RELATIONAL CHARACTERISTICS OF THE FLEXIBILITY MECHANISMS UNDER THE KYOTO PROTOCOL: IMPLICATIONS FOR SUB-SAHARAN AFRICAN COUNTRIES

摘要

This paper used a transaction cost framework to examine the implications of one of the Kyoto Protocol's flexibility mechanisms, the Clean Development Mechanism (CDM), for countries in sub-Saharan Africa. The argument was made that the CDM reflects a desire on the part of nations to forge a treaty within a "relational" governance context. In this sense, the CDM presents opportunities for countries in SSA to explore economies to their benefit. While considerable opportunities exist to implement CDM projects in the region, countries would need to nurture the "relational" vision of the protocol and undertake those domestic reforms to reduce the transaction costs associated with CDM project implementation. SSA countries may need to borrow from the experiences of other nations in such areas as defining property rights to land, land and forestry law reforms, and supportive comprehensive and sustainable rural development policies to benefit from CDM projects.