TY - JOUR
T1 - On Environmental Impacts of Market-based Reforms
T2 - Evidence from the European and Central Asian Transition Economies
AU - Nepal, Rabindra
AU - Jamasb, Tooraj
AU - Tisdell, Clement Allan
PY - 2017
Y1 - 2017
N2 - Global warming and other adverse climate change impacts induced by anthropogenic carbon dioxide emissions are a major public policy concern around the world including transitional economies. This paper, therefore, examines the impacts of market-based economic reforms on per capita CO2 emissions in the European and Central Asian transition economies where environmental degradation was pervasive prior to these reforms. A dynamic panel data model is employed for this purpose for 28 countries covering 22 years from 1990 to 2012. Our overall results suggest that economic openness may not necessarily result in sustainable development although reforms in competition policy and corporate governance were the significant drivers of emissions reductions in the region. Hence, advances in competition policy and governance reforms are desirable given the available scope to extend these reforms. The structural shift to and emergence of light industries also contributed to declining CO2 emissions in the transition process. The direct impact of the Kyoto Protocol in reducing emissions is debatable which also raises doubts on the effectiveness of the Paris agreements.
AB - Global warming and other adverse climate change impacts induced by anthropogenic carbon dioxide emissions are a major public policy concern around the world including transitional economies. This paper, therefore, examines the impacts of market-based economic reforms on per capita CO2 emissions in the European and Central Asian transition economies where environmental degradation was pervasive prior to these reforms. A dynamic panel data model is employed for this purpose for 28 countries covering 22 years from 1990 to 2012. Our overall results suggest that economic openness may not necessarily result in sustainable development although reforms in competition policy and corporate governance were the significant drivers of emissions reductions in the region. Hence, advances in competition policy and governance reforms are desirable given the available scope to extend these reforms. The structural shift to and emergence of light industries also contributed to declining CO2 emissions in the transition process. The direct impact of the Kyoto Protocol in reducing emissions is debatable which also raises doubts on the effectiveness of the Paris agreements.
KW - CO2 emissions
KW - Economic reforms
KW - Environmental policy
KW - Climate change
KW - CO2 emissions
KW - Economic reforms
KW - Environmental policy
KW - Climate change
UR - https://sfx-45cbs.hosted.exlibrisgroup.com/45cbs?url_ver=Z39.88-2004&url_ctx_fmt=info:ofi/fmt:kev:mtx:ctx&ctx_enc=info:ofi/enc:UTF-8&ctx_ver=Z39.88-2004&rfr_id=info:sid/sfxit.com:azlist&sfx.ignore_date_threshold=1&rft.object_id=954926248597&rft.object_portfolio_id=&svc.holdings=yes&svc.fulltext=yes
U2 - 10.1016/j.rser.2017.01.078
DO - 10.1016/j.rser.2017.01.078
M3 - Review
AN - SCOPUS:85010445347
VL - 73
SP - 44
EP - 52
JO - Renewable & Sustainable Energy Reviews
JF - Renewable & Sustainable Energy Reviews
SN - 1364-0321
IS - June
ER -