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Institutionality around the carbon markets and the mechanisms established by the Kyoto Protocol


Author Info

  • David Tobón Orozco


  • Jorge Hernán Flórez Acosta


  • Piedad Patricia Restrepo



This article presents an approach to the institutions and regulations derived from the UNFCCC and the Kyoto Protocol. It is analyzed the performance of emission reductions markets during its three years of operations, mainly the instability of prices in European markets and their relationships with CER’s, which are issued because of the projects from de Clean Development Mechanism (CDM) from developing countries. The article also establishes the achievements and limitations of CDM as well as the perspectives of these markets and its opportunities

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Bibliographic Info

Paper provided by Universidad de Antioquia, Departamento de Economía in its series Grupo Microeconomía Aplicada with number 040.

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Length: 12 pages
Date of creation: 2008
Date of revision:
Handle: RePEc:lde:grupom:040

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Related research

Keywords: Kyoto Protocol; emissions reduction markets; clean development mechanism; EUA’s; CER’s;


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