Transaction Costs of Low-Carbon Technologies and Policies : The Diverging Literature

Transaction costs are major challenge to moving forward toward low-carbon economic growth, as new technologies or policies tend to have higher transaction costs compared with those in the business as usual situation. However, neither a well-develop...

Full description

Bibliographic Details
Main Authors:	Mundaca, Luis, Mansoz, Mathilde, Neij, Lena, Timilsina, Govinda R.
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ABATEMENT ACCOUNTING ADMINISTRATIVE COSTS ADMINISTRATIVE PROCEDURES AGRICULTURAL COMMODITIES AGRICULTURE ALLOWANCE TRADING APPROACH AUDITS AVAILABILITY OF CREDIT BALANCE BASELINE EMISSIONS BENCHMARKS BIOGAS BIOLOGICAL DIVERSITY BIOMASS BOILER BOUNDED RATIONALITY BROKER BROKERAGE BROKERAGE FIRMS BROKERS BUSINESS ACTIVITIES BUYER BUYERS CAPACITY FACTOR CARBON CARBON ABATEMENT CARBON EMISSIONS CARBON MARKET CARBON REDUCTIONS CERTIFICATE CERTIFICATES CERTIFIED EMISSION REDUCTION CHECKS CLEAN DEVELOPMENT MECHANISM CLEAN ENERGY CLEAN ENERGY TECHNOLOGIES COLLECTIVE ACTION COMMERCIAL BANKS COMMODITIES COMPACT FLUORESCENT LAMPS COMPETITIVE MARKET COMPLIANCE COSTS CONCEPTUAL FRAMEWORK CONSUMERS CONTRACT ENFORCEMENT CONTRACTUAL AGREEMENT COST ANALYSES COST OF ENERGY CUSTOMER SATISFACTION DATA PROCESSING DECISION MAKING DEFORESTATION DEVELOPED COUNTRIES DEVELOPMENT ECONOMICS DEVELOPMENT POLICY DOMAIN ECONOMIC ACTIVITY ECONOMIC ASSETS ECONOMIC GROWTH ECONOMIC INSTRUMENTS ECONOMIC LIFE EFFICIENCY IMPROVEMENTS EFFICIENCY INVESTMENTS ELECTRICITY ELECTRICITY GENERATION ELECTRICITY PRICE ELECTRICITY PRODUCERS EMISSION EMISSION REDUCTION EMISSION REDUCTIONS EMISSIONS EMISSIONS REDUCTION EMISSIONS REDUCTIONS EMPIRICAL STUDIES END USERS END-USERS ENERGY AUDIT ENERGY CONSERVATION ENERGY DEMAND ENERGY EFFICIENCY ENERGY EFFICIENCY IMPROVEMENTS ENERGY EXPENDITURE ENERGY PRICES ENERGY SAVINGS ENFORCEMENT OF CONTRACTS ENVIRONMENTAL ENVIRONMENTAL ECONOMICS EQUILIBRIUM EQUIPMENT EQUIPMENTS EXCLUSIVE RIGHTS EXPENDITURES FINANCIAL BENEFITS FINANCIAL RESOURCES FINANCIAL SUPPORT FINANCIAL SUSTAINABILITY FIXED COSTS FORECASTS FORESTRY FUEL GOVERNMENT POLICY GREENHOUSE GAS GREENHOUSE GASES HEAT HEATING SYSTEM HOST COUNTRY HYDROPOWER INSTALLATION INSTALLATIONS INSTITUTIONAL BARRIERS INSTITUTIONAL CAPACITY INSTITUTIONAL FRAMEWORK INSTITUTIONAL FRAMEWORKS INSTRUMENT INSURANCE INTEREST RATES INTERNATIONAL BANK ISSUANCE LANDOWNERS LEGAL FRAMEWORK LEGAL FRAMEWORKS LEGAL SYSTEM LIMITED ACCESS LIQUIDITY MARGINAL COST MARKET CONDITIONS MARKET FAILURE MARKET FAILURES MARKET LIQUIDITY MARKET MECHANISMS MARKET PRICE MARKET TRANSACTIONS MARKETING MATURITY NATURAL GAS NATURAL RESOURCE NATURAL RESOURCES NEGATIVE EXTERNALITIES NEW TECHNOLOGIES NICHE MARKETS NUCLEAR SAFETY OPEN ACCESS OPPORTUNITY COSTS PILOT TESTING POLICY DECISIONS POLICY INSTRUMENTS POLICY MAKERS PORTFOLIO POWER PRICE INFORMATION PRICE RISK PRICE UNCERTAINTY PRIVATE SECTOR PROCESS INFORMATION PRODUCERS PRODUCT AVAILABILITY PRODUCT INFORMATION PRODUCTION COSTS PROJECT MANAGEMENT PROPERTY RIGHT PROPERTY RIGHTS PROTOCOL PROTOTYPE QUOTAS REDUCING EMISSIONS REGISTRY REGULATORY FRAMEWORK REGULATORY FRAMEWORKS RELIABILITY RENEGOTIATION RENEWABLE ENERGY RENEWABLE ENERGY PRODUCERS RENEWABLE ENERGY PRODUCTION RENEWABLE ENERGY TECHNOLOGIES RENEWABLE ENERGY TECHNOLOGY RENEWABLE PORTFOLIO STANDARD RESERVE RESIDENTIAL ENERGY RESOURCE MANAGEMENT RESULT RESULTS ROLE OF INSTITUTIONS SEARCH SENSITIVE INFORMATION SENSITIVITY ANALYSES SHARE VALUE SOLAR ENERGY STANDARDIZATION STATISTICAL DATA SUGAR CANE SUPERVISION TARGETS TAX TAXONOMY TECHNICAL ASSISTANCE TECHNOLOGY IMPLEMENTATION TELEPHONE TOTAL COSTS TRADABLE PERMIT TRADING COSTS TRADING SYSTEMS TRANSACTION TRANSACTION COST TRANSACTION COSTS TRANSACTIONS COSTS TRANSFER OF PROPERTY RIGHTS TRUST FUND USER USERS USES UTILITIES VERIFICATION VERTICAL INTEGRATION WEALTH WEB WEB SITES WIND WIND ENERGY WIND FARM WIND POWER
Online Access:	http://documents.worldbank.org/curated/en/2013/08/18096361/transaction-costs-low-carbon-technologies-policies-diverging-literature http://hdl.handle.net/10986/15998

Description
Summary:	Transaction costs are major challenge to moving forward toward low-carbon economic growth, as new technologies or policies tend to have higher transaction costs compared with those in the business as usual situation. However, neither a well-developed theoretical foundation nor a consensus interpretation is available for those transaction costs in the existing literature. The definitions and therefore the estimations of transaction costs vary across existing studies. The wide variations in the estimates could be attributed to several factors such as the very definitions and scope of transaction costs considered in the studies, the methodology for quantifying these costs, the type and size of low-carbon technologies, and complexities involved in the transactions. Nevertheless, the existing literature converges on addressing market failures, such as lack of information, in developing regulatory and institutional capacity to enhance private sector confidence in energy efficiency business as a key means to help reduce the transaction costs of low-carbon technologies.

Transaction Costs of Low-Carbon Technologies and Policies : The Diverging Literature

Similar Items