Under the Kyoto Protocol, Clean Development Mechanism (CDM) is expected to facilitate the North-South knowledge spillovers for climate-friendly technologies. This paper examines the effects of this voluntary international climate cooperation on firm innovation and knowledge spillovers through...

This study aims to examine the green innovation effect of the carbon emissions pilot policy in China. First, using the difference-in-differences method and regressions of instrumental variables using the data from Chinese listed firms, we verify that the policy promotes green innovation among...