Road trafﬁc is one of the major consumers of energy, particularly in western industrialized countries, and globally it exhibits the highest growth rate in energy consumption of all sectors. In the Organisation for Economic Cooperation and Development (OECD) countries, more than 33% of the total ﬁnal energy consumption goes into the transportation sector, amounting to more than 11% of the world’s total primary energy consumed.
The deployment of ‘new’ environmental policy instruments (NEPIs), namely
eco-taxes and other market-based instruments (MBIs), voluntary agreements
(VAs) and informational devices such as eco-labels, has grown spectacularly in
recent years. In 1987, the Organisation for Economic Cooperation and
Development (OECD) [OECD, 1994:177] reported that most national
environmental policies still relied upon a regulatory or ‘command and control’
mode of action, but since then the number of MBIs has grown ‘substantially’
The Political Economy of the World Trading System is a comprehensive textbook account of the economics, institutional mechanics and politics of the world trading system. This third edition has been expanded and updated to cover developments in the World Trade Organisation (WTO) since its formation, including the Doha Round, presenting the essentials of trade negotiations and the WTO's rules and disciplines.