Selvaretnam, Geethanjali; Thampanishvong, Kannika - Scottish Institute for Research in Economics (SIRE) - 2010
Using a theoretical framework, we explain the impact of the Clean Development Mechanism (CDM) on emissions in Annex I and non-Annex I countries. We show that on one hand, emissions in the non-Annex I country decline because of abatement sponsored by the Annex I country under the CDM; on the...