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Is the Clean Development Mechanism Effective for Emission Reductions?

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

This research studies whether the Clean Development Mechanism (CDM) of the Kyoto Protocol achieves its objective of emission reductions in the host countries. It empirically investigates the impacts of CDM projects on CO? emission reductions for 60 CDM host countries over 2005-10. This research makes use of the newly-developed econometric methods for dynamic panel data models associated with X-differencing procedure. It provides evidence in support of a decline in CO? emissions in the CDM host countries. It has important policy implications that encourage the international community to support developing countries´ efforts towards low-carbon development via CDM projects.

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File URL: https://www.wider.unu.edu/sites/default/files/wp2012-73.pdf
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Paper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Paper Series with number UNU-WIDER Research Paper WP2012/073.

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Length: 20
Date of creation: 2012
Date of revision:
Handle: RePEc:unu:wpaper:wp2012-73
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  1. Maurice J.G. Bun & Jan F. Kiviet, 2002. "On the Diminishing Returns of Higher-order Terms in Asymptotic Expansions of Bias," Tinbergen Institute Discussion Papers 02-099/4, Tinbergen Institute, revised 24 Oct 2002.
  2. 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.
  3. Jinyong Hahn & Guido Kuersteiner, 2002. "Asymptotically Unbiased Inference for a Dynamic Panel Model with Fixed Effects when Both "n" and "T" Are Large," Econometrica, Econometric Society, vol. 70(4), pages 1639-1657, July.
  4. repec:reg:rpubli:353 is not listed on IDEAS
  5. Bruno, Giovanni S.F., 2005. "Approximating the bias of the LSDV estimator for dynamic unbalanced panel data models," Economics Letters, Elsevier, vol. 87(3), pages 361-366, June.
  6. Anderson, T. W. & Hsiao, Cheng, 1982. "Formulation and estimation of dynamic models using panel data," Journal of Econometrics, Elsevier, vol. 18(1), pages 47-82, January.
  7. Sheila M. Olmstead & Robert N. Stavins, 2006. "An International Policy Architecture for the Post-Kyoto Era," American Economic Review, American Economic Association, vol. 96(2), pages 35-38, May.
  8. Huang, Yongfu & Barker, Terry, 2012. "The Clean Development Mechanism and low carbon development: A panel data analysis," Energy Economics, Elsevier, vol. 34(4), pages 1033-1040.
  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.
  10. Kiviet, Jan F., 1995. "On bias, inconsistency, and efficiency of various estimators in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 68(1), pages 53-78, July.
  11. He, Jingjing & Huang, Yongfu & Tarp, Finn, 2012. "Is the Clean Development Mechanism Promoting Sustainable Development?," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  12. Azmat Gani, 2012. "The Relationship Between Good Governance And Carbon Dioxide Emissions: Evidence From Developing Economies," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 37(1), pages 77-93, March.
  13. Nickell, Stephen J, 1981. "Biases in Dynamic Models with Fixed Effects," Econometrica, Econometric Society, vol. 49(6), pages 1417-26, November.
  14. He, Jingjing & Huang, Yongfu & Tarp, Finn, 2012. "Is the Clean Development Mechanism Promoting Sustainable Development?," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
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