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Climate change and fiscal policy : a report for APEC / Stephen Howes and Leo Dobes. World Bank report ; 56563, Jan. 2011, 135 p.http://go.worldbank.org/2KZKICZS20Asia-Pacific Economic Cooperation (APEC) economies display large  variation in terms of income per capita. The richest APEC economies have  an income per capita about twenty times higher than the poorest ones.  So far most work on fiscal policy and climate change has been written  with developed economies in mind. This report corrects that bias with a  particular focus on the developing economies of APEC. It draws on  examples from three developing economies in particular, China, Indonesia  and Vietnam. It also plays close attention to lessons that could be  learnt from the advanced economies of APEC and elsewhere. On mitigation,  the report notes that many developing as well as developed economies  have now adopted emissions reduction targets. These targets are  ambitious, and their achievement will not be easy. Instrument choice  will be the difference between success and failure, and is a major theme  of the report. The key message is that the characteristics of  developing economies, particularly of their energy sectors, matter a lot  when it comes to policy choice in this area. Simply mimicking what has  been adopted in or recommended for developed countries is unlikely to  work. Mitigation in developing countries requires a broad-based response  with four key components... (© World Bank)