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The political economy of the clean development mechanism (CDM) governance system

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  • Nedergaard, Peter

Abstract

In spite of the exponentially increasing volume of the CDM system of the Kyoto Protocol, very few have so far come up with scholarly political economy analysis of its governance system. Based on interviews with the CDM system’s main stakeholders as well as through scrutiny of CDM related documents, this paper will contribute to filling this hole. In this respect, it is assumed that the political economy analysis can be based on two analytical concepts: First, the CDM governance system has to be legitimate (the political side of the system), i.e. seen as broadly acceptable and accountable by its stakeholders as well as the broader public. Second, the CDM governance system has to be efficient (the economic side of the system), i.e. involve as few transaction costs as possible. Based on these concepts, the paper analyses the present balances of the CDM governance system.

Suggested Citation

  • Nedergaard, Peter, 2011. "The political economy of the clean development mechanism (CDM) governance system," MPRA Paper 33095, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:33095
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    References listed on IDEAS

    as
    1. Mr. Carlo Cottarelli, 2005. "Efficiency and Legitimacy: Trade-Offs in IMF Governance," IMF Working Papers 2005/107, International Monetary Fund.
    2. Naoki Matsuo, 2003. "CDM in the Kyoto Negotiations:," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 8(3), pages 191-200, September.
    3. 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.
    4. Del Río, Pablo, 2007. "Encouraging the implementation of small renewable electricity CDM projects: An economic analysis of different options," Renewable and Sustainable Energy Reviews, Elsevier, vol. 11(7), pages 1361-1387, September.
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    More about this item

    Keywords

    CDM; climate policy; legitimacy; efficiency;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General

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