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The impact of Treaty nonparticipation on the Costs of Slowing Global Warming

William Nordhaus

Year: 2009
Volume: Volume 30
Number: Special Issue #2
DOI: 10.5547/ISSN0195-6574-EJ-Vol30-NoSI2-3
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Abstract:
The Impact of Treaty nonparticipation on the Costs of Slowing Global Warming William Nordhaus* One of the important features of public bads like global warming is that countries face widely disparate incentives to participate in measures to mitigate the impacts.1 In the specific case of global warming, these differences in in�centives reflect differences in income, political structure, environmental attitudes, country size, geography, and perceptions of the eventual damage. For example, Russia may believe that it will benefit from at least limited warming, while India may believe it will suffer significant harm.2 The structures of the Framework Convention on Climate Change and the Kyoto Protocol assign very different responsibilities to high-income and low-income countries. Indeed, the Framework Convention requires only high-income countries to participate, while the Kyoto Protocol excludes major developing countries in principle and the United States in practice.3 A realistic analysis of policy toward global warming, or of any policy that involves coordination among multiple nations, must allow for differing national or sectoral rates of participation in international agreements. It is critical that analysts and policymakers understand the potential costs of allowing incom�plete participation. Are these costs large or small? This is the question to which the present study is addressed.





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