Possibilities of Economic Instruments in the Further Development of the Law of Outer Space
- Paper number
IAC-05-E6.1.11
- Author
Dr. Leila Juanto, University of Lapland, Finland
- Coauthor
Ms. Lotta Viikari, Arctic Centre, University of Lapland, Finland
- Year
2005
- Abstract
Economic instruments have traditionally been a tool commonly utilized on domestic level. Their merits are acknowledged in numerous policy areas in the activities of the international community as well. Today, economic instruments are applied on an increasing scale also in international law. A wide variety of policies have been called economic instruments. In a broad context, they may include instruments such as taxes and charges, emissions trading, joint implementation, voluntary agreements and state aid. Their purpose is to influence behavior by providing economic rather than purely legal incentive. The aim of this paper is to analyze and discuss legal issues related to the potentials of economic instruments, specifically as regards utilization of outer space. Economic instruments constitute a class of policy tools that could be used to achieve common goals such as those put forward in the UN sponsored outer space treaties. They appear particularly promising in the light of the current commercialization and privatization of space activities. Economic instruments have major potential in terms of enhancing the well-being of all mankind and promoting sustainable development, concordant with the ideology of the international law of outer space. For instance, the idea of a fund system the benefits of which would be used to contribute to such goals deserves more elaboration. The prospects of fund schemes and other economic instruments as a means of advancing the rationale behind the space treaties is the focus of this paper. For this purpose, interesting analogies can be derived from both national systems and from international level.
- Abstract document