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Ibero-Amerika-Institut für Wirtschaftsforschung (IAI), Universität Göttingen >
Discussion Papers, IAI, Universität Göttingen >
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http://hdl.handle.net/10419/57302
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| Title: | | How well did the Kyoto Protocol work? A dynamic-GMM approach with external instruments  |
| Authors: | | Grunewald, Nicole Martínez-Zarzoso, Inmaculada |
| Issue Date: | | 2011 |
| Series/Report no.: | | Discussion papers, Ibero America Institute for Economic Research 212 |
| Abstract: | | This paper assesses the impact of the Kyoto Protocol on CO2 emissions. With this aim a dynamic panel data model is estimated for a cross-section of 213 countries over the period 1960 to 2009. The model, based on a STIRPAT approach, also integrates the EKC approach and specifically considers the endogeneity of the policy variable. To sort out causality the number of financed CDM projects is used as an external instrument. The main results indicate that obligations from the Kyoto Protocol have a measurable reducing effect on CO2 emissions and indicate that a treaty often seen as failed in fact may be producing some non-trivial effects. |
| Subjects: | | Environmental Kuznets Curve Kyoto Protocol Panel Data Clean Development Mechanism |
| JEL: | | Q54 Q56 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Discussion Papers, IAI, Universität Göttingen
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