Market and State as Allocators of Limited Resources of the Environment Cover Image

Tržište i država kao alokatori ograničenih resursa životne okoline
Market and State as Allocators of Limited Resources of the Environment

Author(s): Kasim Tatić
Subject(s): Economy
Published by: Univerzitet u Sarajevu
Keywords: Market failures -Externalities; state failures; environmental policy measures; economic efficiency

Summary/Abstract: Our interest relates to economicaly efficient way of resolving wide range of environmental problems or problems of allocation of scarce environmental resources. After a short elaboration of the basic reasons leading to such unsatisfactory state of the environment and a definition of the term allocation of the scarce resources, the survey of most frequently used measures and instruments in environmental policy, as well as criteria for their assessment in the process of practical application have been given . The largest part of the work has been devoted to the analysis of the state and the market as institutional arangements for allocation of scarce environmental resources. The advantages and disadvantages of both arrangements have been analyzed and it has been stressed that practical realization of environmental policy and natural resources management requires an optimal combination and simultaneous usage of both mechanisms, not the exclusive choice of one or another.

  • Issue Year: XLVI/2005
  • Issue No: 1-2
  • Page Range: 139-158
  • Page Count: 20
  • Language: Bosnian