This article analyses the conception, evolution and recent development of debt-for-nature exchange techniques. It explores how the lessons of the early, problematic exchanges have been learned and how the highly successful exchanges conducted recently in Madagascar, Egypt and Kenya have been structured. It assesses the possibility of the Clean Development Mechanism under the Kyoto Protocol being tapped as a source of ongoing funding for projects, and concludes by arguing that, given the various benefits exchanges offer both donors and recipients, these techniques have been underutilised and deserve more careful consideration.
Law and Economics
Date of this Version
Steven Freeland and Ross P Buckley, "Debt-for-Development Exchanges: Using External Debt to Mitigate Environmental Damage in Developing Countries" (April 2010). University of New South Wales Faculty of Law Research Series 2010. Working Paper 14.