Factors affecting the pilot trading market of carbon emissions in China

Abstract Climate change and carbon emissions are major problems which are attracting worldwide attention. China has had its pilot carbon emission trading markets in seven regions for more than 3 years. What affects carbon emission trading market in China is a big question. More attention is paid to...

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Autores principales:	Yong Jiang, Ya-Lin Lei, Yong-Zhi Yang, Fang Wang
Formato:	article
Lenguaje:	EN
Publicado:	KeAi Communications Co., Ltd. 2018
Materias:	Carbon emission trading market Carbon price VAR model China Science Q Petrology QE420-499
Acceso en línea:	https://doaj.org/article/a2709d9fa75e42599d05ce850e84626f
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spelling	oai:doaj.org-article:a2709d9fa75e42599d05ce850e84626f2021-12-02T07:19:17ZFactors affecting the pilot trading market of carbon emissions in China10.1007/s12182-018-0224-31672-51071995-8226https://doaj.org/article/a2709d9fa75e42599d05ce850e84626f2018-03-01T00:00:00Zhttp://link.springer.com/article/10.1007/s12182-018-0224-3https://doaj.org/toc/1672-5107https://doaj.org/toc/1995-8226Abstract Climate change and carbon emissions are major problems which are attracting worldwide attention. China has had its pilot carbon emission trading markets in seven regions for more than 3 years. What affects carbon emission trading market in China is a big question. More attention is paid to how China promotes the carbon emission trading schemes in the whole country. This paper addresses concerns about the functioning of carbon emission trading schemes in seven pilot regions and takes the weekly data from November 25, 2013, to March 19, 2017. We employ a vector autoregressive model to study how coal price, oil price and stock index have affected the carbon price in China. The results indicate that carbon price is mainly affected by its own historical price; coal price and stock index have negative effects on carbon price, while oil price has a negative effect on carbon price during the first 3 weeks and then has a positive effect on carbon price. More regulatory attention and economic measures are needed to improve market efficiency, and the mechanisms of carbon emission trading schemes should be improved.Yong JiangYa-Lin LeiYong-Zhi YangFang WangKeAi Communications Co., Ltd.articleCarbon emission trading marketCarbon priceVAR modelChinaScienceQPetrologyQE420-499ENPetroleum Science, Vol 15, Iss 2, Pp 412-420 (2018)
institution	DOAJ
collection	DOAJ
language	EN
topic	Carbon emission trading market Carbon price VAR model China Science Q Petrology QE420-499
spellingShingle	Carbon emission trading market Carbon price VAR model China Science Q Petrology QE420-499 Yong Jiang Ya-Lin Lei Yong-Zhi Yang Fang Wang Factors affecting the pilot trading market of carbon emissions in China
description	Abstract Climate change and carbon emissions are major problems which are attracting worldwide attention. China has had its pilot carbon emission trading markets in seven regions for more than 3 years. What affects carbon emission trading market in China is a big question. More attention is paid to how China promotes the carbon emission trading schemes in the whole country. This paper addresses concerns about the functioning of carbon emission trading schemes in seven pilot regions and takes the weekly data from November 25, 2013, to March 19, 2017. We employ a vector autoregressive model to study how coal price, oil price and stock index have affected the carbon price in China. The results indicate that carbon price is mainly affected by its own historical price; coal price and stock index have negative effects on carbon price, while oil price has a negative effect on carbon price during the first 3 weeks and then has a positive effect on carbon price. More regulatory attention and economic measures are needed to improve market efficiency, and the mechanisms of carbon emission trading schemes should be improved.
format	article
author	Yong Jiang Ya-Lin Lei Yong-Zhi Yang Fang Wang
author_facet	Yong Jiang Ya-Lin Lei Yong-Zhi Yang Fang Wang
author_sort	Yong Jiang
title	Factors affecting the pilot trading market of carbon emissions in China
title_short	Factors affecting the pilot trading market of carbon emissions in China
title_full	Factors affecting the pilot trading market of carbon emissions in China
title_fullStr	Factors affecting the pilot trading market of carbon emissions in China
title_full_unstemmed	Factors affecting the pilot trading market of carbon emissions in China
title_sort	factors affecting the pilot trading market of carbon emissions in china
publisher	KeAi Communications Co., Ltd.
publishDate	2018
url	https://doaj.org/article/a2709d9fa75e42599d05ce850e84626f
work_keys_str_mv	AT yongjiang factorsaffectingthepilottradingmarketofcarbonemissionsinchina AT yalinlei factorsaffectingthepilottradingmarketofcarbonemissionsinchina AT yongzhiyang factorsaffectingthepilottradingmarketofcarbonemissionsinchina AT fangwang factorsaffectingthepilottradingmarketofcarbonemissionsinchina
_version_	1718399469047775232

Factors affecting the pilot trading market of carbon emissions in China

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