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Is the Clean Development Mechanism Promoting Sustainable Development?

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  • He, Jingjing
  • Huang, Yongfu
  • Tarp, Finn

Abstract

One of the dual objectives of the Clean Development Mechanism (CDM) of the Kyoto Protocol is to promote sustainable development in the host countries. With different CDM indicators for 58 CDM host countries over 2005-10, this paper empirically assesses whether CDM project development fulfils this objective of sustainable development. Using a unique dynamic panel data method based on long-differences of the model, this research provides evidence in support of significant contribution to sustainable development of CDM projects in the host countries. It sheds light on the role of CDM projects in the process of sustainable development with clear policy implications for developing countries and the wider world.

Suggested Citation

  • He, Jingjing & Huang, Yongfu & Tarp, Finn, 2012. "Is the Clean Development Mechanism Promoting Sustainable Development?," WIDER Working Paper Series 072, World Institute for Development Economic Research (UNU-WIDER).
  • Handle: RePEc:unu:wpaper:wp2012-72
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    File URL: https://www.wider.unu.edu/sites/default/files/wp2012-072.pdf
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    References listed on IDEAS

    as
    1. Jingjing He & Yongfu Huang & Finn Tarp, 2014. "Is the Clean Development Mechanism effective for emission reductions?," Greenhouse Gases: Science and Technology, Blackwell Publishing, vol. 4(6), pages 750-760, December.
    2. Hahn, Jinyong & Hausman, Jerry & Kuersteiner, Guido, 2007. "Long difference instrumental variables estimation for dynamic panel models with fixed effects," Journal of Econometrics, Elsevier, vol. 140(2), pages 574-617, October.
    3. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
    4. Olsen, Karen Holm & Fenhann, Jørgen, 2008. "Sustainable development benefits of clean development mechanism projects: A new methodology for sustainability assessment based on text analysis of the project design documents submitted for validatio," Energy Policy, Elsevier, vol. 36(8), pages 2773-2784, August.
    5. Subbarao, Srikanth & Lloyd, Bob, 2011. "Can the Clean Development Mechanism (CDM) deliver?," Energy Policy, Elsevier, vol. 39(3), pages 1600-1611, March.
    6. repec:unu:wpaper:wp2012-073 is not listed on IDEAS
    7. Ellis, Jane & Winkler, Harald & Corfee-Morlot, Jan & Gagnon-Lebrun, Frederic, 2007. "CDM: Taking stock and looking forward," Energy Policy, Elsevier, vol. 35(1), pages 15-28, January.
    8. Windmeijer, Frank, 2005. "A finite sample correction for the variance of linear efficient two-step GMM estimators," Journal of Econometrics, Elsevier, vol. 126(1), pages 25-51, May.
    9. Emma Paulsson, 2009. "A review of the CDM literature: from fine-tuning to critical scrutiny?," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 9(1), pages 63-80, February.
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    Cited by:

    1. Jingjing He & Yongfu Huang & Finn Tarp, 2014. "Is the Clean Development Mechanism effective for emission reductions?," Greenhouse Gases: Science and Technology, Blackwell Publishing, vol. 4(6), pages 750-760, December.
    2. repec:unu:wpaper:wp2012-073 is not listed on IDEAS

    More about this item

    Keywords

    Climatic changes; Econometric models; Economic policy; Sustainable development;

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