China's New National Carbon Market
AbstractOn 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.
CitationPizer, William A., and Xiliang Zhang. 2018. "China's New National Carbon Market." AEA Papers and Proceedings, 108: 463-67. DOI: 10.1257/pandp.20181029
- H23 Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- O13 Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
- P28 Socialist Systems and Transitional Economies: Natural Resources; Energy; Environment
- Q54 Climate; Natural Disasters and Their Management; Global Warming
- Q58 Environmental Economics: Government Policy