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International Monetary Fund. External Relations Dept.

In many countries, poverty and environmental problems are mutually reinforcing. The only way to break this vicious cycle is to promote sustainable economic growth, which is one of the IMF’s core objectives. To highlight possibilities for sustainable growth and environmentally friendly policies, the Statistics Department and the IMF Institute hosted a seminar on the environment and its implications for the IMF. The immediate motivation for the seminar was a new handbook on environmental accounting: Integrated Environmental and Economic Accounting 2003 (IEEA, 2003), now in its final draft version. Five international organizations—the United Nations (UN), the European Commission, the IMF, the Organization for Economic Cooperation and Development (OECD), and the World Bank—worked with the London Group on Environmental Accounting (mainly composed of national statisticians with an interest in environmental accounts) to draft and publish the handbook. Adriaan Bloem and Russel Freeman, both from the IMF’s Statistics Department, give an account of the seminar’s main findings.

Ms. Valerie Reppelin and Mr. John Norregaard

Abstract

Se examinan diferentes formas de controlar la contaminación a través de impuestos o licencias “verdes” y se evalúan sus ventajas y desventajas. Si bien muchos países utilizan impuestos ambientales, el interés en los permisos negociables va en aumento.

Ms. Valerie Reppelin and Mr. John Norregaard

Abstract

Explores different ways of controlling pollution through -green-taxes or permits, and evaluates their advantages and disadvantages. While many countries use environmental taxes, interest in tradable permits is growing.

Ms. Valerie Reppelin and Mr. John Norregaard

Abstract

Explores different ways of controlling pollution through -green-taxes or permits, and evaluates their advantages and disadvantages. While many countries use environmental taxes, interest in tradable permits is growing.

Ms. Valerie Reppelin and Mr. John Norregaard

Abstract

In December 1997, 160 nations meeting in Kyoto, Japan agreed to cut back emissions of carbon dioxide and other greenhouse gases. While ratified by only a very small number of countries so far, the “Kyoto Protocol” calls for industrial countries to reduce their average emissions during 2008-12 to about 5 percent below 1990 levels. Some countries pledged to go further: the European Union set an 8 percent target, while the Unites States and Japan agreed to cut emissions by 7 and 6 percent, respectively. The Protocol allows some industrial countries to modestly increase their emissions in the near term, while special terms apply to members of the former Soviet Union. Since developing countries face potential technical and economic constraints, the Protocol does not oblige them to cut back their emissions.

Ms. Valerie Reppelin and Mr. John Norregaard

Abstract

Explores different ways of controlling pollution through -green-taxes or permits, and evaluates their advantages and disadvantages. While many countries use environmental taxes, interest in tradable permits is growing.

Ms. Valerie Reppelin and Mr. John Norregaard

Abstract

Explores different ways of controlling pollution through -green-taxes or permits, and evaluates their advantages and disadvantages. While many countries use environmental taxes, interest in tradable permits is growing.

International Monetary Fund
This Selected Issues paper focuses on recent developments with Kiribati’s Revenue Equalization Reserve Fund (RERF). The paper also examines fiscal aspects of climate change, and considers options for improving fishing license fees, which remain an important source of revenue. It also analyzes recent developments and the outlook for remittances to Kiribati, which is another important source of external revenue and brings important economic benefits, such as reducing poverty and stabilizing national income.
Mr. John Norregaard and Ms. Valerie Reppelin
This paper examines the relative merits of two dominant economic instruments for reducing pollution—”green” taxes and tradable permits. Theoretically, the two instruments share many similarities, and on balance, neither seems preferable to the other. In practice, however, most countries have relied more on taxes than on permits to control pollution. The analysis suggests a number of lessons to be learned from country experiences regarding the design and implementation of both instruments. While many, particularly European countries, currently have long-term programs involving environmental taxes, a willingness to experiment with tradable permits seems to be growing, especially given the Kyoto protocol emission targets.