Analysis of Heterogeneity of Carbon Trading Price Influencing Factors in China's Carbon Trading Pilots: Taking China's Seven Carbon Trading Markets as an Example

Xunyang Li; Xinxin Guo

doi:10.54691/fm5wjx52

Authors

Xunyang Li
Xinxin Guo

DOI:

https://doi.org/10.54691/fm5wjx52

Keywords:

Carbon trading, PMG model, heterogeneity analysis.

Abstract

This study analyzes the influencing factors and heterogeneity of carbon trading prices (CTPs) in China's seven major carbon trading pilot markets. With the intensification of climate change issues, carbon trading has received widespread attention as an important market mechanism. Through empirical analysis of monthly data from January 2014 to December 2023 in seven pilot markets: Shenzhen, Shanghai, Beijing, Tianjin, Guangdong, Hubei and Chongqing, a dynamic heterogeneous panel PMG model was used to explore the impact of factors such as energy prices, macroeconomic activity and environmental quality on CTPs. Based on these results, this paper puts forward targeted policy recommendations, including formulating differentiated carbon trading policies, strengthening environmental governance, and deepening research on the carbon trading market, in order to promote low-carbon transformation and the stable development of the market.

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