FUNDACION DE I NVESTIGACIONES ECONOMICAS LATINOAMERICANAS Conferencias 2023 Carbon Pricing, Productividad

Reformas y productividad • Más allá de Minería existen otros 4 sectores de alto nivel (brecha) y crecimiento de productividad que dependen de reformas en el comercio (agricultura, industria) y en el mercado de bienes y servicios (EGA y TCS). [...] 41 Related literature • Papers on the structural determinants of carbon pricing in general (Carraro and Favero, 2009; Faure, 2020) • Literature on the effects of energy subsidies on effective energy and carbon prices (Parry et al, 2021) • Reports by OECD (OECD-ECR, 2021, chapter 2) and background academic papers (e.g. [...] Among them a proxy of the marginal cost of public funds (mcf) defined from optimal indirect taxation formulae (Navajas et al, 2012) : • Three blocks of explanatory variables related to governance and institutions; infrastructure quality indicators and geographical indicators 52 Data and variables definition 53 Summary of econometric results • A simple automatic selection of explanatory variables l. [...] • The quantitative contribution of ETS to economy-wide ECR is significant (countries with ETS have on average 7% higher ECR) and shows that the introduction of ETS does not carry a compensatory adjustment of other components of ECR, mainly excises. [...] – The quantitative contribution of having an ETS to the economywide ECR is significant in magnitude, suggesting that the introduction of an ETS does not carry a compensatory adjustment of other components of ECR (e.g.