Munich Personal RePEc Archive

Environment and Sustainable Development

Halkos, George (2018): Environment and Sustainable Development. Published in: International Journal of Global Environmental Issues , Vol. 17, No. 2/3 (May 2018): pp. 111-116.

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Abstract

The severity of environmental problems and their socio-economic effects are important research issues as pollution and damages are local or global externalities implying market failures when in most of the cases the sources of pollution do not consider the full cost (including the related social costs) caused to others by their actions. Managing the various environmental problems and their associated implications is of interest to decision makers. Estimates of damage costs and a variety of other issues connected to changes in environmental quality and having to do with the importance of uncertainty and risk aversion are essential issues open to discussion. Furthermore, setting up competent policies requires cautious consideration of each source of pollution. For this reason, various features in the use of sufficient policies to cope with the various environmental problems, like people’s awareness of environmental use and non-use values, institutional frameworks and similar concerns have to be considered. Policies to handle pollution and the related degradation have to take into account both the specific economic conditions as well as the structure of the associated sectors of each region.

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