We examine the degree of natural gas market integration in Europe, North America and Japan, between the mid 1990's and 2002. The relationship between the international gas marker prices, and their relation to the oil price, are investigated through principal component analysis and Johansen likelihood-based procedures. Both of them show a high level of integration within the European/Japanese and North ...
A major concern about land use, land-use change and forestry (LULUCF) projects under the Clean Development Mechanism (CDM) is the potential for leakage. Leakage refers to a net increase of greenhouse-gas emissions in an area outside the project resulting from the CDM activity. This paper provides an overview of leakage, its definitions and its causes. It describes ways that LULUCF projects may suffer ...