Market Based Mechanisms: Panacea for Plastic Pollution Control in Bayelsa State
- February 29, 2020
- Posted by: RSIS
- Categories: Economics, IJRSI
International Journal of Research and Scientific Innovation (IJRSI) | Volume VII, Issue II, February 2020 | ISSN 2321–2705
Market Based Mechanisms: Panacea for Plastic Pollution Control in Bayelsa State
Onyinye I. Ochuba1, Prof. Good Wilson2
1Department of Economics, University of Africa, Toru-Orua, Bayelsa State, Nigeria
2Department of Economics, Ignatius Ajuru University of Education, Rumuolumeni, Port Harcourt, Rivers State, Nigeria
Abstract: – The world generally has been bedevilled by pollution of all sorts ranging from water, air, soil, noise with the latest addition of plastic pollution. Plastic pollution is the aftermath of high usage and indiscriminate disposal of plastic waste. These wastes cannot be assimilated by the environment due to their non-degradable nature. This has resulted in both soil and water bodies being littered with plastics. This exploratory study seeks to find solution to the observed high rate of plastic usage and its indiscriminate disposal using market mechanism inform of Pigovian corrective tax. The study area is Yenagoa Bayelsa State and purposive sampling technique was deployed to elicit the view of plastic users, manufacturers as well as waste managers. Our findings revealed that these stakeholders in plastic industry are very reluctant to accepting corrective plastic tax as a way of reducing the menace of plastic pollution. Rather they are all open to a viable replacement for plastics.
Keywords: Pigovian, Non-Degradable, Biodegradable, Sink function, Externality.
JEL Classification Code: H23
I. INTRODUCTION
Pollution as defined by (Hussen, 2004) is the residuals (low entropic matter) of economic process. It therefore implies that pollution is an inevitable by- product of economic activities. The word pollution emanates from the Latin word pollutus which means foul, unclean or dirty. One of the key functions performed by natural system is the sink function. Sink function is the ability of the environment to absorb waste. When these wastes become too much or are such that the natural system lacks capacity to absorb them, they give rise to pollution. Pollution therefore is anything that has the capacity of altering the original setting or atmosphere of an environment, thereby beating its assimilative capacity or depleting its ability to perform the sink function. (Cunningham, Cunningham, & Saigo, 2003)
