Sustainable Finance and Climate Change: Wasteful but a Political Commitment Device?
Author
Suggested Citation
Download full text from publisher
Other versions of this item:
- Fuest, Clemens & Meier, Volker, 2023. "Sustainable finance and climate change: Wasteful but a political commitment device?," Journal of Environmental Economics and Management, Elsevier, vol. 118(C).
References listed on IDEAS
- Daron Acemoglu & Philippe Aghion & Leonardo Bursztyn & David Hemous, 2012.
"The Environment and Directed Technical Change,"
American Economic Review, American Economic Association, vol. 102(1), pages 131-166, February.
- Daron Acemoglu & Philippe Aghion & Leonardo Bursztyn & David Hemous, 2009. "The Environment and Directed Technical Change," NBER Working Papers 15451, National Bureau of Economic Research, Inc.
- Aghion, Philippe & Acemoglu, Daron & Hémous, David & Bursztyn, Leonardo, 2011. "The Environment and Directed Technical Change," CEPR Discussion Papers 8660, C.E.P.R. Discussion Papers.
- Acemoglu, Daron & Aghion, Philippe & Bursztyn, Leonardo & Hemous, David, 2010. "The Environment and Directed Technical Change," Sustainable Development Papers 92839, Fondazione Eni Enrico Mattei (FEEM).
- Acemoglu, Daron & Aghion, Philippe & Bursztyn, Leonardo & Hemous, David, 2010. "The Environment and Directed Technical Change," Seminar Papers 762, Stockholm University, Institute for International Economic Studies.
- Daron Acemoglu & Philippe Aghion & Leonardo Bursztyn & David Hemous, 2010. "The Environment and Directed Technical Change," Working Papers 2010.93, Fondazione Eni Enrico Mattei.
- Dieter Helm & Cameron Hepburn & Richard Mash, 2003. "Credible Carbon Policy," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 19(3), pages 438-450.
- Rozenberg, Julie & Vogt-Schilb, Adrien & Hallegatte, Stephane, 2020.
"Instrument choice and stranded assets in the transition to clean capital,"
Journal of Environmental Economics and Management, Elsevier, vol. 100(C).
- Rozenberg, Julie & Vogt-Schilb, Adrien & Hallegatte, Stephane, 2017. "Instrument Choice and Stranded Assets in the Transition to Clean Capital," IDB Publications (Working Papers) 8205, Inter-American Development Bank.
- Gunnar Friede & Timo Busch & Alexander Bassen, 2015. "ESG and financial performance: aggregated evidence from more than 2000 empirical studies," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 5(4), pages 210-233, October.
- Arno Riedl & Paul Smeets, 2017.
"Why Do Investors Hold Socially Responsible Mutual Funds?,"
Journal of Finance, American Finance Association, vol. 72(6), pages 2505-2550, December.
- Arno Riedl & Paul Smeets, 2013. "Why Do Investors Hold Socially Responsible Mutual Funds?," CESifo Working Paper Series 4403, CESifo.
- Thomas Eichner & Rüdiger Pethig, 2011.
"Carbon Leakage, The Green Paradox, And Perfect Future Markets,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 52(3), pages 767-805, August.
- Thomas Eichner & Rüdiger Pethig, 2009. "Carbon Leakage, the Green Paradox and Perfect Future Markets," CESifo Working Paper Series 2542, CESifo.
- Thomas Eichner & Rüdiger Pethig, 2009. "Carbon leakage, the green paradox and perfect future markets," Volkswirtschaftliche Diskussionsbeiträge 136-09, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
- Fischer, Carolyn & Newell, Richard G., 2008.
"Environmental and technology policies for climate mitigation,"
Journal of Environmental Economics and Management, Elsevier, vol. 55(2), pages 142-162, March.
- Fischer, Carolyn & Newell, Richard, 2004. "Environmental and Technology Policies for Climate Mitigation," RFF Working Paper Series dp-04-05, Resources for the Future.
