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Has the C lean D evelopment M echanism assisted sustainable development?
Author(s) -
He Jingjing,
Huang Yongfu,
Tarp Finn
Publication year - 2014
Publication title -
natural resources forum
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.646
H-Index - 49
eISSN - 1477-8947
pISSN - 0165-0203
DOI - 10.1111/1477-8947.12055
Subject(s) - sustainability , business , sustainable development , host (biology) , clean development mechanism , environmental economics , economics , climate change , biology , ecology
One of the dual objectives of the C lean D evelopment M echanism ( CDM ) of the K yoto P rotocol is to assist host countries in achieving sustainable development. With various CDM indicators for 58 CDM host countries over the period 2005‐2010, this paper empirically assesses whether CDM project development fulfils its sustainable development objective. Using a unique dynamic panel data method based on the long‐differenced model, this research provides convincing evidence that CDM projects contribute to sustainable development in host countries. It sheds light on the role of the CDM in the process of global sustainability with clear policy implications for developing countries and those embracing market instruments.