economic instrument


 

Kindly note that this presentation of LEO has now been integrated with the InforMEA Portal.

 

Definition: 

Economic instruments are fiscal and other economic incentives and disincentives to incorporate environmental costs and benefits into the budgets of households and enterprises. The objective is to encourage environmentally sound and efficient production and consumption through full-cost pricing. Economic instruments include effluent taxes or charges on pollutants and waste, deposit-refund systems and tradable pollution permits. (Source: OECD Glossary of statistical terms)

  • Any tool or method used by an organization to achieve general developmental goals in the production of, or in the regulation of, material resources. (Source: GEMET/OED); Incentive measures bring about an intended behaviour or outcome as an alternative to command and control measures - legal codes and prescriptions (Source: InforMEA)

Other relations

  • economic instrument (CMS)
  • Economics, Trade and Incentive Measures (CBD)
  • tax/levy (ECOLEX)
  • fiscal and market measures (ECOLEX)
Broader
economy
Narrower
Related
Synonyms
  • fiscal measure
  • market mechanism
  • incentive measure

Content tagged with economic instrument

See all documents containing the keywords "economic instrument"