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An Internalisation‐based World Environmental Organisation

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  • John Whalley
  • Ben Zissimos

Abstract

We evaluate the possibilities for a new World Environmental Organisation (WEO), with our discussion motivated both by recent calls for such an organisation in light of WTO trade and environment conflicts and the relative absence of internalisation of global externalities. We propose an organisation building upon the idea of facilitating Coasian deal on the global environment. We motivate the establishment of such an organisation by itemising the ways in which global environmental deals are presently restrained by various impediments, including free riding, property right ambiguities, and mechanisms for authentification and verification. We indicate how such a WEO might help in each of these areas, stressing the differences from the WTO which is a much narrower bargaining framework.

Suggested Citation

  • John Whalley & Ben Zissimos, 2002. "An Internalisation‐based World Environmental Organisation," The World Economy, Wiley Blackwell, vol. 25(5), pages 619-642, May.
    • Handle: RePEc:bla:worlde:v:25:y:2002:i:5:p:619-642
    DOI: 10.1111/1467-9701.00453
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    Cited by:

    1. Mathews, John, 2007. "Seven steps to curb global warming," Energy Policy, Elsevier, vol. 35(8), pages 4247-4259, August.
    2. Pichler, Paul & Sorger, Gerhard, 2018. "Delegating climate policy to a supranational authority: a theoretical assessment," European Economic Review, Elsevier, vol. 101(C), pages 418-440.
    3. Xiao Chen & Alan Woodland, 2013. "International trade and climate change," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 20(3), pages 381-413, June.

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