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The effect of clean development mechanism on deployment of renewable energy in a selection of developing countries with Difference in Differences approach

Document Type : ORIGINAL ARTICLE

Authors

1 Ph.D. in Economics, Isfahan Branch, Islamic Azad University, Isfahan, Iran

2 Associate Professor, Faculty of Economics, Isfahan Branch, Islamic Azad University, Isfahan, Iran

3 Assistant Professor, Faculty of Economics, Isfahan Branch, Islamic Azad University, Isfahan, Iran

Abstract

The Clean Development Mechanism (CDM) is an international cooperation mechanism that provides developing countries to achieve economic growth by promoting investment in clean energy projects. This study investigates the effect of investments on renewable energy through clean development mechanism in a selection of developing countries using the method of differences in differences during the period 2001-2018. The purpose of this study is to compare the spread of renewable energy in countries that accepted the Clean Development Mechanism in comparison with others. The effect of implementing this mechanism in developing countries with poor financial markets compared to developing countries with advanced financial markets is also examined. The results show that the implementation of clean development mechanism in developing countries leads to the expansion of renewable energy. This mechanism can finance clean energy projects and transfer modern technologies to these countries. Also, according to the results, the effect of implementing the clean development mechanism in developing countries with poor financial markets is far more developed than advanced financial markets.

Keywords

References
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Economic Growth and Development Research
Volume 12, Issue 47
June 2022
Pages 97-112
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History
  • Receive Date: 08 March 2021
  • Revise Date: 03 July 2021
  • Accept Date: 30 June 2021
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