Abstract
This study evaluates the relative effectiveness of Carbon Tax and Emission Trading Schemes (ETS), for developing economies, in promoting economic growth as well as emission reductions. A systematic literature review (SLR) analyzing 36 studies is employed for this purpose. Findings reveal that Carbon Tax brings temporary economic deceleration but fuels long-term sustainability with clearer direct impacts. ETS also achieves the same objectives with greater flexibility thereby offsetting the negative impacts of Carbon Pricing via price volatility. Revenue recycling is a key tool to address economic disbenefits. This study sheds an urgent light on the imperatives for region-specific policy designs and forthcoming hybrid mechanisms as well as longitudinal socioeconomic effect investigation among underrepresented developing regions.
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