Publication

This paper explores how action could be undertaken in India in a way that commits the country to long-run goals for greenhouse emissions but does not raise the short-run cost for the development process. The approach proposed is a modification of the McKibbin-Wilcoxen Blueprint for climate policy which relies on establishing property rights and markets in both short- and long-term emission permits. The author argues that if successful, it would not only reduce Indian carbon emissions but it would be an example for the entire developing world to follow.