Dictionary of Environmental Economics

208 Pages·2003·2 MB·English

by  Tim Taylor

Dictionary of
Environmental
Economics
Dictionary of
Environmental
Economics
Anil Markandya,
Renat Perelet,
Pamela Mason
and Tim Taylor
Earthscan Publications Ltd
London and Sterling, VA
First published in the UK and USA in 2001
by Earthscan Publications Ltd
Reprinted 2002
Copyright © Anil Markandya and Renat Perelet, 2001
All rights reserved
ISBN: 1 85383 529 3
Typesetting by Composition & Design Services (www.cdsca.com)
Printed and bound in the UK by Creative Print and Design Wales, Ebbw Vale
Cover design by Richard Reid
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Earthscan is an editorially independent subsidiary of Kogan Page Ltd and
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Environment and Development
A catalogue record for this book is available from the British Library
Library of Congress Cataloging-in-Publication Data
Dictionary of environmental economics / Anil Markandya … [et al.].
p. cm.
Includes bibliographical references.
ISBN 1-85383-529-3 (hardcover)
1. Environmental economics – Dictionaries. I. Markandya, Anil, 1945-
HC79.E5 D53 2001
333.7’03–dc21 00-067275
This book is printed on elemental chlorine-free paper
Contents
List of Figures and Tables vi
List of Acronyms and Abbreviations vii
Preface by Anil Markandya xi
Acknowledgements xii
The Dictionary 1
References 189
List of Figures and
Tables
Figures
1 Asymptotic Depletion 14
2 Budget Constraint 28
3 The Circular Economy 35
4 The Cobweb Model 41
5 The Efficient Level of Pollution 75
6 The Causes of Environmental Shirking 86
7 Costs and Benefits of Environmental Taxation 88
8 The Impact Pathway Approach 113
9 An Environmental Kuznets Curve 122
10 Market-Based Instruments 129
11 Maximum Sustainable Yield 131
12 The Potential for No-Regrets Options 139
13 Edgeworth Box Showing Pareto Efficiency 147
Tables
1 The FUND Model 39
2 Economic Instruments 72
3 A Non-Cooperation Pay-Off Matrix 141
4 The Prisoners’ Dilemma 153
List of Acronyms and
Abbreviations
AIJ activities implemented jointly
AONB areas of outstanding natural beauty
APE assimilative potential of the environment
APS ambient permit system
BACT best available control technology
BAT best available techniques or technology
BATNEEC best available techniques not entailing excessive cost
BAU business as usual
BCA benefit–cost analysis
BEP best environmental practice
BOD biological oxygen demand
BPEO best practicable environmental option
BPM best practicable means
CAA Clean Air Act
CAC command and control regulations
CAP Common Agricultural Policy
CAS country assistance strategy (World Bank)
CATNIP cheapest available technology not involving prosecution
CBA cost–benefit analysis
CD Cobb Douglas
CDM clean development mechanism
CEA cost-effectiveness analysis
CEE Central and Eastern Europe
CFC chlorofluorocarbon
CGE computable general equilibrium
CH methane
4
CHP combined heat and power
cif cost, insurance and freight, or charged in full
CITES Convention on International Trade in Endangered Species
of Wild Fauna and Flora
CO carbon monoxide
CO carbon dioxide
2
COD chemical oxygen demand
COI cost of illness
CSD Commission on Sustainable Development (United Nations)
CUA cost–utility analysis
CVD countervailing duties
CVM contingent valuation method
DALY disability-adjusted life year
dB decibels
dB(A) decibels A scale
List of Acronyms and Abbreviations
DDT dichlorodiphenyltrichloroethane
DNS debt-for-nature swap
DO dissolved oxygen
dr discount rate
DSM demand side management
EA environmental assessment
EAP environmental action programme
EIA environmental impact assessment
EIS environmental impact statement
EKC environmental Kuznets curve
EPA Environmental Protection Act (UK)
EPA Environmental Protection Agency (US)
EPS emission permit system
ERICAM environmental risk internalization through capital
markets
ES environmental statement
ETS effective temperature sum
EU European Union
EU expected utility
EuZW Europäische Zeitschrift für Wirtschaftsrecht
EV expected value
FDA Food and Drug Administration (US)
FCCC Framework Convention on Climate Change
FAO Food and Agriculture Organization
GATT General Agreement on Tariffs and Trade
GCM general circulation models
GDI gender-related development index
GDP gross domestic product
GEF Global Environment Facility
GHG greenhouse gas
GMO genetically modified organism
GNP gross national product
GWP global warming potential
HDI human development index
HPI human poverty index
HSI health status index
IEA International Energy Agency
IEA international environmental agreement
IEP intergenerational equity principle
I–O input–output
IPC integrated pollution control
IPM integrated pest management
IPCC Intergovernmental Panel on Climate Change
IPPC integrated pollution prevention and control
IPR intellectual property rights
ISEW index of sustainable economic welfare
IUCN World Conservation Union (formerly the International
Union for Conservation of Nature and Natural
Resources)
JI joint implementation
viii
List of Acronyms and Abbreviations
KP Kyoto Protocol
L energy mean sound level (a steady-state continuous sound
eq
level with the same energy content as the actual, time-
variant, noise level)
MAC maximum allowable concentration
MARPOL International Convention for the Prevention of Pollution
from Ships
MB marginal benefit
MBI market-based instrument
MC marginal cost
MDC marginal damage cost
MEA multilateral environmental agreement
MEW measure of economic welfare
MNPB marginal net private benefit
MSY maximum sustainable yield
NO nitrous oxide
2
NDP net domestic product
NGO non-governmental organization
NH ammonia
3
NNP net national product
NOAA US National Oceanic and Atmospheric Administration
NO nitrogen oxides
x
NPV net present value
NSPS new source performance standard
O ozone
3
ODA official development assistance
ODS ozone-depleting substance
OECD Organisation for Economic Co-operation and Development
O&M operations and maintenance
OP option price
OVA objective valuation approach
PEA Pareto-efficient allocation
PP precautionary principle
PPP polluter pays principle or purchasing power parity
PRA participatory rural appraisal
PSR pressure, state, response indicators
QALY quality-adjusted life year
RA risk assessment
RACT reasonably available control technology
RANDP resource-adjusted net domestic product
RM risk management
SARD sustainable agriculture and rural development
SD sustainable development
SIP sickness impact profile
SMS safe minimum standards
SNA system of national accounts
SO sulphur dioxide
2
SP stated preference
TAC total allowable catch
TCM travel cost method
ix
List of Acronyms and Abbreviations
TRIPS trade-related intellectual property rights
TSP total suspended particulates
TSS total suspended solids
UDP undifferentiated discharge permit
UN United Nations
UNCED United Nations Conference on Environment and
Development
UNCLOS United Nations Convention on the Law of the Sea
UNDP United Nations Development Programme
UNEP United Nations Environment Programme
UNESCO United Nations Economic, Social and Cultural
Organization
UPP user pays principle
VLYL value of a life year lost
VOCs volatile organic compounds
VOLY value of life year
VOSL value of a statistical life
VPF value of a prevented fatality (formerly VOSL)
VPP victim pays principle
WBCSD World Business Council for Sustainable Development
WCED World Commission on Environment and Development
WCS World Conservation Strategy
WRI World Resources Institute
WTA willingness to accept
WTO World Trade Organization
WTP willingness to pay
WTTERC World Tourism and Travel Environment Research Centre
XV existence value
YLYL years of life years lost
ZTCM zonal travel cost method
x