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2023
- handle: 10670/1.lbx1yn
- halshs: halshs-04331398
- doi: 10.1111/ijet.12333
- WOS: 000744092800001
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info:eu-repo/semantics/altIdentifier/doi/10.1111/ijet.12333
info:eu-repo/semantics/OpenAccess
Mots-clés
Capital market integration Global pollution Overlappinggenerations Public debt Overlapping generations F - International Economics/F.F4 - Macroeconomic Aspects of International Trade and Finance/F.F4.F43 - Economic Growth of Open Economies H - Public Economics/H.H2 - Taxation, Subsidies, and Revenue/H.H2.H23 - Externalities • Redistributive Effects • Environmental Taxes and Subsidies Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q5 - Environmental Economics/Q.Q5.Q56 - Environment and Development • Environment and Trade • Sustainability • Environmental Accounts and Accounting • Environmental Equity • Population GrowthSujets proches
Quality of environment Mobility Internal migrationCiter ce document
Marion Davin et al., « Pollution in a globalized world: Are debt transfers among countries a solution? », HAL-SHS : économie et finance, ID : 10.1111/ijet.12333
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Résumé
We analyze the effects of a debt relief, that is, a decrease in public debt of a low-income country financed by a high-income country, on environmental quality. Under perfect mobility of assets, the debt relief increases the overall capital stock, and environmental quality when public abatements are sufficiently efficient. Welfare in both countries can also improve. Under a weak mobility of assets, capital does no more increase in the richest country, but environmental quality can improve. This comes from a crowding-out effect of debt in the high-income country, which does no more take place when the mobility of assets is significant.