Research on the Construction of China's Emission Trading System from the Perspective of Transaction Cost Theory
- DOI
- 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/).
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 - 10.2991/iserss-19.2019.128 ID - Ma2019/06 ER -