@article{Boyd:10809,
      recid = {10809},
      author = {Boyd, James},
      title = {Financial Responsibility for Environmental Obligations:  Are Bonding and Assurance Rules Fulfilling Their Promise?},
      address = {2001},
      number = {1318-2016-103194},
      series = {Discussion Paper 01-42},
      pages = {71},
      year = {2001},
      abstract = {Financal assurance rules, also known as financial  responsibility or bonding requirements, foster cost  internalization by requiring potential polluters to  demonstrate the financial resources necessary to compensate  for environmental damage that may arise in the future.  Accordingly, assurance is an important complement to  liability rules, restoration obligations, and other  regulatory compliance requirements. The paper reviews the  need for assurance, given the prevalence of abandoned  environmental obligations, and assesses the implementation  of assurance rules in the United States. From the  standpoint of both legal effectiveness and economic  efficiency, assurance rules can be improved. On the whole,  however, cost recovery, deterrence, and enforcement are  significantly improved by the presence of existing  assurance regulations.},
      url = {http://ageconsearch.umn.edu/record/10809},
      doi = {https://doi.org/10.22004/ag.econ.10809},
}