“The book is unusual and important in that it draws together, from a theoretical and practical perspective, all three of the roles of government, of markets, and of communities in managing environmental externalities. Further, it sets its analysis in the context of the real difficulties that have to be tackled, including organisation and transaction costs limits of taxation instruments and of information and fiscal federalism. It concentrates particularly on India, but its lessons are broader. It embodies the scholarly work of Professor M.N. Murty and his colleagues, primarily at the Institute of Economic Growth and the Delhi School of Economics at the University of Delhi over four decades. This is a thoughtful and substantial volume, offering sound and analytical insights on how we can and must rise to the challenges of the severe environmental problems the world now faces”.
— Lord Nicholas Stern, Professor, London School of Economics, UK

“This edited volume of essays addresses issues related to Environmental Sustainability by looking at the ‘three pillars’, namely, markets, government, and communities that will provide the basis for policy interventions. Its recognition that effective policies require multiple engagements, and the government, the markets, and the communities need to work in tandem rather than in isolation is a special feature of the book. In dealing with a topic of much current interest and in containing a mix of analytical work, rigorous calculations, and empirical evidence, the book is timely and will be useful for academic courses, further research, and for policymakers.”
— Ranjan Ray, Professor of Economics, Monash University, Melbourne

“This excellent collection of papers reflects the work of the authors and others on the interlinked roles of government, markets, and collective action in achieving sustainable development. Highly recommended reading for those interested in the topic, especially in the context of developments in these areas in India.”
— Anil Markandya, Professor Emeritus, University of Bath, UK

“Since the introduction of economic reforms in India and other developing countries, Government, Market, and Communities have constituted three almost equally important pillars of the management of the environment which exhibit the features of public good services. Prof. Murty and Kumar’s book is going to make a very timely and important contribution to developing our knowledge base of environmental management. I am sure the book will be considered very useful and valuable by students, teachers, as well as management and policy experts working in the area.”
— Ramprasad Sengupta, Professor Emeritus of Economics, Jawaharlal Nehru University, New Delhi