The Economic and Environmental Implications of the U.S.
Repudiation of the Kyoto Protocol and the Subsequent
Deals in Bonn and Marrakech

Zhongxiang Zhang
East-West Center

Friday, May 3, 2002
3:00 PM – 4:15 PM
Saunders 515

Abstract
The U.S. decision not to ratify the Kyoto Protocol in March 2001 and the subsequent deals struck in Bonn (July 2001) and Marrakech (November 2001) have significant implications for both the environmental effectiveness of the Protocol and the compliance costs of the remaining industrialized countries, such as Japan and the European Union. This paper is the first comprehensive study to examine these implications taking into account the non-competitive supply behavior on the international market of tradable permits.

(This paper is available at Social Science Research Network)