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Environmental Sustainability - Internalization Of Environmental Externalities

Author

Listed:
  • Gabriela PICIU

    (”Victor Slavescu” Financial and Monetary Research Center, Romanian Academy, Romania)

Abstract

Economic assessment of environmental damage and estimate the negative externalities are of particular importance aimed assigning monetary values to use. In economic terms, using produce cost environment where there is conflict between uses, and / or quality of a good is affected beyond measure considered tolerable. This means that the environmental good in question is a rare good economic sense. However, in addition to the direct costs of use, there are also indirect costs - negative environmental externalities that are highlighted in particular the phenomenon of pollution, when appearing as economic damages are not compensated financially. Monetization externalities should be performed when there are external benefits or costs, and they are not included in the financial analysis, or can be highlighted by using conversion factors.

Suggested Citation

  • Gabriela PICIU, 2017. "Environmental Sustainability - Internalization Of Environmental Externalities," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 2(4), pages 28-33.
    • Handle: RePEc:brc:brccej:v:2:y:2017:i:4:p:28-33
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    References listed on IDEAS

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    1. Antonelli, Cristiano, 2008. "Pecuniary Externalities: the Convergence of Directed Technological Change and the Emergence of Innovation Systems," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200807, University of Turin.
    2. Randall G. Holcombe & Russell S. Sobel, 2001. "Public Policy Toward Pecuniary Externalities," Public Finance Review, , vol. 29(4), pages 304-325, July.
    3. Cristiano Antonelli, 2008. "Pecuniary knowledge externalities: the convergence of directed technological change and the emergence of innovation systems," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 17(5), pages 1049-1070, October.
    4. Bergman, Lars, 2005. "CGE Modeling of Environmental Policy and Resource Management," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 3, chapter 24, pages 1273-1306, Elsevier.
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    Cited by:

    1. CHITIGA, Georgiana, 2020. "Objectives Of The Material Resources Efficiency Policy At Countries Level," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 8(1), pages 168-174, October.

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    More about this item

    Keywords

    industrial ecology; internalization; environmental externalities; environmental equity; reducing emission; damages;
    All these keywords.

    JEL classification:

    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q57 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Ecological Economics

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