Can green aid help mitigating climate change?
This study empirically examines the role of green official development assistance (ODA) in mitigating CO2 emissions when green aid also affects the economic growth of green ODA recipient countries. Panel econometric models are constructed to estimate effects of green ODA on economic growth in green ODA recipient countries from 2002 to 2010. In the second stage, economic growth and green ODA are taken into account as determinants of CO2 emissions. The joint estimation results based on two-stage regressions show that even if green ODA reduces CO2 emissions directly, it increases CO2 emissions indirectly through its impact on economic growth. Therefore, the direct effect of green ODA on CO2 emissions is lessened significantly.
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