Alternatives to Regulation? Market Mechanisms and the Environment

David Driesen

in The Oxford Handbook of Regulation

Published in print September 2010 | ISBN: 9780199560219
Published online September 2010 | | DOI:

Series: Oxford Handbooks in Business and Management

Alternatives to Regulation? Market Mechanisms and the Environment

More Like This

Show all results sharing these subjects:

  • Business and Management
  • Business and Government


Show Summary Details


This article identifies a number of ongoing challenges. It focuses on the means of environmental regulation — the techniques regulators use to reduce pollution. It discusses traditional regulation (often called command-and-control regulation), the economic theory undergirding market-based environmental regulation, and increased use of market mechanisms. This treatment of market mechanisms considers them in an institutional context, showing how a multilevel governance system implements market mechanisms. Market-based instruments have become increasingly important as neoliberalism has advanced. While these instruments provide a cost effective way of realising environmental improvements, they depend on government design and enforcement for their efficacy. A concern that is shared across contributions is that such instruments are increasingly deployed in a complex context of multilevel governance and challenges multiply where market mechanisms traverse national boundaries.

Keywords: environmental regulation; market mechanisms; neoliberalism; multilevel governance; national boundaries

Article.  8342 words. 

Subjects: Business and Management ; Business and Government

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at Oxford University Press »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.