CLEAN DEVELOPMENT MECHANISMS’ EFFECTS ON HOST COUNTRIES
The purpose of this paper is to study the effects of CDM projects implementation on the most important host countries (China, Brazil, Mexico and South Korea). The analysis concerns the 2003-2010 period and aims to define CDM’s potential impacts in terms of GHG emissions, GHG intensities, renewable energies spread, sustainable development and economic growth. As far as economic growth is concerned, we adapt the theoretical framework developed within the FDI-growth nexus, given the existing similarities between CDM and FDI investments.
Alfaro, L.A. (2003) ‘Foreign Direct Investment and Growth: does the sector matter?’, Mimeo, Harvard Business School.
Alfaro, L.A., Chanda, A., Kalmli-Ozcan, S. and S. Sayek (2004) ‘FDI and economic growth: the role of local financial markets’, Journal of International Economics 64:89–112.
Asheghian, P. (2005) ‘The impact of foreign direct investment on Japan’s economic growth’, Int’l. Trade and Finance Assoc. 15th International Conference Istanbul, Turkey. Paper 1.
Ayanwale, A.B. (2007) ‘FDI and economic Growth: Evidence from Nigeria’, African Economic Research Consortium Paper 165. Nairobi.
Balasubramanyam, V., Salisu, N. and D. Sapsford (1996) ‘Foreign direct investment and growth in EP and IS countries‘, The Economic Journal 106:92–105.
Barro-Lee Educational Attainment Dataset (2011).
Barro, R.J. and X. Sala-i-Martin (1992) ‘Convergence’, Journal of Political Economy 100:223–51.
Basu, P., Chakraborty, C. and D. Reagle (2003) ‘Liberalisation, FDI, and growth in developing countries: A panel cointegration approach’, Economic Inquiry 51:510–516.
Blomström, M., Lipsey, R.E. and M. Zejan (1994) ‘What explains developing country growth?’, NBER Working Paper No. 4132.
Borensztein, E., De Gregorio, J. and J.W. Lee (1998) ‘How does foreign direct investment affect growth?’, Journal of International Economics 45:115–135.
Carkovic, M. and R. Levine (2005) ‘Does foreign direct investment accelerate economic growth?’ In: Moran, H., Graham, E.M. (Eds.), Does foreign direct investment promote development? Institute for International Economics, Washington, D.C.
Chakraborty, C. and P. Basu (2002) ‘Foreign direct investment and growth in India: a cointegration approach’, Applied Economics, Taylor and Francis Journals 34:9:1061-1073.
Choe, J.I. (2003) ‘Do Foreign Direct Investment and Gross Domestic Investment Promote Economic Growth?’, Review of Development Economics 7:1:44–57.
De Mello, Jr., L.R. (1997) ‘Foreign direct investment in developing countries and growth: A selective survey’, The Journal of Development Studies 34:1–24.
De Mello, L.R. (1999) ‘Foreign Direct Investment-led Growth: Evidence form Time Series and Panel Data’, Oxford Economic Papers 51:199-151.
Evans, P. (1996) ‘Using cross-country variances to evaluate growth theories‘, Journal of Economic Dynamics and Control 20:1027–49.
Fedderke, J.W. and A.T. Romm (2006) ‘Growth impact and determinants of foreign direct investment into South Africa, 1956–2003 ‘, Economic Modelling 23:738–760.
Gerschenkron, A. (1952) ‘Economic backwardness in historical perspective’ In: ‘ The Progress of Underdeveloped Areas’, ed. B.F. Hoselitz. Chicago: University of Chicago Press.
Hansen, H. and J. Rand (2006) ‘On the causal links between FDI and growth in developing countries’, The World Economy 29:21–41.
Hermes, N. and R. Lensink (2003) ‘FDI, Financial Development and Economic Growth’, Journal of Development Studies 40:1:142-163.
Herzer, D., Klasen, S. and F. Nowak-Lehmann Danzinger (2008) ‘In search of FDI-led growth in developing countries: the way forward’, Economic Modelling 25:5:793-810.
Holtz-Eakin, D., Newey, W. and H. Rosen (1990) ‘Estimating Vector Autoregressions with Panel Data’, Econometrica 56:1371-1395.
Khaliq. A. and I. Noy (2007) ‘Foreign Direct Investment and Economic Growth: Empirical Evidence from Sectoral Data in Indonesia‘, Working Papers 200726, University of Hawaii at Manoa, Department of Economics.
King, R. and R. Levine (1993) ‘Finance and growth: Schumpeter might be right’, Quarterly Journal of Economics 108:717–738.
Kuriyama, A. And K. Takahashi (2013) IGES CDM Project Database
Makki, S.S. and A. Somwaru (2004) ‘Impact of foreign direct investment and trade on economic growth: evidence from developing countries’, American Journal of Agricultural Economics 86:795–801.
Mankiw, N.G., Romer, D. and D.N. Weil (1992) ‘A contribution to the empirics of economic growth’, Quarterly Journal of Economics 107:407–37.
Nair-Reichert, U. and D. Weinhold (2001) ‘Causality tests for cross-country panels: a new look at FDI and economic growth in developing countries’, Oxford Bulletin of Economics and Statistics 63:153–171.
Neto,P., Brandão, A. and A. Cerqueira (2008) ‘The Impact of FDI, Cross Border Mergers and Acquisitions and Greenfield Investments on Economic Growth’, FEP Working Papers 291, Universidade do Porto, Faculdade de Economia do Porto.
Ramírez, M.D. (2000) ‘Foreign direct investment in Mexico. A cointegration analysis’, The Journal of Development Studies 37:138–162.
Solow, R.M. (1956) ‘A contribution to the theory of economic growth’, Quarterly Journal of Economics 70:65–94.
Statistical Review of World Energy (2014), British Petroleum
Swan, T.W. (1956) ‘Economic growth and capital accumulation‘, Economic Record 32:334–61.
World Bank (2014) World Development Indicators (WDI) database.
Xiaohui, L., Burridge, P. and P.J.N. Sinclair (2002) ‘Relationships between economic growth, foreign direct investment and trade: Evidence from China’, Applied Economics, 34:1433–1440.
Zhang, K.H. (2001) ‘Does foreign direct investment promote economic growth? Evidence from East Asia and Latin America’, Contemporary Economic Policy 19:175–185.
Rights for Authors
As further described in our submission agreement (the Submission Agreement), in consideration for publication of the article, the authors assign to Energy Studies Review all copyright in the article, subject to the expansive personal--use exceptions described below.
Attribution and Usage Policies
Reproduction, posting, transmission or other distribution or use of the article or any material therein, in any medium as permitted by a personal-use exemption or by written agreement of Energy Studies Review, requires credit to Energy Studies Review as copyright holder (e.g., Energy Studies Review © 2014).
The following uses are always permitted to the author(s) and do not require further permission from DigitalCommons@McMaster provided the author does not alter the format or content of the articles, including the copyright notification:
- Storage and back-up of the article on the author's computer(s) and digital media (e.g., diskettes, back-up servers, Zip disks, etc.), provided that the article stored on these computers and media is not readily accessible by persons other than the author(s);
- Posting of the article on the author(s) personal website, provided that the website is non-commercial;
- Posting of the article on the internet as part of a non-commercial open access institutional repository or other non-commercial open access publication site affiliated with the author(s)'s place of employment (e.g., a Phrenology professor at the University of Southern North Dakota can have her article appear in the University of Southern North Dakota's Department of Phrenology online publication series); and
- Posting of the article on a non-commercial course website for a course being taught by the author at the university or college employing the author.
People seeking an exception, or who have questions about use, should contact the editors.