Economics and the Global Environment

Economics and the Global Environment is a path-breaking, comprehensive analysis of how economic and environmental systems mesh in the international context. The book investigates if and how environmental resources, such as global climate, genetic diversity, and transboundary pollution can be managed in an international system of sovereign states without a Global Environment Protection Agency. It also considers traditional international economics - theory and policy - and explores how they can be expanded to accommodate environmental values. Until recently, trade theory and trade policy neglected pollution and environmental degradation. This situation has changed dramatically, and the controversial and corrosive issues of trade and the environment are here given careful analysis. These topics are enriched by a concise presentation of the principles of environmental economics, and a thoughtful treatment of sustainable development. The book will appeal to students and practitioners of trade and development, as well as the environmental community.

1. Introduction and plan of the book; 2. Interactions and tradeoffs; 3. Welfare, efficiency, equity, and the roots of environmental degradation; 4. Issues of time; 5. How clean is clean enough?; 6. The Government's tool kit; 7. Trade and environment: an overview of theory; 8. Theory of Trade and environment: a diagrammatic exposition; 9. Theory of policy: partial equilibrium, terms of trade and distributional issues; 10. Trade-environment policy: evolution of the debate and taxonomy of the issues; 11. Institutional and policy responses: OECD, WTO/GATT. EU, NAFTA; 12. Empirical studies; 13. International environmental externalities: theory and policy responses; 14. Economics and global warming; 15. Economics and ocean fisheries; 16. Perspectives on sustainable development; 17. Measuring sustainable development; 18. Trade, environment and sustainable development: Thailand's mixed experience; 19. Looking back, looking forward.