Abstract:More than 10 years of climate policy negotiations have produced the Kyoto Protocol, the first legally binding international agreement on climate protection, which may enter into force in the near future. Opponents to the Protocol have condemned it as a "deeply flawed agreement that manages to be both economically inefficient and politically impractical" (McKibbin and Wilcoxen 2002, p.107). This article sustains a more positive perspective on the Kyoto architecture. Key elements of the Protocol comply with basi… Show more
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