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The clean development mechanism in a globalized carbon market

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Author Info

  • Thierry Bréchet

    ()
    (CORE and Louvain School of Management, Université catholique de Louvain)

  • Yann Ménière

    (CERNA, Ecole des Mines de Paris)

  • Pierre M. Picard

    ()
    (CREA, University of Luxembourg (Luxembourg), and CORE, Université catholique de Louvain (Belgium).)

Abstract

This paper discusses the role of the Clean DevelopmentMechanisms (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. How- ever, 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 inap- propriate the inclusion of any country that makes no emission target commit- ment in the climate change protocol (like the Kyoto protocole). It can even make inefficient a country's decision to commit to an emission target.

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Bibliographic Info

Paper provided by Center for Research in Economic Analysis, University of Luxembourg in its series CREA Discussion Paper Series with number 11-12.

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Date of creation: 2011
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Handle: RePEc:luc:wpaper:11-12

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  1. Schneider, Malte & Holzer, Andreas & Hoffmann, Volker H., 2008. "Understanding the CDM's contribution to technology transfer," Energy Policy, Elsevier, vol. 36(8), pages 2920-2928, August.
  2. Michaelowa, Axel & Jotzo, Frank, 2005. "Transaction costs, institutional rigidities and the size of the clean development mechanism," Energy Policy, Elsevier, vol. 33(4), pages 511-523, March.
  3. Millock, Katrin, 2002. "Technology transfers in the Clean Development Mechanism: an incentives issue," Environment and Development Economics, Cambridge University Press, vol. 7(03), pages 449-466, July.
  4. Dechezleprêtre, Antoine & Glachant, Matthieu & Ménière, Yann, 2009. "Technology transfer by CDM projects: A comparison of Brazil, China, India and Mexico," Energy Policy, Elsevier, vol. 37(2), pages 703-711, February.
  5. Fankhauser, Samuel & Martin, Nat, 2010. "The economics of the CDM levy: Revenue potential, tax incidence and distortionary effects," Energy Policy, Elsevier, vol. 38(1), pages 357-363, January.
  6. Helm, Carsten, 2003. "International emissions trading with endogenous allowance choices," Journal of Public Economics, Elsevier, vol. 87(12), pages 2737-2747, December.
  7. Jean-Marc Burniaux & Jean Chateau & Rob Dellink & Romain Duval & Stéphanie Jamet, 2009. "The Economics of Climate Change Mitigation: How to Build the Necessary Global Action in a Cost-Effective Manner," OECD Economics Department Working Papers 701, OECD Publishing.
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Cited by:
  1. Knut Einar Rosendahl & Jon Strand, 2012. "Emissions trading with offset markets and free quota allocations," Discussion Papers 719, Research Department of Statistics Norway.

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