Article (Scientific journals)
The Clean Development Mechanism in a Globalized Carbon Market
Bréchet, Thierry; Ménière, Yann; Picard, Pierre M
2015In Canadian Journal of Economics
Peer reviewed


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Abstract :
[en] This paper discusses the role of the Clean Development Mechanism (CDM) on the market for carbon quotas and countries’ commitments to reduce their carbon emission levels. We show that the CDM contributes to an efficient funding of clean technology investments in least developed countries. However, the CDM is not neutral on the global level of carbon emissions as it entices countries to raise their emission caps. The CDM may also make inappropriate the inclusion of any country that takes no emission abatement commitment. It can even make inefficient a country’s decision to commit to an emission target.
Disciplines :
Special economic topics (health, labor, transportation...)
Author, co-author :
Bréchet, Thierry;  Université Catholique de Louvain - UCL > CORE and Louvain School of Management
Ménière, Yann;  Ecole des Mines de Paris > CERNA
Picard, Pierre M ;  University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA)
External co-authors :
Language :
Title :
The Clean Development Mechanism in a Globalized Carbon Market
Publication date :
Journal title :
Canadian Journal of Economics
Publisher :
Blackwell Publishing, Toronto, Canada
Peer reviewed :
Peer reviewed
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since 15 March 2016


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