Mourmouras
We present estimates of welfare by country for 2007 and 2014 using the methodology of Jones and Klenow (2016) which incorporates consumption, leisure, mortality and inequality, and we extend the methodology to include environmental externalities. During the period of the global financial crisis welfare grew slightly more rapidly than income per capita, mainly due to improvements in life expectancy. This led to welfare convergence in most regions towards advanced country levels. Introducing environmental effects changes the welfare ranking for countries that rely heavily on natural resources, highlighting the importance of the natural resource base in welfare. This methodology could provide a theoretically consistent and tractable way of monitoring progress in several Sustainable Development Goal (SDG) indicators.
Keywords:
WP; life expectancy; per capita income; financial crisis; natural resources; Welfare; convergence; income; environment; externalities; income country; income share; log ratio; reference country; Consumption; Greenhouse gas emissions; Income inequality; Asia and Pacific; Global; Europe; North America; Middle East