Policy effectiveness of market-oriented energy reform: Experience from China energy-consumption permit trading scheme

Shuai Che and Jun Wang

Energy, 2022, vol. 261, issue PB

Abstract: As an institutional innovation in the market-oriented reform of China's energy sector, the policy effect of energy consumption license transaction (ECPT) is still lack of research. The pilot provinces of energy market-oriented reform are relatively scattered. Therefore, this paper aims to evaluate the spillover effect and regional differences of ECPT, so as to make up for the lack of research on China's market-oriented energy reform. Results show that ECPT has inhibitory effects on energy consumption and energy intensity. In addition, ECPT can reduce energy consumption and energy intensity in neighboring areas. The policy effect of ECPT shows the characteristics of strengthening with the evolution of time. Foreign trade, industrial structure and technological progress are the paths for ECPT policies to promote energy transformation. The implementation effect of ECPT shows significant regional differences, which has a significant role in promoting the energy transformation of Henan and Sichuan. Therefore, the central government must ensure the continuity of energy market-oriented reforms to release long-term policy dividends. Pilot provinces should not only play the role of domestic regional energy-saving cooperation, but also strengthen foreign trade and technological innovation to promote energy transformation.

Keywords: Energy-consumption permit; Energy consumption; Energy intensity; Energy structure; Spatial differences (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:261:y:2022:i:pb:s0360544222022368

DOI: 10.1016/j.energy.2022.125354

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