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 European University at St. Petersburg, Department of Economics in its series CEEES Paper Series with number CE3S-06/12.
Length: 25 pages
Date of creation: 09 Oct 2012
Date of revision:
Other versions of this item:
- BRECHET, Thierry & meniere, Yann & PICARD, Pierre M., 2012. "The clean development mechanism in a global carbon market," CORE Discussion Papers 2012040, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-12-06 (All new papers)
- NEP-ENE-2012-12-06 (Energy Economics)
- NEP-ENV-2012-12-06 (Environmental Economics)
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