- Rahel Aichele & Gabriel Felbermayr, 2015.
"Kyoto and Carbon Leakage: An Empirical Analysis of the Carbon Content of Bilateral Trade,"
The Review of Economics and Statistics, MIT Press, vol. 97(1), pages 104-115, March.
- Rahel Aichele & Gabriel Felbermayr & Gabriel J. Felbermayr, 2011. "Kyoto and Carbon Leakage: An Empirical Analysis of the Carbon Content of Bilateral Trade," CESifo Working Paper Series 3661, CESifo.
- Alberto Alesina & Guido Tabellini, 1990.
"A Positive Theory of Fiscal Deficits and Government Debt,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 57(3), pages 403-414.
- Tabellini, Guido & Alesina, Alberto, 1990. "A Positive Theory of Fiscal Deficits and Government Debt," Scholarly Articles 3612769, Harvard University Department of Economics.
- Böhringer, Christoph & Rosendahl, Knut Einar & Storrøsten, Halvor Briseid, 2017. "Robust policies to mitigate carbon leakage," Journal of Public Economics, Elsevier, vol. 149(C), pages 35-46.
- Christoph Böhringer & Carolyn Fischer & Knut Einar Rosendahl & Thomas Fox Rutherford, 2022. "Author Correction: Potential impacts and challenges of border carbon adjustments," Nature Climate Change, Nature, vol. 12(4), pages 408-408, April.
- Babiker, Mustafa H., 2005. "Climate change policy, market structure, and carbon leakage," Journal of International Economics, Elsevier, vol. 65(2), pages 421-445, March.
- Golombek Rolf & Greaker Mads & Hoel Michael, 2010. "Carbon Taxes and Innovation without Commitment," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-21, April.
- Sinn, Hans-Werner, . "The New Systems Competition: YRJÖ Jahnsson Lectures," Monographs in Economics, University of Munich, Department of Economics, number 19614, November.
- Alistair Ulph & David Ulph, 2013. "Optimal Climate Change Policies When Governments Cannot Commit," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 56(2), pages 161-176, October.
- Dyck, Alexander & Lins, Karl V. & Roth, Lukas & Wagner, Hannes F., 2019.
"Do institutional investors drive corporate social responsibility? International evidence,"
Journal of Financial Economics, Elsevier, vol. 131(3), pages 693-714.
- Alexander Dyck & Karl V. Lins & Lukas Roth & Hannes F. Wagner, 2018. "Do Institutional Investors Drive Corporate Social Responsibility? International Evidence," BAFFI CAREFIN Working Papers 1873, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
- Fischer, Carolyn & Greaker, Mads & Rosendahl, Knut Einar, 2018.
"Strategic technology policy as a supplement to renewable energy standards,"
Resource and Energy Economics, Elsevier, vol. 51(C), pages 84-98.
- Carolyn Fischer & Mads Greaker & Knut Einar Rosendahl, 2016. "Strategic Technology Policy as a Supplement to Renewable Energy Standards," CESifo Working Paper Series 5710, CESifo.
- Fischer, Fischer & Greaker, Mads & Rosendahl, Knut Einar, 2016. "Strategic technology policy as a supplement to renewable energy standards," Working Paper Series 01-2016, Norwegian University of Life Sciences, School of Economics and Business.
- Fischer, Carolyn & Fox, Alan K., 2012. "Comparing policies to combat emissions leakage: Border carbon adjustments versus rebates," Journal of Environmental Economics and Management, Elsevier, vol. 64(2), pages 199-216.
- Harrison Hong & Neng Wang & Jinqiang Yang, 2021. "Welfare Consequences of Sustainable Finance," NBER Working Papers 28595, National Bureau of Economic Research, Inc.
- Franziska Schütze & Jan Stede & Marc Blauert & Katharina Erdmann, 2020. "EU Taxonomy Increasing Transparency of Sustainable Investments," DIW Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 10(51), pages 485-492.
