Abstract

Global climate policies have been an effective way to promote carbon emissions reduction. Based on panel data of climate policies promulgated globallyfrom 1951 to 2018, this study compares the effectiveness of three types of climate policies, including command-and-control regulations (CCRs), market-based instruments (MBIs), and voluntary-based approaches (VBAs). Heterogeneous policy effect is revealed through comparative analysis. Further, policy mix design was explored from the perspectives of policy instrument type, policy time lag effect, policy context (policy type balance and target balance), and policy interaction effects.

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