Research on the effectiveness of Carbon Market Pilot Policies
DOI:
https://doi.org/10.54097/trv35t42Keywords:
Carbon Emissions Trading, Difference-in-Difference Model (DID) , Carbon Emission ReductionAbstract
The carbon trading market is widely recognized as a crucial tool in the effort to combat climate change and alleviate greenhouse gas emissions. It is essential to evaluate its effectiveness in implementation. To achieve this aim, we utilized the Differences-in-Differences (DID) method to analyze carbon emission data spanning from 2007 to 2020 across various provinces in China. The primary objective is to empirically investigate the impact of China's carbon emissions trading mechanism on regional carbon emissions. Results show that the implementation of the carbon emissions trading mechanism has played a positive role in reducing carbon emissions. The research identifies a significant positive correlation between the level of economic development (GDP) and foreign direct investment (FDI) with carbon emissions. Additionally, there is a positive association between the volume of proposals addressing environmental issues and carbon emissions. In summary, this study provides valuable insights into the effectiveness of China's carbon emissions trading mechanism, offering important lessons for future policy development and the optimization of the carbon market.
Downloads
References
He Qiang;Li Ting. Infinite potential of carbon trading market[J]. China Financier,2010,(05):
-146.DOI:10.19294/j.cnki.cn11-4799/f.2010.05.045
Yang Xiaoqing. The Research of Carbon Emissions Trading System Based on Low-Carbon Economy Development Model [D]. Northeast University of Finance and Economics, 2010.
Chen Xiangyang;Lu Shumin. The basic elements and mechanism construction of China's unified carbon trading market[J]. Regional Economic Review,2016,(06):92-98.DOI:10.14017/ j.cnki.2095-5766.2016.0150
Yu Xiaoyan. Study on China’s Carbon Emission Market and Price Fluctuation[D]. Beijing Forestry University, 2018.DOI:10.26949/d.cnki.gblyu.2018.000603
Yang H. Research on Influencing Factors of Carbon Emission Right Trading Price in China[D]. Xi'an University of Science and Technology,2020.DOI:10.27397/d.cnki.gxaku.2020.000048
Wang Y C K .Volatility spillover effect and dynamic correlation between regional emissions allowances and fossil energy markets: New evidence from China’s emissions trading scheme pilots[J].Energy,2019,1851314-1324.
Daskalakis G .On the efficiency of the European carbon market: New evidence from Phase II[J].Energy Policy,2013,54369-375.
Rhodes H G G I G .Liquidity and market efficiency in the world's largest carbon market[J].The British Accounting Review,2016,48(4):431-447.
Xu Minghao. Research on the effectiveness of Shenzhen carbon emissions trading market[J]. Chinese and foreign energy,2017,22(07):7-12.
Zhao Lixiang;Wang Lili. Research on the effectiveness of China's carbon trading secondary market--Taking Beijing, Shanghai, Guangdong and Hubei carbon trading markets as examples[J]. Science and technology progress and countermeasures,2018,35(13):34-40.
Pethig E T .International carbon emissions trading and strategic incentives to subsidize green energy[J].Resource and Energy Economics,2014,36(2):469-486.
SUN Rui; FANG Dan; CHANG Dongqin. Energy-economic-environmental impacts of carbon trading and the calculation of the reasonable range of carbon price[J]. China Population-Resources and Environment,2014,24(07):82-90.
ZHAO Donglin;LI Tianhong. Characteristics of carbon emission changes and analysis of influencing factors in the urbanisation process of Chinese provinces, autonomous regions (cities)[J]. Journal of Peking University (Natural Science Edition),2016,52(05):947-958.DOI:10. 13209/j.0479-8023.2016.060
Gao Xin Cai; Han Xue. Study on spatial differentiation and influencing factors of carbon emissions in the Yellow River Basin[J]. Economic Jingwei,2022,39(01):1323.DOI:10.15931/ j.cnki.1006-1096.2022.01.003
Maria D ,Thomas S ,E. J A , et al.The Promise and Problems of Pricing Carbon[J].The Journal of Environment Development,2012,21(2):152-180.
KAHN M E, MATSUSAKA J G. Demand for Environmental Goods: Evidence from Voting Patterns on California Initiatives[J/OL]. The Journal of law & economics, 1997, 40(1): 137-174. DOI:10.1086/467369.
GROSSMAN G M, KRUEGER A B. Economic Growth and the Environment[J/OL]. The Quarterly journal of economics, 1995, 110(2): 353-377. DOI:10.2307/2118443.
LI Yue-Ming,LI Xin-Fei,LI Yuanyuan et al. Analyzing the impact of foreign direct investment on carbon pollution in China based on the perspective of environmental regulation[J]. Journal of Beijing Forestry University (Social Science Edition), 2023,22(02):16-25.DOI:10.13931/j.cnki. bjufss.2022047.
Downloads
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
