Borghesi, S.; Ulph, D.; (2002) Sustainability for all? a North-South-East-West model. (Discussion Papers in Economics 01-200). Department of Economics, University College London: London, UK.

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Abstract

This paper examines whether it is possible for all countries to simultaneously achieve efficient and sustainable allocations of resources even if they do not cooperate in a world with inter-generational and intra-generational externalities. Using a simple model with two governments one for the north- and one for the south- we show that one hemisphere cannot always achieve efficiency and sustainability independently of the other, that is, whatever allocation is chosen by the other hemisphere. However, the north and the south can simultaneously achieve efficiency and sustainability if each government aims separately at these two goals in its own hemisphere.

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