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Using the synthetic control method to analyze the effectiveness of the kyoto protocol to reduce co<inf>2</inf>, ch<inf>4</inf> and n<inf>2</inf> o emissions in Spain

Abstract:

This article examines the effect of the Kyoto Protocol in Spain, specifically the effectiveness of the objectives of the Kyoto Protocol (kp) on reducing CO2, CH4 and N2 O emissions in Spain is studied. For this purpose, it was used two sets of panel data that consist in information at country-level (donor pool made up for country information) and at state-level (donor group made up of information from us states). To obtain a consistent estimate on the effect of the Kyoto Protocol in Spain, the synthetic control method (scm) that allows to perform an adequate contrast hypothesis was used. The findings indicate that there is no reducing effect of emissions for the gases studied; however, the evaluation of the Kyoto Protocol (kp) pbkp_redicts a series of complications that may allude to the findings depending on the econometric approach used. These findings are consistent with the evidence that shows a null effect of the effectiveness of the Kyoto Protocol (KP), and contribute to measure the impact of the Kyoto Protocol (PK) on emissions of CO2, CH4 and N2 O in Spain.