{"title":"中国主要城市工业部门二氧化碳影子价格的自举评估","authors":"Mian Yang, Jiangchuan Xu, Menghan Li, Hongbo Duan","doi":"10.1142/s2010007821500159","DOIUrl":null,"url":null,"abstract":"This study constructs a modified assessment model based on the bootstrap method to estimate the CO2 shadow prices for 35 typical cities’ industrial sectors in China from 2005 to 2018. Based on data from China’s seven pilot regional carbon markets, we evaluate the current CO2 trading price distortions. The empirical results indicate that during the study period, the average CO2 shadow price for the target cities is 1915.86 yuan per tonne, decreasing to 1880.57 yuan per tonne when using the bootstrap method for bias correction. The overall trends of CO2 shadow prices in most key cities are increasing given the strengthening of environmental regulations following the 11th Five-Year Plan. In addition, compared with the CO2 shadow prices in this paper, carbon trading prices in pilot cities present significantly negative distortions, which may fail to reflect the real opportunity cost of carbon abatement. Based on the findings of this study, several policy recommendations are proposed.","PeriodicalId":45922,"journal":{"name":"Climate Change Economics","volume":"20 1","pages":""},"PeriodicalIF":2.3000,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"A BOOTSTRAP ASSESSMENT OF THE SHADOW PRICES OF CO2 FOR THE INDUSTRIAL SECTOR IN CHINA’S KEY CITIES\",\"authors\":\"Mian Yang, Jiangchuan Xu, Menghan Li, Hongbo Duan\",\"doi\":\"10.1142/s2010007821500159\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This study constructs a modified assessment model based on the bootstrap method to estimate the CO2 shadow prices for 35 typical cities’ industrial sectors in China from 2005 to 2018. Based on data from China’s seven pilot regional carbon markets, we evaluate the current CO2 trading price distortions. The empirical results indicate that during the study period, the average CO2 shadow price for the target cities is 1915.86 yuan per tonne, decreasing to 1880.57 yuan per tonne when using the bootstrap method for bias correction. The overall trends of CO2 shadow prices in most key cities are increasing given the strengthening of environmental regulations following the 11th Five-Year Plan. In addition, compared with the CO2 shadow prices in this paper, carbon trading prices in pilot cities present significantly negative distortions, which may fail to reflect the real opportunity cost of carbon abatement. Based on the findings of this study, several policy recommendations are proposed.\",\"PeriodicalId\":45922,\"journal\":{\"name\":\"Climate Change Economics\",\"volume\":\"20 1\",\"pages\":\"\"},\"PeriodicalIF\":2.3000,\"publicationDate\":\"2021-11-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Climate Change Economics\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1142/s2010007821500159\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"0\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Climate Change Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1142/s2010007821500159","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"0","JCRName":"ECONOMICS","Score":null,"Total":0}
A BOOTSTRAP ASSESSMENT OF THE SHADOW PRICES OF CO2 FOR THE INDUSTRIAL SECTOR IN CHINA’S KEY CITIES
This study constructs a modified assessment model based on the bootstrap method to estimate the CO2 shadow prices for 35 typical cities’ industrial sectors in China from 2005 to 2018. Based on data from China’s seven pilot regional carbon markets, we evaluate the current CO2 trading price distortions. The empirical results indicate that during the study period, the average CO2 shadow price for the target cities is 1915.86 yuan per tonne, decreasing to 1880.57 yuan per tonne when using the bootstrap method for bias correction. The overall trends of CO2 shadow prices in most key cities are increasing given the strengthening of environmental regulations following the 11th Five-Year Plan. In addition, compared with the CO2 shadow prices in this paper, carbon trading prices in pilot cities present significantly negative distortions, which may fail to reflect the real opportunity cost of carbon abatement. Based on the findings of this study, several policy recommendations are proposed.
期刊介绍:
Climate Change Economics (CCE) publishes theoretical and empirical papers devoted to analyses of mitigation, adaptation, impacts, and other issues related to the policy and management of greenhouse gases. CCE is specifically devoted to papers in economics although it is understood that authors may need to rely on other fields for important insights. The journal is interested in papers examining the issue at every scale from local to global and papers from around the world are encouraged. CCE is also interested in both original research and review papers and welcomes comments discussing previous articles.