A comparison of the operation of China's carbon trading market and energy market and their spillover effects

溢出效应 碳市场 中国 能源市场 碳纤维 业务 能量(信号处理) 产业组织 自然资源经济学 经济 环境经济学 微观经济学 可再生能源 工程类 温室气体 材料科学 数学 地理 生态学 考古 复合数 复合材料 生物 电气工程 统计
作者
Xiang Song,Dingyu Wang,Xuantao Zhang,Yuan He,Yong Wang
出处
期刊:Renewable & Sustainable Energy Reviews [Elsevier BV]
卷期号:168: 112864-112864 被引量:43
标识
DOI:10.1016/j.rser.2022.112864
摘要

This study measures the liquidity and volatility of the operation of the carbon trading and energy markets using liquidity ratio indicators and log return indicators. It adopts China's carbon trading and energy markets as the research objects, and evaluates the mean spillover effects and volatility spillover effects between the two using the vector autoregression (VAR) model and the BEKK-MGARCH model. The findings indicate that: (1) The liquidity of China's carbon trading market is better than that of the energy market. The average liquidity ratio of the Hubei and Shenzhen carbon trading markets is much lower than that of the coal market, 43016.131. It may be attributed to the fact that China's carbon trading market is currently small and easy to regulate. (2) The volatility of both the Chinese carbon trading market and energy market is small, and the absolute values of the mean log return rate are close to 0. It could be because China's carbon trading market is mainly distributed through free quota allocation, while the energy market has been mature and stable for many years. (3) There is a spillover effect between the carbon trading and energy markets in some parts of China, but the direction and degree of spillover effect vary, which may be due to differences in the economic development level, energy consumption structure, and environmental policies of each pilot carbon trading region. (4) The spillover effect between the two markets is stronger, perhaps due to China's current model of using coal as the main fuel. • Use the VAR and BEKK-MGARCH models to evaluate the spillover effect. • The liquidity of China's carbon trading market is better than the energy market. • The volatility of both the Chinese carbon trading and energy markets is small. • Spillover effects exist between China's carbon trading and energy markets.
最长约 10秒,即可获得该文献文件

科研通智能强力驱动
Strongly Powered by AbleSci AI
更新
PDF的下载单位、IP信息已删除 (2025-6-4)

科研通是完全免费的文献互助平台,具备全网最快的应助速度,最高的求助完成率。 对每一个文献求助,科研通都将尽心尽力,给求助人一个满意的交代。
实时播报
斯文败类应助超帅凡阳采纳,获得10
1秒前
1秒前
Owen应助四月采纳,获得20
1秒前
Quinna发布了新的文献求助10
2秒前
在水一方应助温柔映阳采纳,获得200
2秒前
3秒前
眯眯眼的芷天完成签到,获得积分10
3秒前
ZJH完成签到,获得积分20
3秒前
4秒前
思源应助Keyl采纳,获得10
5秒前
万能图书馆应助故晨采纳,获得10
6秒前
6秒前
爆米花应助excellent采纳,获得10
6秒前
8秒前
9秒前
彬彬完成签到,获得积分10
9秒前
blank发布了新的文献求助10
10秒前
10秒前
11秒前
沈彬彬发布了新的文献求助10
12秒前
Rondab应助松松采纳,获得10
12秒前
akihi关注了科研通微信公众号
12秒前
18幺八发布了新的文献求助10
12秒前
13秒前
13秒前
13秒前
luhan完成签到,获得积分10
13秒前
13秒前
虎虎虎完成签到,获得积分10
14秒前
搜集达人应助幼汁汁鬼鬼采纳,获得10
14秒前
英姑应助康康采纳,获得10
15秒前
深水鱼完成签到,获得积分10
15秒前
YY完成签到 ,获得积分10
16秒前
黄黄发布了新的文献求助10
17秒前
excellent发布了新的文献求助10
17秒前
充电宝应助leez采纳,获得10
18秒前
assd发布了新的文献求助10
18秒前
963完成签到,获得积分10
18秒前
Wrasul完成签到 ,获得积分10
18秒前
19秒前
高分求助中
A new approach to the extrapolation of accelerated life test data 1000
Economic Geography and Public Policy 900
ACSM’s Guidelines for Exercise Testing and Prescription, 12th edition 500
‘Unruly’ Children: Historical Fieldnotes and Learning Morality in a Taiwan Village (New Departures in Anthropology) 400
Indomethacinのヒトにおける経皮吸収 400
Phylogenetic study of the order Polydesmida (Myriapoda: Diplopoda) 370
基于可调谐半导体激光吸收光谱技术泄漏气体检测系统的研究 350
热门求助领域 (近24小时)
化学 材料科学 医学 生物 工程类 有机化学 生物化学 物理 内科学 纳米技术 计算机科学 化学工程 复合材料 遗传学 基因 物理化学 催化作用 冶金 细胞生物学 免疫学
热门帖子
关注 科研通微信公众号,转发送积分 3988786
求助须知:如何正确求助?哪些是违规求助? 3531116
关于积分的说明 11252493
捐赠科研通 3269766
什么是DOI,文献DOI怎么找? 1804771
邀请新用户注册赠送积分活动 881870
科研通“疑难数据库(出版商)”最低求助积分说明 809021