Climate change is a serious concern worldwide. Policy research on climate change in the past decades has largely focused on applied modelling exercises. However, the implications of specific policy strategies such as the clean development mechanism (CDM) for global and regional economic and...

'Against all odds, the CDM has shown that market mechanisms for greenhouse gas reduction in developing countries can work. Nevertheless, as Paula Castro explains convincingly, the CDM is no "magic bullet". Advanced developing countries need to be "weaned off" the CDM in order to take up...

The Clean Development Mechanism (CDM) under the Kyoto Protocol constitutes a major tool in the fight against climate change; it is also an important foreign direct investment funding opportunity for Southern countries. Yet, few studies have focused on the economic impact of CDM on host countries....