摘要
碳金融市场作为低碳经济发展的助推器,在限制温室气体排放过程中发挥着积极作用,碳其发展效率直接影响着低碳经济的快速和双碳目标的顺利实现。据此,基于中国八个试点碳市场历史数据,采用随机前沿分析法,对碳金融市场有效性展开实证分析,具有重要意义。研究结果表明:(1)中国碳金融市场整体呈弱势有效水平,各个试点的碳金融市场效率呈逐年增长趋势,有效性在不断提高,但效率改善幅度呈逐年收窄趋势;(2)在八大试点碳市场中,湖北、重庆综合效率居前,北京、福建偏低;(3)从技术进步与规模经济影响程度来看,各试点技术水平利用率在逐年上升,规模经济处于不稳定的态势,且存在着一定的风险。基于上述结论,认为应逐步改变“政策市”的现状,促进碳金融市场“市场化”发展;完善碳金融市场信息披露制度,缓解市场信息不对称,降低洗“绿”风险;加强碳金融衍生产品的研发,丰富碳市场产品种类,提高市场交易活跃度。
As a booster of low-carbon economic development,the carbon financial market plays an active role in the process of limiting greenhouse gas emissions.The development efficiency of carbon directly affects the rapid development of low-carbon economy and the smooth realization of dual-carbon goals.Accordingly,based on the historical data of the eight pilot carbon markets in China,it is of great significance to conduct an empirical analysis of the effectiveness of the carbon financial market by using the stochastic frontier analysis method.The research results show that:(1)China’s carbon finance market as a whole is at a weak and effective level,and the efficiency of each pilot carbon finance market is increasing year by year;(2)Among the pilot carbon markets,the overall efficiency of Hubei and Chongqing ranks first,while that of Beijing and Fujian is relatively low;(3)From the perspective of technological progress and the impact of economies of scale,the utilization rate of each pilot technology level is increasing year by year,and economies of scale are in an unstable situation,and there are certain risks.Based on the above conclusions,it is believed that the status quo of the"policy market"should be gradually changed to promote the"market-oriented"development of the carbon financial market,improve the carbon financial market information disclosure system to alleviate market information asymmetry and reduce the risk of"greenwashing",strengthen carbon financial derivatives Product research and development,enrich the types of carbon market products and increase the activity of market transactions.
作者
于晓晖
YU Xiao-hui(School of Applied Economics,Guangdong Baiyun University,Guangzhou 510550,Guangdong,China)
出处
《黔南民族师范学院学报》
2023年第3期113-120,共8页
Journal of Qiannan Normal University for Nationalities
基金
国家自然科学基金项目“基于藤Copula-GARCH与时变Levy过程的多重货币期权定价的蒙特卡罗模拟方法研究”(71171168)
广东省教育厅创新强校项目“广东金融支持实体经济增长:供需分析、效率评价与制度反思”(2017WTSCX122)
广东白云学院校级重点科研项目“广东省中小企业融资困境与化解路径选择”(2020BYKY07)阶段性成果。
关键词
碳金融
低碳经济
随机前沿分析
有效性
carbon finance
low-carbon economy
stochastic frontier analysis
effectiveness
