Battling Global Crises Locally
The Times of India Mumbai|September 13, 2022
Covid and climate change have both shown that the key is national mitigation efforts
- Arvind Panagariya
Battling Global Crises Locally

Experiences with the provision of two global public goods – defence against climate change and Covid – graphically illustrate the difficulty of collective action at the international level. They also offer useful insights into complementary policy actions required at the national level to compensate for the failure of optimal action at the international level.

The global public-good nature of defence against climate change manifests itself in the spillover of benefits of defensive actions by one country to all others: When a country cuts its carbon emissions, benefits of it in terms of reduced prospects of global warming become automatically available to all other countries.

The cost of such action falls exclusively on the country undertaking the reduction, however. Therefore, left to itself, each country has the incentive to leave the task of emission reduction to others. The result is less than optimal reduction in emissions.

この蚘事は The Times of India Mumbai の September 13, 2022 版に掲茉されおいたす。

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この蚘事は The Times of India Mumbai の September 13, 2022 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

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