Dissertation > Economic > Economic planning and management > Management of National Economy > Management of resources,environment and ecology

Certified Reduction Market Price and Its Relations Research

Author LiaoLiSha
Tutor WuZhiMing
School Hunan University
Course Finance
Keywords Clean Development Mechanism Certified Emission Reduction pricerelationship Influence factors
CLC F205
Type Master's thesis
Year 2012
Downloads 12
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Over the past20years, global climate warming caused great harm to humans,and becoming one of the most major issues Governments cooperate with.International emissions trade mechanism (IET), Joint Implementation mechanism (JI)and clean development mechanism (CDM) are three coordination mechanisms underKyoto Protocol, aiming to help each contracting state complete emission reductiontarget in flexible ways.Under the clean development mechanism, China is the largest carbon creditsupply country but lack of perfect trading mechanism and market, transaction priceshave been dominated by developed countries. Difference between Certified reduction(CER) domestic primary market and international secondary market price has beensharply exist for a long time. In this case, Analyse the market price relationshipbetween pCER and sCER, can clear the ability of reflecting supply and demand statusin the market;On this basis, Analyse the certified reduction market price factors, wecan have a more deeply understanding about the carbon price formation mechanism inour country, and has important theoretical and realistic significance.Based on this, This article combines theoretical analysis with empirical analysisto investigate market price relationship between CER market, and analyze itsinfluencing factors systematically, further puts forward perfect carbon tradingstrategy.First of all, Inspecting present market development of secondary certifiedreduction, the fluctuation and its influencing factors.Then, Focus on the domesticmarket,analyze the primary certificate reduction market. With the help ofcointegration analysis and error correction model to make empirical analysis ofmarket price relationship between CER markets. Then analyze the influence factors o fprimary CER market price systematically.Finally, based on the empirical analysis ofthe conclusion, this paper puts forward policy suggestions about improving level ofnuclear certificate reduction supply quality, establishing a perfect market mechanism,optimizing the government regulation mode, cultivating local agencies and payingattention to carbon trading the cultivation of talents development consummates forour country in carbon trade market.

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