Agent-Based Modeling of Global Carbon Trading and Its Policy Implications for China in the Post-Kyoto Era

Qianting Zhu, Keran Duan, Jing Wu and Zheng Wang

Emerging Markets Finance and Trade, 2016, vol. 52, issue 6, 1348-1360

Abstract: Carbon trading is an important component of global responses to climate change. Using agent-based modeling, this study constructs a global carbon trading model (GCTM), and simulates the effectiveness of the trading mechanism. Results show that: (1) quota allocation is the fundamental premise of carbon trading; (2) under the carbon trading mechanism, the cumulative per capita emissions of developed countries are still much higher than those in developing countries; (3) carbon trading could be an important policy choice to meet China’s future emissions targets; and (4) to maximize incomes in the long run, China can set aside part of current quotas and use them in the future.

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:52:y:2016:i:6:p:1348-1360

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DOI: 10.1080/1540496X.2016.1152794

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