The Clean Development Mechanism and Sustainable Development: A Panel Data Analysis

Yongfu Huang and Terry Barker

No 39.2008, Environmental Economy and Policy Research Working Papers from University of Cambridge, Department of Land Economics

Abstract: The Clean Development Mechanism (CDM) of the Kyoto Protocol is designed to allow the industrialised countries to earn credits by investing in greenhouse gas (GHG) emission reduction projects in developing countries, which contribute to sustainable development in the host countries. This research empirically investigates the long-run impacts of CDM projects on CO2 emissions for 18 CDM host countries over 1990-2007. By allowing for considerable heterogeneity across countries, this research provides strong evidence in support of a significant effect of CDM projects on CO2 emission reductions in the host countries. It offers ample recommendation for improving CDM development and serves to encourage the developing countries to strengthen their national capacity to effectively access the CDM for their sustainable development objectives.

Keywords: Clean Development Mechanism; CO2 Emissions; Heterogeneous Dymanic Panels (search for similar items in EconPapers)
Date: 2008, Revised 2008
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