Can carbon emissions trading systems mitigate carbon distortion? Evidence from China,Journal of Cleaner Production

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Can carbon emissions trading systems mitigate carbon distortion? Evidence from China
Journal of Cleaner Production ( IF 9.7 ) Pub Date : 2024-07-02 , DOI: 10.1016/j.jclepro.2024.143071
Xianfang Su , Meixia Chen

This study examines the impact of CETs on reducing carbon distortion through a two-step approach. Firstly, we measure carbon distortion by treating carbon emissions as an important input factor in the Cobb-Douglas production function. Secondly, we use a staggered difference-in-differences (DID) strategy to test the impact of CETs on carbon distortion. Our research indicates that CETs significantly reduce the carbon distortion, and this mitigating effect is more significant in provinces with better ecological foundations, lower levels of urbanization, and higher levels of financial development. We also find that CETs mitigate carbon distortion by promoting the advancement of regional green financial growth and green innovation. The findings of our research have important implications for maximizing the market potential of carbon emissions trading systems and a nuanced understanding of the effectiveness of market-based mechanisms in mitigating environmental inefficiencies.

更新日期：2024-07-02

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