An internalisation-based world environmental organisation

John Whalley, Benjamin Zissimos

Research output: Contribution to journalArticle

9 Citations (Scopus)

Abstract

We evaluate the possibilities for a new World Environmental Organisation (WEO), with our discussion motivated both by recent calls for such an organisation in light of WTO trade and environment conflicts and the relative absence of internalisation of global externalities. We propose an organisation building upon the idea of facilitating Coasian deal on the global environment. We motivate the establishment of such an organisation by itemising the ways in which global environmental deals are presently restrained by various impediments, including free riding, property right ambiguities, and mechanisms for authentication and verification. We indicate how such a WEO might help in each of these areas, stressing the differences from the WTO which is a much narrower bargaining framework.
Original languageEnglish
Pages (from-to)619-642
Number of pages24
JournalWorld Economy
Volume25
Issue number5
Publication statusPublished - 2002

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    Whalley, J., & Zissimos, B. (2002). An internalisation-based world environmental organisation. World Economy, 25(5), 619-642.