Essays on Impact of Carbon Tax Introduction in Australia Case Study

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The paper "Impact of Carbon Tax Introduction in Australia" is an outstanding example of a macro & microeconomics case study. The term carbon tax refers to a form of tax that is levied on the contents of carbon that may be found in fuels. It is present in all hydrocarbon fuels i. e. natural gas, coal and petroleum; because when burnt they emit Carbon dioxide (a gas that has been duped a major player in global warming) as compared to non-combustion sources of energy such as nuclear, wind, hydropower and sunlight; all of which do not emit Carbon dioxide (Gandhi, 1998). During this era of globalization and the development of Multinational Corporations (MNCs), vast industrialization has taken place: something that has caught the eyes of many governments because they have to do something about emissions.

Carbon taxes have provided the better option towards discouraging the emissions of greenhouse gases because they offer an arguably cost-effective means towards discouraging the emissions because they are Pigovian taxes, that is, tends to address the issue of emission with reduced social or full costs of the emitters actions (Smith, 2013). A good number of nations have consequently implemented energy/carbon taxes.

In this paper, Australia is the case study and will look at how this bold step has or may impact domestic and international investment in the country, bearing in mind this lies under the political, legal, technological and ecological factors in the PESTLE analysis (OECD, 2012). Australia Australia has one of the world’ s fast-growing economies. Since the 1980s, the country’ s government has overseen an economic transformation, turning the country into a high tech one that’ s export-driven. The most tangible result has been a remarkable gross domestic product (GDP) rise of 3.6% from 1992 to 2007; compared to OEDCs 2.5% average.

Australia has also proved itself economically during the 2008 downturn of the global economy. In fact, the country’ s employment levels and economy levels actually grew at the center of the crisis (Lancaster, 2012). In recent times, the Australian economy has become a force to reckon with in the larger world economy, due to its performance and good rewards to investors; this can be largely attributed to its vast good performing industries whose doors are always open for investors to do what they love doing most.

It is not a wonder that many global investors have flocked the Australian industries.

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