Think Globally, Act Globally: Opportunities to Mitigate Greenhouse Gas Emissions in Low- and Middle-Income Countries
Journal of Economic Perspectives
vol. 37,
no. 3, Summer 2023
(pp. 111-36)
(Complimentary)
Abstract
Reductions in greenhouse gas emissions are a global public good, which makes it efficient to act globally when addressing this challenge. We lay out several reasons that high-income countries seeking to mitigate climate change might have greater impact if they invest their resources in opportunities in low- and middle-income countries. Specifically, some of the easiest and cheapest options have already been tapped in high-income countries, land and labor costs are lower in low- and middle-income countries, it is cheaper to build green than to retrofit green, and global targeting matters in integrated economies. We also discuss economic counterarguments such as the challenge of monitoring emissions levels in low- and middle-income countries, ethical considerations, the importance of not double-counting mitigation funding as development aid, and policy steps that might help realize this opportunity.Citation
Glennerster, Rachel, and Seema Jayachandran. 2023. "Think Globally, Act Globally: Opportunities to Mitigate Greenhouse Gas Emissions in Low- and Middle-Income Countries." Journal of Economic Perspectives, 37 (3): 111-36. DOI: 10.1257/jep.37.3.111Additional Materials
JEL Classification
- H87 International Fiscal Issues; International Public Goods
- O13 Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
- Q51 Valuation of Environmental Effects
- Q54 Climate; Natural Disasters and Their Management; Global Warming
- Q58 Environmental Economics: Government Policy
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