The Impact of Uncertainty on Banking Behavior: Evidence from the US Sulfur Dioxide Emissions Allowance Trading Program

2007 ◽  
Vol 7 (4-5) ◽  
pp. 559-571 ◽  
Author(s):  
Olivier Rousse ◽  
Benoît Sévi
Keyword(s):  
Sulfur Dioxide ◽  
Sulfur Dioxide Emissions ◽  
The Us ◽  
Allowance Trading ◽  
The Impact ◽  
Trading Program

The Sulfur Dioxide Allowance-Trading Program in the USA: Recent Developments and Lessons to be Learned

1998 ◽  
Vol 16 (3) ◽  
pp. 341-361 ◽  
Author(s):  
B Hansjürgens
Keyword(s):  
Sulfur Dioxide ◽  
Emission Trading ◽  
Tradeable Permits ◽  
Trading Market ◽  
The Us ◽  
Allowance Trading ◽  
Recent Developments ◽  
The Usa ◽  
Trading Program ◽  
Quality Policy

The US Allowance Trading Program, which is an emission-trading program for sulfur dioxide, was put into effect on 1 January 1995. It is the first comprehensive attempt in US air-quality policy to practice the idea of emission trading. More than two years after its implementation, the allowance market offers the unique opportunity of evaluating the efficiency of tradeable-permit markets on a practical basis, rather than a solely theoretical one. The author analyzes the recent developments in the allowance-trading market and alternative ‘explanations’ used in attempts to explain low trading activity and low allowance prices. The author concludes that the present allowance price will prove to be equal to the abatement costs; the allowance-trading program is not only ecologically effective but is also economically efficient; and it plays an important role in the development of future tradeable-permits markets.

scholarly journals What Can We Learn from the Grand Policy Experiment? Lessons from SO2 Allowance Trading

1998 ◽  
Vol 12 (3) ◽  
pp. 69-88 ◽  
Author(s):  
Robert N Stavins
Keyword(s):  
Political Economy ◽  
Sulfur Dioxide ◽  
Acid Rain ◽  
Clean Air Act ◽  
Design And Implementation ◽  
Allowance Trading ◽  
Clean Air ◽  
Policy Experiment ◽  
And Performance ◽  
Trading Program

The most ambitious application ever attempted of a market-based approach to environmental protection has been for the control of acid rain under the Clean Air Act amendments of 1990, which established a sulfur dioxide allowance trading program. This essay identifies lessons that can be learned from this grand experiment in economically oriented environmental policy. The author examines positive political economy lessons, asking why this system was adopted from acid-rain control in 1990, and he considers normative lessons that can be learned from the program's structure and performance, focusing on lessons for the design and implementation of future systems.

Efficient Pollution Regulation: Getting the Prices Right

2009 ◽  
Vol 99 (5) ◽  
pp. 1714-1739 ◽  
Author(s):  
Nicholas Z. Muller ◽  
Robert Mendelsohn
Keyword(s):  
Air Pollution ◽  
Sulfur Dioxide ◽  
Power Plants ◽  
Environmental Regulations ◽  
Welfare Gain ◽  
Abatement Costs ◽  
Pollution Regulation ◽  
Marginal Abatement Costs ◽  
Allowance Trading ◽  
Trading Program

This paper argues for efficient environmental regulations that equate the marginal damage of pollution to marginal abatement costs across space. The paper estimates the source-specific marginal damages of air pollution and calculates the welfare gain from making the current sulfur dioxide allowance trading program for power plants more efficient. The savings from using trading ratios based on marginal damages are between $310 and $940 million per year. The potential savings from setting aggregate emissions efficiently and from including more sources of air pollution are many times higher. (JEL H23, Q53, Q58)

When Cap-and-Trade Works

2018 ◽  
pp. 125-162
Author(s):  
Barry G. Rabe
Keyword(s):  
Climate Change ◽  
Energy Efficiency ◽  
Renewable Energy ◽  
Sulfur Dioxide ◽  
Greenhouse Gas ◽  
Emissions Trading ◽  
Political Support ◽  
Cap And Trade ◽  
Sulfur Dioxide Emissions ◽  
Trading Program

Cap-and-trade has also faced numerous political challenges but also includes some more successful cases. Some of the experience of the American sulfur dioxide emissions trading program has been replicated for carbon in the case of the Regional Greenhouse Gas Initiative. This alliance among nine Northeastern states has retained political support for more than a decade and also pioneered a system to auction allowances to generate revenue. These funds are then concentrated on expansion of energy efficiency and renewable energy in the region, thereby further addressing climate change and also building a broader base of political support.

scholarly journals Relationship between economic growth and SO2 emissions - based on the PSTR model

2019 ◽  
Vol 10 (2) ◽  
pp. 137-156 ◽  
Author(s):  
Ke Wu
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Sulfur Dioxide ◽  
Positive Impact ◽  
Threshold Value ◽  
Smooth Transition ◽  
Eastern Region ◽  
So2 Emissions ◽  
Sulfur Dioxide Emissions ◽  
The Impact

