- Title Pages
- Prologue
- Foreword
- Acknowledgements
- Contributors
- Introduction
- Notes
- Defining Global Public Goods
- Intergenerational Public Goods
- The Political Economy of International Cooperation
- Case Studies
- Equity and Justice
- Equity in a Global Public Goods Framework
- Distributive Justice as an International Public Good
- Global Justice
- Market Efficiency
- Deep Integration and Trade Agreements
- International Financial Instability
- Environment and Cultural Heritage
- Montreal versus Kyoto
- New Strategies for the Provision of Global Public Goods
- Cultural Heritage as Public Good
- Health
- Global Epidemiological Surveillance
- Health as a Global Public Good
- Knowledge and Information
- Knowledge as a Global Public Good
- Global Communications for a More Equitable World
- The Public Face of Cyberspace
- Peace and Security
- Preventing Deadly Conflict
- Peace as a Global Public Good
- International Public Goods and the Case for Foreign Aid
- Regional Public Goods in International Assistance
- Global Public Goods
- Glossary
- Further Reading
- About the Contributors
- Index
International Financial Instability
International Financial Instability
- Chapter:
- (p.152) International Financial Instability
- Source:
- Global Public Goods
- Author(s):
Charles Wyplosz (Contributor Webpage)
- Publisher:
- Oxford University Press
If the Montreal Protocol has been so successful in reducing the production and use of ozone‐depleting substances, why cannot an effective treaty to control greenhouse gas emissions be put into place? Barrett's examination of this issue reveals two findings. First, the underlying economics of addressing climate change and ozone depletion are different. A study that guided policymakers at an early stage of ozone negotiations found that the costs of reducing ozone‐depleting substances were small relative to the benefits. In contrast, the best studies available today suggest that the costs of reducing greenhouse gas emissions by a substantial amount match or exceed the benefits only slightly. Second, Barrett argues that in the absence of a central global authority, international treaties must be self‐enforcing or must include credible incentives for compliance and disincentives to discourage noncompliance. Thus, the Montreal Protocol, while effective, cannot simply be redrafted to address the climate change problem. Rather, reducing greenhouse gases poses new challenges for burden‐sharing and effective implementation.
Keywords: climate change, climate stability, compliance with treaties, global public goods, greenhouse gases, incentives, international cooperation, Kyoto Protocol, Montreal Protocol, ozone layer, self‐enforcing treaties
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- Title Pages
- Prologue
- Foreword
- Acknowledgements
- Contributors
- Introduction
- Notes
- Defining Global Public Goods
- Intergenerational Public Goods
- The Political Economy of International Cooperation
- Case Studies
- Equity and Justice
- Equity in a Global Public Goods Framework
- Distributive Justice as an International Public Good
- Global Justice
- Market Efficiency
- Deep Integration and Trade Agreements
- International Financial Instability
- Environment and Cultural Heritage
- Montreal versus Kyoto
- New Strategies for the Provision of Global Public Goods
- Cultural Heritage as Public Good
- Health
- Global Epidemiological Surveillance
- Health as a Global Public Good
- Knowledge and Information
- Knowledge as a Global Public Good
- Global Communications for a More Equitable World
- The Public Face of Cyberspace
- Peace and Security
- Preventing Deadly Conflict
- Peace as a Global Public Good
- International Public Goods and the Case for Foreign Aid
- Regional Public Goods in International Assistance
- Global Public Goods
- Glossary
- Further Reading
- About the Contributors
- Index
