The Clean Development Mechanism (CDM) aims to enhance the efficiency of the Kyoto Protocol by providing greenhouse gas emission credits from projects in developing countries. Its unequal distribution among host…

The Clean Development Mechanism (CDM), established by the Kyoto protocol, can generate substantial rents for project participants via the sale of Certified Emission Reductions. For this reason, supposedly…

This article provides an overview of the most important insights from economic literature on private investment into research and development activity and how it may be constrained by market failure. The focus…