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- W1965619726 abstract "Abstract This paper describes the remarkable parallels between the problems faced in the drafting of the 1944 Bretton Woods Agreement, which established the rules and institutions governing the international financial system, and the problems faced in drafting a greenhouse gas agreement. The parallels include the need to induce countries to sacrifice economic sovereignty in order to provide a public good, the need to facilitate capital investment and provide adjustment loans, to be fair to developing versus developed nations, to offer technical assistance, monitor behavior, punish offenders, and promote a globally efficient allocation of resources. It is claimed that between them, the organizations which emerged from the Bretton Woods Agreement, namely the IMF, GATT, and World Bank, have the necessary attributes of the needed global atmospheric control agency. Furthermore, it is argued that there are striking parallels between the reserve accounts at the IMF and the crediting and debiting of greenhouse gas emissions and absorptions, between Special Drawing Rights (SDRs) and rights for greenhouse gas emissions, as well as in numerous other characteristics. The paper concludes by noting that the almost half-century of influence of the Bretton Woods institutions suggests we might borrow from their charters, organizational designs, membership incentives, and procedures for adaptation and change." @default.
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- W1965619726 date "1991-12-01" @default.
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- W1965619726 title "Bretton Woods: Blueprint for a greenhouse gas agreement" @default.
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- W1965619726 doi "https://doi.org/10.1016/0921-8009(91)90054-i" @default.
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