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Barriers To The Benefits, Efficient And Effective Regulation Of Environmental Financial Assurance Policy In Developing Countries: Case Study Of Ghana

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  • ERIC TWUM

    (Department of Politics, University of Exeter, Amory Building, Rennes Drive, EX4 4RJ, Devon, Exeter, UK)

Abstract

This paper examines the barriers to the benefits, efficient and effective implementation of Environmental Financial Assurance (EFA) policy in developing countries with Ghana as case study. EFA is an international environmental regulatory policy and its implementation by a nation is thus perceived as integration into the international regulatory framework. It is an essential developmental regulatory policy that protects the public against the cost of mine clean up and loss of livelihoods, should a company refuse to complete its reclamation plan. However, evidence drawn from this study indicates that there are barriers and differences in approach to the efficient implementation of the policy in some developing countries as the zeal with which EFA policy was adopted as part of a policy reform to attract foreign investment to the mining sector has not been matched with the desired political will, expertise and economic growth to ensure the implementation of the policy.

Suggested Citation

  • Eric Twum, 2013. "Barriers To The Benefits, Efficient And Effective Regulation Of Environmental Financial Assurance Policy In Developing Countries: Case Study Of Ghana," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 15(03), pages 1-23.
    • Handle: RePEc:wsi:jeapmx:v:15:y:2013:i:03:n:s1464333213500117
    DOI: 10.1142/S1464333213500117
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    References listed on IDEAS

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    2. Ogus, Anthony, 2005. "Towards Appropriate Institutional Arrangements for Regulation in Less Developed Countries," Centre on Regulation and Competition (CRC) Working papers 30644, University of Manchester, Institute for Development Policy and Management (IDPM).
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