Proceedings of the 2nd International Seminar on Education Research and Social Science (ISERSS 2019)

Research on the Construction of China's Emission Trading System from the Perspective of Transaction Cost Theory

Authors
Yongteng Ma, Xiaoyong Zhang
Corresponding Author
Yongteng Ma
Available Online June 2019.
DOI
https://doi.org/10.2991/iserss-19.2019.128How to use a DOI?
Keywords
transaction cost theory, emission trading, system construction
Abstract

China's pollutant discharge management is based on the current government-led administrative approval system. Although some regions have carried out the pilot work of emission trading, they have not formed a legal basis and a system of standardization and haven't been promoted. The purpose of this paper is to analyze the causes and design and construct the framework of China's emissions trading system. Firstly, the resource allocation efficiency of emission trading is analyzed from the micro-economic point of view, and the total transaction cost is analyzed by the dynamic analysis method. Then the obstacle principle of system implementation is found. Although the establishment of a market with clear property rights contributes to the reduction of total transaction costs, the rapid increase of government transaction costs in the short term has affected the implementation of the system. The conclusion is that the government should bear the short-term cost, and use the electronic trading system and establish a broad market with a wide range of participants to reduce the operating cost of the system, so as to achieve the promotion and effective operation of the emission trading system.

Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 2nd International Seminar on Education Research and Social Science (ISERSS 2019)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
June 2019
ISBN
978-94-6252-736-2
ISSN
2352-5398
DOI
https://doi.org/10.2991/iserss-19.2019.128How to use a DOI?
Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Yongteng Ma
AU  - Xiaoyong Zhang
PY  - 2019/06
DA  - 2019/06
TI  - Research on the Construction of China's Emission Trading System from the Perspective of Transaction Cost Theory
BT  - Proceedings of the 2nd International Seminar on Education Research and Social Science (ISERSS 2019)
PB  - Atlantis Press
SP  - 300
EP  - 303
SN  - 2352-5398
UR  - https://doi.org/10.2991/iserss-19.2019.128
DO  - https://doi.org/10.2991/iserss-19.2019.128
ID  - Ma2019/06
ER  -