Firm Selection and Growth in Carbon Offset Markets: Evidence from the Clean Development Mechanism

Thank you to Jingze (Alex) Dong, Adaolisa Ezekobe, Jiaqi Huang and Mingyang Wei for excellent Research Assistance. Thank you to seminar participants at Boston University, UCLA, UCSD, Chicago, the Coase Conference, the Asian Econometric Society Meeting at Hangzhou, Georgetown, HEC Montreal, KDI/HAPI Conference, the NBER DEV winter meeting, the University of Massachusetts Amherst, Northwestern, PKU HSBC and Stanford SITE for helpful comments. Nicholas Ryan acknowledges financial support from NSF Career Grant #2143098. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.