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Acceptance of the international compensation regime for tanker oil pollution – And its implications for China

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  • Dong, Bingying
  • Zhu, Ling
  • Li, Kevin
  • Luo, Meifeng

Abstract

The international compensation regime for tanker oil pollution has been successful in providing adequate and prompt compensation to pollution victims in its member states. Nevertheless, the attitudes of different countries toward acceptance of this regime have varied considerably. This paper aims to explain three main factors in the acceptance of the regime, including: (1) The level of economic development; (2) the risk of exposure to tanker oil spills; and (3) the financial burden associated with adherence to the International Oil Pollution Compensation Fund (IOPC). Using both fuzzy-set Qualitative Comparative Analysis and an Ordered Probit model, this study found two patterns causing upper-middle and high income countries to have a high acceptance level: (a) Those facing a medium risk of oil spills and having a low financial burden; and (b) those facing a high risk of oil spills. The study reveals that, for a country with a high risk of exposure to tanker oil spills, such as China, with its improvement in economic status it is far better for it to join the IOPC Fund, so as to provide better protection both for potential pollution victims and for the marine environment. The results of this study can also be applied to other countries that are considering whether or not to accept the international compensation regime for tanker oil pollution.

Suggested Citation

  • Dong, Bingying & Zhu, Ling & Li, Kevin & Luo, Meifeng, 2015. "Acceptance of the international compensation regime for tanker oil pollution – And its implications for China," Marine Policy, Elsevier, vol. 61(C), pages 179-186.
    • Handle: RePEc:eee:marpol:v:61:y:2015:i:c:p:179-186
    DOI: 10.1016/j.marpol.2015.08.001
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    References listed on IDEAS

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    1. André Schmitt & Sandrine Spaeter, 2004. "Insurance and Financial Hedging of Oil Pollution Risks," Working Papers of LaRGE Research Center 2004-05, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    2. Liu, Dan & Zhu, Ling, 2014. "Assessing China׳s legislation on compensation for marine ecological damage: A case study of the Bohai oil spill," Marine Policy, Elsevier, vol. 50(PA), pages 18-26.
    3. André SCHMITT & Sandrine SPAETER, 2004. "Insurance and Financial Hedging of Oil Pollution Risks," Working Papers of BETA 2004-14, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    4. André SCHMITT & Sandrine SPAETER, 2005. "Hedging Strategies and the Financing of the 1992 International Oil Pollution Compensation Fund," Working Papers of BETA 2005-12, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    5. Michael E. Porter & Claas van der Linde, 1995. "Toward a New Conception of the Environment-Competitiveness Relationship," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 97-118, Fall.
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    Cited by:

    1. Zhou, Li & Lei, Lei, 2017. "Can money always talk? : implication for environmental compensation by international agribusiness," IDE Discussion Papers 641, Institute of Developing Economies, Japan External Trade Organization(JETRO).

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