- Wei Jin & Rick van der Ploeg & Lin Zhang, 2020. "Do We Still Need Carbon-Intensive Capital When Transitioning to a Green Economy?," CESifo Working Paper Series 8745, CESifo.
- Oates, Wallace E. & Schwab, Robert M., 1988. "Economic competition among jurisdictions: efficiency enhancing or distortion inducing?," Journal of Public Economics, Elsevier, vol. 35(3), pages 333-354, April.
- Christoph Böhringer & Carolyn Fischer & Knut Einar Rosendahl & Thomas Fox Rutherford, 2022. "Potential impacts and challenges of border carbon adjustments," Nature Climate Change, Nature, vol. 12(1), pages 22-29, January.
- Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Fuest Clemens & Meier Volker, 2022. "Green Finance and the EU-Taxonomy for Sustainable Activities: Why Using More Direct Environmental Policy Tools Is Preferable," The Economists' Voice, De Gruyter, vol. 19(2), pages 261-266, December.
- Monasterolo, Irene & Pacelli, Antonia & Pagano, Marco & Russo, Carmine, 2024.
"A European Climate Bond,"
CEPR Discussion Papers
18988, C.E.P.R. Discussion Papers.
- Irene Monasterolo & Antonia Pacelli & Marco Pagano & Carmine Russo, 2024. "A European Climate Bond," CSEF Working Papers 702, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Emanuele Campiglio & Alessandro Spiganti & Anthony Wiskich, 2023.
"Clean Innovation, Heterogeneous Financing Costs, and the Optimal Climate Policy Mix,"
CAMA Working Papers
2023-25, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University, revised May 2024.
- Campiglio, Emanuele & Spiganti, Alessandro & Wiskich, Anthony, 2024. "Clean innovation, heterogeneous financing costs, and the optimal climate policy mix," LSE Research Online Documents on Economics 126063, London School of Economics and Political Science, LSE Library.
- Giovanardi, Francesco & Kaldorf, Matthias, 2024. "Climate change and the macroeconomics of bank capital regulation," Discussion Papers 13/2024, Deutsche Bundesbank.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Clemens Fuest & Volker Meier, 2021. "Will the Centralisation of Carbon Pricing Revenue in the EU Lead to Laxer Climate Policy?," CESifo Working Paper Series 8979, CESifo.
- Marc Baudry & Alienor Cameron, 2022.
"The case for a Carbon Border Adjustment: Where do economists stand?,"
Working Papers
hal-04159819, HAL.
- Aliénor Cameron & Marc Baudry, 2022. "The case for a Carbon Border Adjustment: Where do economists stand?," Policy Papers 2022.01, FAERE - French Association of Environmental and Resource Economists.
- Alienor Cameron & Marc Baudry, 2022. "The case for a Carbon Border Adjustment: Where do economists stand?," EconomiX Working Papers 2022-1, University of Paris Nanterre, EconomiX.
- Chiappinelli, Olga & May, Nils, 2022. "Too good to be true? Time-inconsistent renewable energy policies," Energy Economics, Elsevier, vol. 112(C).
- Renaud Coulomb & Oskar Lecuyer & Adrien Vogt-Schilb, 2019.
"Optimal Transition from Coal to Gas and Renewable Power Under Capacity Constraints and Adjustment Costs,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 73(2), pages 557-590, June.
- Lecuyer, Oskar & Vogt-Schilb, Adrien, 2014. "Optimal transition from coal to gas and renewable power under capacity constraints and adjustment costs," Policy Research Working Paper Series 6985, The World Bank.
- Oskar Lecuyer & Adrien Vogt-Schilb, 2014. "Optimal Transition from Coal to Gas and Renewable Power under Capacity Constraints and Adjustment Costs," CIRED Working Papers hal-01057241, HAL.
