Research on the efficiency of carbon trading market in China

Research on the efficiency of carbon trading market in China In 2014, China proposed medium and long-term low carbon development goals in China-U.S. Joint Statement on Climate Change that the emission of carbon dioxide would reach its peak and the proportion of non-fossil energy accounted for the primary energy consumption would increase to 20% in 2030. In order to achieve these goals, the unified carbon emission trading system should be put into effect by 2017, the implementation of the unified carbon emission trading system depends on the effectiveness of the current carbon trading market in China. On the basis of the effective market theory and fair game model, the unit root test and the run test are developed to analyze the carbon emission market of four representative cities in China. The results show that (1) the carbon trading market in China has only achieved weak efficiency, while the semi strong efficiency and the strong efficiency have not been reached; (2) with the expansion of the market scale, the increase of trading volume, the carbon trading market would converge from the state of inefficiency to weak form efficiency gradually, and the carbon trading market in China shows signs of restoring market efficiency. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Renewable and Sustainable Energy Reviews Elsevier

Research on the efficiency of carbon trading market in China

Loading next page...
 
/lp/elsevier/research-on-the-efficiency-of-carbon-trading-market-in-china-hpy2hLqbzC
Publisher
Elsevier
Copyright
Copyright © 2017 Elsevier Ltd
ISSN
1364-0321
D.O.I.
10.1016/j.rser.2017.05.034
Publisher site
See Article on Publisher Site

Abstract

In 2014, China proposed medium and long-term low carbon development goals in China-U.S. Joint Statement on Climate Change that the emission of carbon dioxide would reach its peak and the proportion of non-fossil energy accounted for the primary energy consumption would increase to 20% in 2030. In order to achieve these goals, the unified carbon emission trading system should be put into effect by 2017, the implementation of the unified carbon emission trading system depends on the effectiveness of the current carbon trading market in China. On the basis of the effective market theory and fair game model, the unit root test and the run test are developed to analyze the carbon emission market of four representative cities in China. The results show that (1) the carbon trading market in China has only achieved weak efficiency, while the semi strong efficiency and the strong efficiency have not been reached; (2) with the expansion of the market scale, the increase of trading volume, the carbon trading market would converge from the state of inefficiency to weak form efficiency gradually, and the carbon trading market in China shows signs of restoring market efficiency.

Journal

Renewable and Sustainable Energy ReviewsElsevier

Published: Nov 1, 2017

References

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Elsevier, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create lists to
organize your research

Export lists, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off