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Will the Kyoto Protocol affect growth in Russia?
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Abstract
In light of the recent argument that rapid economic growth in Russia over the next decade, might result in emissions higher than the Kyoto target, thereby putting much-needed growth at risk, the authors revisit the discussion on the costs and benefits of ratification of the Kyoto Protocol by Russia. They conclude that even under a very high economic growth assumption, and even under very conservative assumptions about the decoupling between carbon dioxide emissions, and economic growth, Russia still benefits from a net surplus of emissions allowances, and thus will not see its growth adversely affected by the Kyoto target. In addition, a review of the possible costs, and benefits of the Kyoto Protocol suggests that the potential sale of excess allowances, far outweighs the other costs.Environmental Economics&Policies,Economic Theory&Research,Global Environment Facility,Climate Change,Montreal Protocol,Climate Change,Energy and Environment,Environmental Economics&Policies,Montreal Protocol,Carbon Policy and Trading