ЕКОНОМСКА АНАЛИЗА ЕКОЛОШКОГ ПРАВА И ПОЛИТИКЕ
ECONOMIC ANALYSIS OF ENVIRONMENTAL LAW AND POLICY

Summary/Abstract: The subjects of analysis in this study are different economic approaches to the problem of environmental external effects (externalities). Since the state environmental policy (the regulation, the incentives policy and the tort rules) and the so-called market based solutions of externalities is being implemented in practice, the question is wich method in resolving the inherent problems is the most efficient one. The purpose of this study is to highlight the positive and negative characteristics of each method separately. Likewise, this study aims at indicating importance of the market based solution of externalities, as the most efficient solution, taking into consideration the transaction costs as the criterion of the efficiency. In the first part of the study the state environmental policy − the regulation, the incentives policy and the so-called system of pollution rights are presented. The second part deals with the market based solutions of externalities in light of the Coasean theorem. Respecting the importance and contribution of the Coasean theorem, author tries to emphasize the efficiency of market (contract) and judicial allocation of property rights, related to the state regulation.

• Details
• Contents