- Oskar Lecuyer & Adrien Vogt-Schilb, 2014. "Optimal Transition from Coal to Gas and Renewable Power under Capacity Constraints and Adjustment Costs," Working Papers hal-01057241, HAL.
- Armon Rezai & Frederick Ploeg, 2017.
"Second-Best Renewable Subsidies to De-carbonize the Economy: Commitment and the Green Paradox,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 66(3), pages 409-434, March.
- van der Ploeg, Frederick & Rezai, Armon, 2016. "Second-Best Renewable Subsidies to De-Carbonize the Economy: Commitment and the Green Paradox," CEPR Discussion Papers 11552, C.E.P.R. Discussion Papers.
- Rick Van der Ploeg & Armon Rezai, 2016. "Second-Best Renewable Subsidies To De-Carbonize The Economy: Commitment And The Green Paradox," OxCarre Working Papers 168, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
- Armon Rezai & Frederick Van der Ploeg, 2016. "Second-Best Renewable Subsidies to De-Carbonize the Economy: Commitment and the Green Paradox," CESifo Working Paper Series 5721, CESifo.
- Po‐Hsuan Hsu & Kai Li & Chi‐Yang Tsou, 2023. "The Pollution Premium," Journal of Finance, American Finance Association, vol. 78(3), pages 1343-1392, June.
- Campolmi, Alessia & Fadinger, Harald & Forlati, Chiara & Stillger, Sabine & Wagner, Ulrich, 2023.
"Designing Effective Carbon Border Adjustment with Minimal Information Requirements. Theory and Empirics,"
CEPR Discussion Papers
18645, C.E.P.R. Discussion Papers.
- Campolmi, Alessia & Fadinger, Harald & Forlati, Chiara & Stillger, Sabine & Wagner, Ulrich J., 2024. "Designing Effective Carbon Border Adjustment with Minimal Information Requirements. Theory and Empirics," Single Market Economics Papers WP2024/19, Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (European Commission), Chief Economist Team.
- Alessia Camplomi & Harald Fadinger & Chiara Forlati & Sabine Stillger & Ulrich J. Wagner, 2024. "Designing Effective Carbon Border Adjustment with Minimal Information Requirements. Theory and Empirics," CRC TR 224 Discussion Paper Series crctr224_2024_495v2, University of Bonn and University of Mannheim, Germany.
- Jia, Zhijie & Wu, Rongxin & Liu, Yu & Wen, Shiyan & Lin, Boqiang, 2024. "Can carbon tariffs based on domestic embedded carbon emissions reduce more carbon leakages?," Ecological Economics, Elsevier, vol. 220(C).
- Aliénor Cameron & Marc Baudry, 2023.
"The case for carbon leakage and border adjustments: where do economists stand?,"
Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 25(3), pages 435-469, July.
- Marc Baudry & Aliénor Cameron, 2023. "The case for carbon leakage and border adjustments: where do economists stand?," Post-Print hal-04087880, HAL.
- Jakob, Michael, 2021. "Climate policy and international trade – A critical appraisal of the literature," Energy Policy, Elsevier, vol. 156(C).
- Rickels, Wilfried & Peterson, Sonja & Felbermayr, Gabriel, 2019. "Schrittweise zu einem umfassenden europäischen Emissionshandel," Kiel Policy Brief 127, Kiel Institute for the World Economy (IfW Kiel).
- Gerard Meijden & Frederick Ploeg & Cees Withagen, 2017. "Frontiers of Climate Change Economics," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(1), pages 1-14, September.
- Xu, Qingyu & Hobbs, Benjamin F., 2021. "Economic efficiency of alternative border carbon adjustment schemes: A case study of California Carbon Pricing and the Western North American power market," Energy Policy, Elsevier, vol. 156(C).
- Eskander, Shaikh & Fankhauser, Samuel, 2021. "The impact of climate legislation on trade-related carbon emissions, 1997–2017," LSE Research Online Documents on Economics 111509, London School of Economics and Political Science, LSE Library.
