Oxford Review of Economic Policy volume 24, issue 2, P239-258 2008 DOI: 10.1093/oxrep/grn015 View full text
S. Barrett

Abstract: The emission limits in the Kyoto Protocol are too generous. Simply tightening these limits, however, will not make a new climate treaty any more effective at addressing climate change unless the other problems with Kyoto are also addressed. A new climate treaty arrangement must enforce both participation and compliance. This might be done by applying an enforcement mechanism, such as a trade restriction, to a new treaty styled after Kyoto. Potent trade restrictions, however, may lack credibility and legitimacy…

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