Analyzing the Effectiveness of International Environmental Policies: The Case of the Kyoto Protocol
69 Pages Posted: 17 Nov 2016 Last revised: 10 Feb 2019
Date Written: November 17, 2016
We study the effectiveness of emission targets under the Kyoto Protocol with respect to reducing CO2 emissions. Using country-level and US state-level panel data and employing the synthetic control method, we find very little evidence for an emission reduction effect for the major emitters among the Annex B countries with binding emission targets. More generally, we also show that evaluating the effectiveness of international environmental policies at the country level comes with a number of empirical challenges that may invalidate findings based on more traditional panel data approaches.
Keywords: Climate Policy, International Environmental Agreements, Kyoto Protocol, Synthetic Control Method
JEL Classification: K33, Q54
Suggested Citation: Suggested Citation