Price Determinants in China's Pilot Carbon Markets

被引：0
|
作者：
Zeng, Qingzi [1 ]
Liu, Wenxin [1 ]
Cao, Ruolin [1 ]
Shen, Xiaoqing [1 ]
Guo, Kun [2 ,3 ,4 ]
机构：
[1] China Univ Polit Sci & Law, Sch Business, Beijing, Peoples R China
[2] Chinese Acad Sci, Res Ctr Fictitious Econ & Data Sci, Beijing, Peoples R China
[3] Univ Chinese Acad Sci, Sch Econ & Management, Beijing, Peoples R China
[4] Chinese Acad Sci, Key Lab Big Data Min & Knowledge Management, Beijing, Peoples R China
来源：
2017 4TH INTERNATIONAL CONFERENCE ON INDUSTRIAL ECONOMICS SYSTEM AND INDUSTRIAL SECURITY ENGINEERING (IEIS) | 2017年
基金：
中国国家自然科学基金;
关键词：
carbon market; VECM; cointegration test;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines the determinants of carbon price in Hubei carbon market using VECM model. Six factors from three dimensions (international carbon price, energy price and exchange rate) are taken into account, both cointegration test and impulse response analysis are conducted to examine the long-run relationship and dynamic reaction of chosen variables. The result shows that long-run equilibrium exists among carbon price, energy price and dollar exchange rate. Innovations from EUAs, coal, natural gas and dollar exchange rate have negative influence on carbon price in the short-run, while innovations from crude and CERs will lead to positive responses.
引用
收藏
页数：6
相关论文
共 50 条
  • [21] The Evolution of Price Dispersion in China's Passenger Car Markets
    Yu, Linhui
    Lu, Jiangyong
    Luo, Pinliang
    WORLD ECONOMY, 2013, 36 (07): : 947 - 965
  • [22] Influence of cultural factors on price clustering and price resistance in China's stock markets
    Cai, Bill M.
    Cai, Charlie X.
    Keasey, Kevin
    ACCOUNTING AND FINANCE, 2007, 47 (04): : 623 - 641
  • [23] SOCIAL DETERMINANTS OF PRICE IN SEVERAL AFRICAN MARKETS
    DEAN, ER
    ECONOMIC DEVELOPMENT AND CULTURAL CHANGE, 1963, 11 (03) : 239 - 256
  • [24] Point and interval forecasting for carbon trading price: a case of 8 carbon trading markets in China
    Zhao, Yihang
    Zhao, Huiru
    Li, Bingkang
    Wu, Boxiang
    Guo, Sen
    ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH, 2023, 30 (17) : 49075 - 49096
  • [25] Point and interval forecasting for carbon trading price: a case of 8 carbon trading markets in China
    Yihang Zhao
    Huiru Zhao
    Bingkang Li
    Boxiang Wu
    Sen Guo
    Environmental Science and Pollution Research, 2023, 30 : 49075 - 49096
  • [26] Similarity and heterogeneity of price dynamics across China's regional carbon markets: A visibility graph network approach
    Fan, Xinghua
    Li, Xuxia
    Yin, Jiuli
    Tian, Lixin
    Liang, Jiaochen
    APPLIED ENERGY, 2019, 235 : 739 - 746
  • [27] The effect of global oil price shocks on China's metal markets
    Zhang, Chuanguo
    Tu, Xiaohua
    ENERGY POLICY, 2016, 90 : 131 - 139
  • [28] The impact of trading mechanism of China's stock markets on the price formation
    Yu, YW
    Proceedings of the 2005 International Conference on Management Science and Engineering, 2005, : 988 - 993
  • [29] The Information Spillover among the Carbon Market, Energy Market, and Stock Market: A Case Study of China's Pilot Carbon Markets
    Yao, Yi
    Tian, Lixin
    Cao, Guangxi
    SUSTAINABILITY, 2022, 14 (08)
  • [30] Spillover effect among independent carbon markets: evidence from China’s carbon markets
    Yaxue Yan
    Weijuan Liang
    Banban Wang
    Xiaoling Zhang
    Economic Change and Restructuring, 2023, 56 : 3065 - 3093
12345