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Economic and Environmental Impacts of the Kyoto Protocol

Christoph Böhringer and Carsten Vogt
The Canadian Journal of Economics / Revue canadienne d'Economique
Vol. 36, No. 2 (May, 2003), pp. 475-494
Published by: Wiley on behalf of the Canadian Economics Association
Stable URL: http://www.jstor.org/stable/3131853
Page Count: 20
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Economic and Environmental Impacts of the Kyoto Protocol
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Abstract

In 2003 the Kyoto Protocol, which imposes legally binding greenhouse gas emission constraints on industrialized countries, is likely to enter into force. The Protocol has been celebrated as a milestone in climate protection, but standard economic theory casts doubt that it will go beyond symbolic policy. In this paper, we show that the final concretion of the Kyoto Protocol is consistent with the theoretical prediction: Kyoto more or less boils down to business-as-usual without significant compliance costs to ratifying parties. JEL Classification: D58, Q43, Q58

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