caa a22 4500 606170162 CHVBK 20210128100715.0 cr unu---uuuuu 210128e20151201xx s 000 0 eng 10.1007/s10098-015-0939-4 doi (NATIONALLICENCE)springer-10.1007/s10098-015-0939-4 Nyiwul Linus Department of Economics & Africana Studies Program, Gettysburg College, 17325, Gettysburg, PA, USA aut Conceptual framework of market enforcement of environmental regulations: significance and obstacles to the role of markets in policy design [Elektronische Daten] [Linus Nyiwul] This article proposes a specific formulation of the concept of market enforcement. It argues that suffering heavy financial losses in the public markets alone does not constitute effective enforcement if such losses are less than the social costs of associated violations. If the social costs of violations are greater than the private losses to shareholders, then this constitutes an implicit transfer of wealth from the public to stakeholders of the polluting entity. The importance of this formulation is that many policy programs are in part predicated on the assumption of the existence of market enforcement. There are social costs if this premise is faulty. The approach to formulating market enforcement of environmental regulations in this article provides background to a possible development of the theory on optimal market penalties for violations of environmental regulations in the same vein as theories of optimal penalties in law. Springer-Verlag Berlin Heidelberg, 2015 Market enforcement nationallicence Regulations nationallicence Compliance nationallicence Environmental policy nationallicence Clean Technologies and Environmental Policy Springer Berlin Heidelberg 17/8(2015-12-01), 2173-2183 1618-954X 17:8<2173 2015 17 10098 https://doi.org/10.1007/s10098-015-0939-4 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s10098-015-0939-4 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Nyiwul Linus Department of Economics & Africana Studies Program, Gettysburg College, 17325, Gettysburg, PA, USA aut NATIONALLICENCE 773 0- Clean Technologies and Environmental Policy Springer Berlin Heidelberg 17/8(2015-12-01), 2173-2183 1618-954X 17:8<2173 2015 17 10098