Please use this identifier to cite or link to this item: https://hdl.handle.net/1959.11/26475
Title: Economic implications for Australia and other major emitters of trading greenhouse gas emissions internationally
Contributor(s): Siriwardana, Mahinda  (author); Nong, Duy (author)
Publication Date: 2018-09-24
DOI: 10.1504/IJGW.2018.095384
Handle Link: https://hdl.handle.net/1959.11/26475
Abstract: We employ the GTAP-E model to analyse the short run effects of two emissions trading scheme (ETS) scenarios at global level subject to 2020 emissions targets. In Scenario 1, an ETS is formulated among Annex 1 countries only, while the ETS is expanded by adding China, India and South Korea in Scenario 2. The study shows that the cost of meeting emissions reduction commitments of Australia and other countries can be reduced by engaging in block-level emissions trading. In particular, a permit price of US$10.56 emerges with the ETS among Annex 1 countries. This price is reduced to US$6.32 when China, India and South Korea also joined the global ETS. Results show that the ETS has a modest overall economic impact on the Australian economy and globally. Results also confirm that selling permits to the world is not welfare enhancing; rather countries who buy permits improve their welfare.
Publication Type: Journal Article
Grant Details: ARC/LP120200192
Source of Publication: International Journal of Global Warming, 16(3), p. 261-280
Publisher: Inderscience Publishers
Place of Publication: United Kingdom
ISSN: 1758-2091
1758-2083
Fields of Research (FoR) 2008: 140205 Environment and Resource Economics
Fields of Research (FoR) 2020: 380105 Environment and resource economics
Socio-Economic Objective (SEO) 2008: 919901 Carbon and Emissions Trading
Socio-Economic Objective (SEO) 2020: 159901 Carbon and emissions trading
Peer Reviewed: Yes
HERDC Category Description: C1 Refereed Article in a Scholarly Journal
Appears in Collections:Journal Article
UNE Business School

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