ABSTRACT
This conclusion presents some closing thoughts on the key concepts covered in the preceding chapters of this book. The book discusses how performance of International Environmental Agreements (IEA) can be improved and aims to bring the main challenges of international agreements in sharper focus. It attempts to analyse the most probable factors that cause IEAs to fail in achieving the proposed outcomes of such IEAs. The book explores various aspects of 'stability of IEAs'. It surveys vast literature from the perspective of political economy, the authors reach the conclusion that reputational effects and IEA design on the international level, and domestic institutions and actors on the national level, are major determinants of IEA compliance. IEAs and national compliance strategies are generally resulted with various types of economic inefficiencies. The book also concentrates on the production generated pollution externalities and optimal emission standards in case of heterogeneous firms as well as heterogeneous countries.
