THE ACTIVITIES IMPLEMENTED JOINTLY PILOTS: A FOUNDATION FOR CLEAN DEVELOPMENT MECHANISM?
This chapter is based on Larson and Breustedt (2009). Permission from the Journal Environmental and Resource Economics is acknowledged.
With Contributions by Gunnar Breustedt.
The following sections are included:
ORIGINS OF THE AIJ PROGRAM
RELATED STUDIES
Numeric Studies
Investment and Agency Approval
Multilateral and Bilateral Transaction Costs
A MODEL OF PROJECT INVESTMENT
Conceptual Model
Applied Model
An Alternative Dichotomous Model
Internalized Agency Preferences and Transaction Costs
Additional Estimation Concerns
DATA DESCRIPTION
AIJ Investments
Variables Affecting Investment Choice
Variables Affecting Agency Preferences
EMPIRICAL RESULTS
Baseline Model Specification
Revisiting the Contemporaneous Correlation Assumption
Epilogue
CONCLUSION
REFERENCES
