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China's New National Carbon Market

Author

Listed:
  • William A. Pizer
  • Xiliang Zhang

Abstract

On December 19, 2017, China announced the official start of its national emissions trading system (ETS) construction program. When fully implemented, this program will more than double the volume of worldwide carbon dioxide emissions covered by either tax or tradable permit policy. Many of program's design features reflect those of China's pilot programs but differ from those of most emissions trading programs in the United States and Europe. This paper explains the context and design of China's new carbon market, discusses implications and possible modifications, and suggests topics for further research.

Suggested Citation

  • William A. Pizer & Xiliang Zhang, 2018. "China's New National Carbon Market," AEA Papers and Proceedings, American Economic Association, vol. 108, pages 463-467, May.
    • Handle: RePEc:aea:apandp:v:108:y:2018:p:463-67
    Note: DOI: 10.1257/pandp.20181029
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    File URL: https://www.aeaweb.org/doi/10.1257/pandp.20181029
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    Citations

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    Cited by:

    1. Wang, Banban & Pizer, William A. & Munnings, Clayton, 2022. "Price limits in a tradable performance standard," Journal of Environmental Economics and Management, Elsevier, vol. 116(C).
    2. Zhang, Hongyu & Zhang, Da & Zhang, Xiliang, 2023. "The role of output-based emission trading system in the decarbonization of China's power sector," Renewable and Sustainable Energy Reviews, Elsevier, vol. 173(C).
    3. Chang, Shiyan & Yang, Xi & Zheng, Haotian & Wang, Shuxiao & Zhang, Xiliang, 2020. "Air quality and health co-benefits of China's national emission trading system," Applied Energy, Elsevier, vol. 261(C).
    4. Goulder, Lawrence H. & Long, Xianling & Lu, Jieyi & Morgenstern, Richard D., 2022. "China's unconventional nationwide CO2 emissions trading system: Cost-effectiveness and distributional impacts," Journal of Environmental Economics and Management, Elsevier, vol. 111(C).

    More about this item

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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