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Article dans une revue International Journal of Economic Theory Année : 2023

Pollution in a globalized world: Are debt transfers among countries a solution?

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.
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Dates et versions

halshs-04331398, version 1 (14-12-2023)
halshs-04331398, version 2 (21-12-2023)

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Marion Davin, Mouez Fodha, Thomas Seegmuller. Pollution in a globalized world: Are debt transfers among countries a solution?. International Journal of Economic Theory, 2023, 19 (1), pp.21-38. ⟨10.1111/ijet.12333⟩. ⟨halshs-04331398v2⟩
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