Abstract
ABSTRACT This paper argues against the claim by Chinese government officials and some scholars that China’s carbon emission trading scheme is market-driven. It finds that, in contrast to carbon markets that are characteristic of the marketization model, China’s carbon markets are led by the state, and the market mechanism plays a limited role at best. Consequently, China’s carbon markets are overwhelmingly challenged by a number of factors. These include the low efficiency of resource allocation, questionable market fairness, rent-seeking, and corruption. This paper argues that the state-led mechanism is not conducive to China’s green transition unless a market system is introduced.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
