Market for tradable pollution permits

https://doi.org/10.17221/5189-AGRICECONCitation:Toušek Z. (2004): Market for tradable pollution permits. Agric. Econ. – Czech, 50: 199-203.
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Structural changes that were following the transformation from the centrally planed economy to market oriented one brought among other things new perceptions that of the hither to mainly reglected environmental issues. The Czech Republic as one of the few developed countries has achieved a tremendous decline in a emission production by huge investments. Because of the Kyoto protocol ratification by the EU, this issue is getting more important. The practical consequence of this ratification process is the creation of the unified European market for tradable emission permits that should be fully functioning by the year 2005. It is essential to fully understand basic theoretical principles of tradable emission permits market for homogenous and heterogeneous pollutions to achieve maximal benefits out of it.
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