Abstract In this paper, we used the panel smooth transition model (PSTR) to study the nonlinear relationship between sulfur dioxide emissions and economic growth in the three regions of China’s eastern, middle and western regions, based on panel data from 31 provinces and autonomous regions in China from 2005 to 2017. And calculated the elasticity of the impact of total export-import volume and urbanization rate on emissions. The empirical results indicate that economic development and sulfur dioxide emissions are positively correlated in the three regions of East, Middle and West. In the eastern region, when the economic scale is lower than the threshold value, it has a negative impact on SO2 emissions; but when it is higher than the threshold value, it has a positive impact on SO2 emissions, and the smoothing rate between the two regime is slow. The per capita GDP in the middle and western regions is weakly positively correlated with SO2 emissions. When the economic scale reaches the threshold value, its positive impact on SO2 emissions will increase, and economic development will further increase emissions.

scholarly journals Does Green Credit Policy Move the Industrial Firms Toward a Greener Future? Evidence From a Quasi-Natural Experiment in China

2022 ◽  
Vol 9 ◽  
Author(s):  
Zumian Xiao ◽  
Lu Yu ◽  
Yinwei Liu ◽  
Xiaoning Bu ◽  
Zhichao Yin
Keyword(s):  
Sulfur Dioxide ◽  
Large Scale ◽  
Natural Experiment ◽  
Pollutant Emissions ◽  
Chinese Government ◽  
Eastern Region ◽  
Credit Policy ◽  
Firm Level ◽  
Sulfur Dioxide Emissions ◽  
The Impact

How to utilize financial instrument to deal with environmental issues has been a focal topic. Taking the introduction of green credit program as a “quasi-natural experiment,” the propensity score matching and difference-in-difference approach (PSM-DID) are used to investigate the impact of the green credit policy implemented by Chinese government on firm-level industrial pollutant emissions. The estimation results indicate that the green credit policy significantly reduces corporate sulfur dioxide emissions. Heterogeneity analysis shows this impact is more pronounced for large-scale enterprises and enterprises located in the eastern region. The estimated mediation models reveal that after the implementation of the green credit policy, reduction in sulfur dioxide emissions can be attribute to the increased environmental investment and improved energy consumption intensity. Moreover, the green credit policy is also significantly effective in mitigating the discharge of other common industrial pollutants. Our findings highlight the importance of green credit policies in achieving greener industrial production and more sustainable economic development.

scholarly journals The Impact of China`s Acid Rain and Sulfur Dioxide Control Zones Policy on Industrial Sulfur Dioxide Emissions: A Panel Analysis

2011 ◽  
Vol 26 (2) ◽  
pp. 77-100
Author(s):  
Wu Yu Jia
Keyword(s):  
Sulfur Dioxide ◽  
Acid Rain ◽  
Fixed Effects ◽  
Chinese Government ◽  
Kuznets Curve ◽  
Panel Analysis ◽  
So2 Emissions ◽  
Control Zone ◽  
Sulfur Dioxide Emissions ◽  
The Impact

In order to control sulfur dioxide (SO2) emissions, the Chinese government in 1998 implemented the Acid Rain and Sulfur Dioxide Emission Control Zones policy (known as the Two Control Zone or TCZ policy). In a panel analysis of the impact of the TCZ policy on China`s industrial SO2 emissions, two-way fixed-effects models show that it did not significantly reduce either per capita SO2 emissions or SO2 intensity in China. The study also reveals that instead of the traditional inverted U-shaped Environmental Kuznets Curve, the relationship between income growth and sulfur pollution in China favors an N-shaped pattern. The empirical results indicate that the TCZ policy has not had a consistent, longterm impact on sulfur pollution control. This is in accord with previous studies and the actual situation in the two control zones. This paper presents two policy recommendations for improving the mitigation of SO2 pollution in China.

Systematic review methodology for development: An example from microfinance

2018 ◽  
Vol 43 (1) ◽  
pp. 65-77 ◽  
Author(s):  
Carina Van Rooyen ◽  
Ruth Stewart ◽  
Thea De Wet
Keyword(s):  
Systematic Review ◽  
International Development ◽  
Health Sector ◽  
Evidence Based ◽  
Systematic Review Methodology ◽  
Development Interventions ◽  
The Us ◽  
Sub Saharan ◽  
The Impact ◽  
Evidence Based Decision Making

Big international development donors such as the UK’s Department for International Development and USAID have recently started using systematic review as a methodology to assess the effectiveness of various development interventions to help them decide what is the ‘best’ intervention to spend money on. Such an approach to evidence-based decision-making has long been practiced in the health sector in the US, UK, and elsewhere but it is relatively new in the development field. In this article we use the case of a systematic review of the impact of microfinance on the poor in sub-Saharan African to indicate how systematic review as a methodology can be used to assess the impact of specific development interventions.

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