The clean development mechanism in a global carbon market
AbstractThis paper discusses the role of the Clean Development Mechanism (CDM) on the market for carbon quotas and countries' commitments to reduce their carbon emission levels. We show that the CDM contributes to an efficient funding of clean technology investments in least developed countries. However, the CDM is not neutral on the global level of carbon emissions as it entices countries to raise their emission caps. The CDM may also make inappropriate the inclusion of any country that takes no emission abatement commitment. It can even make inefficient a country's decision to commit to an emission target.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2012040.
Date of creation: 11 Oct 2012
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clean development mechanism; climate policy; strategic interactions;
Other versions of this item:
- Thierry Brechet & Yann Meniere & Pierre M. Picard, 2012. "The Clean Development Mechanism in a Global Carbon Market," CEEES Paper Series CE3S-06/12, European University at St. Petersburg, Department of Economics.
- Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
- F64 - International Economics - - Economic Impacts of Globalization - - - Environment
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
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