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The Kyoto protocol: Empirical evidence of a hidden success
- Source :
- Journal of Environmental Economics and Management. 95:227-256
- Publication Year :
- 2019
- Publisher :
- Elsevier BV, 2019.
-
Abstract
- How effective was the Kyoto protocol? International Environmental Agreements (IEA) have been on the rise over the past four decades; however, thus far their effectiveness is controversial. In view of the conflicting results found in the related literature, this paper addresses its effectiveness by utilizing for the first time the generalized synthetic control method (GSCM) to compare the emissions of the industrialized countries with a “No- Kyoto” counterfactual scenario that represents the expected emissions in the absence of the protocol. This method facilitates a robust comparison between treated and control countries as done by Almer and Winkler (2017) and account for the multiple treated units as done by Grunewald and Martinez-Zarzoso (2016), so as to capture the collective nature of the protocol. Results show that the protocol was successful in reducing the emissions of the ratifying countries approximately by 7% below the emissions expected under a “No-Kyoto” scenario, confirming the importance of accounting for the collective nature of the agreement.
- Subjects :
- Counterfactual thinking
Protocol (science)
Economics and Econometrics
05 social sciences
Global warming
Management, Monitoring, Policy and Law
Environmental economics
0502 economics and business
Economics
Kyoto Protocol
050202 agricultural economics & policy
050207 economics
Empirical evidence
Control methods
Subjects
Details
- ISSN :
- 00950696
- Volume :
- 95
- Database :
- OpenAIRE
- Journal :
- Journal of Environmental Economics and Management
- Accession number :
- edsair.doi...........d9d379802ae4745ae095f378be8cf125