- Shaikh M. S. U. Eskander & Sam Fankhauser, 2023.
"The Impact of Climate Legislation on Trade-Related Carbon Emissions 1996–2018,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 85(1), pages 167-194, May.
- Eskander, Shaikh M.S.U. & Fankhauser, Sam, 2023. "The impact of climate legislation on trade-related carbon emissions 1996–2018," LSE Research Online Documents on Economics 118331, London School of Economics and Political Science, LSE Library.
- repec:bon:boncrc:crctr224_2024_495 is not listed on IDEAS
- Ambec, Stefan & Esposito, Federico & Pacelli, Antonia, 2024.
"The economics of carbon leakage mitigation policies,"
Journal of Environmental Economics and Management, Elsevier, vol. 125(C).
- Ambec, Stefan & Esposito, Federico & Pacelli, Antonia, 2023. "The economics of carbon leakage mitigation policies," TSE Working Papers 23-1408, Toulouse School of Economics (TSE), revised Sep 2023.
- Stefan Ambec & Federico Esposito & Antonia Pacelli, 2024. "The economics of carbon leakage mitigation policies," Post-Print hal-04550380, HAL.
- Benjamin Jones & Michael Keen & Jon Strand, 2013.
"Fiscal implications of climate change,"
International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 20(1), pages 29-70, February.
- Jones, Benjamin & Keen, Michael & Strand, Jon, 2012. "Fiscal implications of climate change," Policy Research Working Paper Series 5956, The World Bank.
- Christoph Böhringer & Knut Einar Rosendahl & Halvor Storrøsten, 2021.
"Smart hedging against carbon leakage [An overview of the GTAP 9 data base],"
Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 36(107), pages 439-484.
- Halvor Briseid Storrøsten & Christoph Böhringer & Knut Einar Rosendahl, 2015. "Smart hedging against carbon leakage," Discussion Papers 822, Statistics Norway, Research Department.
- Christoph Böhringer & Knut Einar Rosendahl & Halvor Briseid Storrøsten, 2019. "Smart Hedging Against Carbon Leakage," CESifo Working Paper Series 7915, CESifo.
- Böhringer, Christoph & Rosendahl, Knut Einar & Briseid Storrøsten, Halvor, 2015. "Smart hedging against carbon leakage," Working Paper Series 14-2015, Norwegian University of Life Sciences, School of Economics and Business.
- Christoph Böhringer & Knut Einar Rosendahl & Halvor Briseid Storrøsten, 2019. "Smart hedging against carbon leakage," Discussion Papers 920, Statistics Norway, Research Department.
- Christoph Boehringer & Knut Einar Rosendahl & Halvor Briseid Storroesten, 2019. "Smart hedging against carbon leakage," Working Papers V-427-19, University of Oldenburg, Department of Economics, revised Oct 2019.
- Böhringer, Christoph & Rosendahl, Knut Einar & Briseid Storrøsten, Halvor, 2019. "Smart hedging against carbon leakage," Working Paper Series 4-2019, Norwegian University of Life Sciences, School of Economics and Business.
- Aalbers, Rob & Shestalova, Victoria & Kocsis, Viktória, 2013. "Innovation policy for directing technical change in the power sector," Energy Policy, Elsevier, vol. 63(C), pages 1240-1250.
More about this item
Keywords
climate change; global externalities; sustainable finance; small open economy; political economy;All these keywords.
JEL classification:
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods
- Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
NEP fields
This paper has been announced in the following NEP Reports:- NEP-ENE-2022-05-02 (Energy Economics)
- NEP-ENV-2022-05-02 (Environmental Economics)
- NEP-OPM-2022-05-02 (Open Economy Macroeconomics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ces:ceswps:_9537. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Klaus Wohlrabe (email available below). General contact details of provider: https://edirc.repec.org/data/cesifde.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.