Assessment of impacts of Hubei Pilot emission trading schemes in China – A CGE-analysis using TermCO2 model
Yang Yu and
Applied Energy, 2017, vol. 189, issue C, 762-769
Among the seven Pilot Emission Trading Schemes (ETS) in China, the ETS in Hubei province exerts significant influences. And Hubei’s economic and social contexts are very similar to China as a whole. By applying a Chinese multi-regional general equilibrium model (TermCO2), this paper simulates the economic and environmental impacts of the Hubei Pilot ETS, under a scenario based on the institutional factors of this Pilot ETS and careful consideration is given to ETS coverage. The results show that the Hubei Pilot ETS has significantly reduced carbon emission while its adverse impact on economy is relatively negligible. The carbon emission of Hubei in 2014 is reduced by 1.00% (6.98 million tons) at an average carbon price of 34.31 Yuan per ton. However, the provincial GDP only declines slightly by 0.06% (1.48 billion Yuan) and the average GDP loss is 212.09 Yuan per ton. Meanwhile, Hubei’s economic structure has been adjusted, and the provincial employment and investment rate decreases by 0.09% and 0.33% respectively. However, due to income distribution effect caused by free allowances, the provincial household consumption increases by 0.35% and the consumer price index (CPI) increases slightly by about 0.02%.
Keywords: Hubei; Pilot ETS; TermCO2 model; Economic and environmental impacts (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:189:y:2017:i:c:p:762-769
Ordering information: This journal article can be ordered from
http://www.elsevier. ... 405891/bibliographic
Access Statistics for this article
Applied Energy is currently edited by J. Yan
More articles in Applied Energy from Elsevier
Series data maintained by Dana Niculescu ().