Environmental Economics, Law and Policy: Brazil vis-a-vis India (Part I: Theoretical Modelling)

Amidst the perils of industrialization in the forms of environmental impacts of mining and use of energy and destruction of urban biodiversity, it became imperative for the Latin American countries to design environmental policies in accordance with the respective historicity, demography, and polity of each nation. But in resolving a tussle between eco-environmental maintenance and vigorous industrialization while trying to find a choice between eco-friendly environment or prosperous economic growth, the Indian judiciary accepted that neither the eco-environment alone nor the industrial and economic growth by itself will meet the human needs in the global competition. It is necessary for the policy makers in framing any environmental policy or for legislators in enacting any environmental law to have an appropriate frame of environmental impact assessment. In this context, this study sheds light on the fusion of legal and economic elements with regard to deforestation in Brazil and water pollution in India. Part I of this study is theoretical modeling and Part II is estimation of the models. This paper is Part I.