Going beyond a narrow account of the institutions and decision-making processes which formally govern the Clean Development Mechanism, this article explores the deeper politics and political economy of Argentina to show how relations of power within and beyond the state significantly configure the nature of carbon markets and their scope to enable broader transitions to lower carbon development pathways. This is done through thick description of relevant policy processes based on original fieldwork research and analysis of their implications for our understanding of the governance of carbon markets.
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Peter Newell (2013) studied this question.
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