Singapore and Korea are somewhat similar in adopting eco-innovation policies:

both are highly innovative economies, with similar patterns of comparative advantage in producing eco-friendly goods and services. Korea was the first to adopt instruments for eco-innovation. Singapore is now adopting its own instruments in this direction. How would you expect this to affect the welfare of Korea? Of the United States? (Hint: Think of adding a new economy identical to that of Korea to the world economy.) LO.1