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ENCYCLOPEDIA

OF WORLD PROBLEMS

AND HUMAN POTENTIAL

  2. Global strategies
  3. Using economic instruments

Using economic instruments

Description

Using economic instruments involves applying financial tools—such as taxes, subsidies, tradable permits, and pricing mechanisms—to influence behavior and resource use towards desired outcomes. This strategy aims to correct market failures, internalize external costs, and incentivize sustainable practices. By aligning economic incentives with environmental and social objectives, economic instruments provide practical remedies to issues like pollution, overconsumption, and resource depletion, encouraging more efficient and responsible decision-making among individuals, businesses, and governments.This information has been generated by artificial intelligence.

Broader

Reorienting government policies
Yet to rate
Using-Misusing
Yet to rate

Narrower

Using economic instruments for sustainable development
Excellent
Reducing taxes
Presentable
Providing economic incentives
Yet to rate
Increasing taxes
Yet to rate

Facilitated by

Supporting regional centres on the effective use of economic instruments
Yet to rate
Exchanging information on national use of economic instruments
Yet to rate
Coordinating fiscal and taxation systems
Yet to rate
Assessing implications of using economic instruments
Yet to rate

Problem

Distortionary tax systems
Excellent
Tax holidays
Presentable
Tax discrimination against non-residents of a country
Presentable
Tax discrimination against investment in a foreign country
Presentable
Tax barriers to the dissemination of technical knowledge
Unpresentable
Prohibitive death duties
Unpresentable
Prohibitive airport tax
Unpresentable
Property tax disincentives
Yet to rate
Capital gains tax
Yet to rate

Value

Uneconomic
Yet to rate

SDG

Sustainable Development Goal #8: Decent Work and Economic Growth

Metadata

Database
Global strategies
Type
(C) Cross-sectoral strategies
Subject
  • Amenities » Instruments
  • Economics » Economic
    • Content quality
    Yet to rate
     Yet to rate
    Language
    English
    1A4N
    J2655
    DOCID
    12026550
    D7NID
    206261
    Editing link
    Official link
    https://encyclopedia.uia.org/strategy/using-economic-instruments
    Last update
    Dec 3, 2024