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Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
Oldenburg Discussion Papers in Economics No. V-371-14
Verlag: 
University of Oldenburg, Department of Economics, Oldenburg
Zusammenfassung: 
A central question in climate policy is whether early investments in low-carbon technologies are a useful first step towards a more effective climate agreement in the future. We introduce a climate cooperation model with endogenous R&D investments where countries protect their international competitiveness via border carbon adjustments (BCA). BCA raises the scope for cooperation and leads to a non-trivial relation between countries' prior R&D investments and participation in the coalition. We find that early investments in R&D render free-riding more attractive. Therefore, with delayed cooperation on emission abatement and ex-ante R&D investments, the outcome is often characterized by high participation but inefficiently low technology investments and abatement.
Schlagwörter: 
climate treaty
border carbon adjustment
border tax adjustment
coalitions
R&D
JEL: 
D62
F53
H23
Q55
Dokumentart: 
Working Paper

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