The objective of this paper is to analyse the implications for developing countries to adopt greenhouse gases emissions reduction targets on the basis of a Carbon Intensity Index (Emissions/GDP). The basis for that prescription is that the target becomes dynamic, avoiding the slowing down of the countries ’ development and the creation of “hot air ” (since greater growth means greater emissions allowed and viceversa). This paper studies –taking into consideration the case of Argentina-, the advantages and disadvantages of different types of targets (including the above mentioned one) and describes the index chosen by the Argentine authorities to define their target, which is based not on the GDP but on the Root of GDP. The mentioned indicator goes a step forward by causing –for the chosen level of reduction- a dynamic reflected in a positive relation between GDP and allowed emissions, but also in a relation of the same sign between GDP and emissions reductions. The authors thanks the numerous comments made by Jorge Lozanoff to an earlier version of this paper and the valuable contributions made by Fabián Gaioli (in particular to Section II. 4. of this paper). Correspondence should b
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