Thirteen papers addressing current issues in international environmental economics. They analyze the relationship between trade liberalization and environmental policy; the impact of trade liberalization on environmental quality; investigate problems of commitment faced by regulating authorities; provide new insights into the Porter hypothesis; present empirical research related to international competitiveness and location of polluting plants; address international environmental agreements, with a special focus on income distribution and the political-economy dimension, tradable emission reductions, and the quantitative impact of trade liberalization and the implementation of the Kyoto Protocol on carbon leakage.

The papers in this volume show that even after ten years of intense research both on trade and the environment, and on transfrontier pollution and international environmental agreements, research in this area still produces new, relevant, and thought-provoking ideas and results.

Ethical Prospects: Economy, Society, and Environment aims to present and summarize new perspectives and leading-edge results in ethics reflecting on interconnected economic, social and environmental issues. The yearbook reports on innovative practices and policy reforms and provides a forum for discussion about groundbreaking theories. The main function of the yearbook is to present ideas and initiatives that lead toward responsible business practices, policies for the common good and ecological sustainability. It seeks to form a value-community of scholars, practitioners and policymakers engaged in genuine ethics in business, environmental management, and public policy.