| The rapid development of the world economy has brought serious environmental problems.As one of the most important problems,the greenhouse effect has alr eady had a significant impact on the global economy and the environment.How to achieve economic development and reduce greenhouse gas emissions has become the focus of international attention.In order to better promote global climate governance,200 countries attended the Paris climate conference in 2015,the main content of the conference is to convert compulsory emission reduction to voluntary emission reduction,emission reduction targets set by the national ownership.China actively participated in the meeting and made a commitment to reduce carb on emissions per unit GDP by 60%-65% in 2030 compared with 2005.In order to achieve this commitment,carbon trading centers were established in Beijing,Tian jin and other places in 2011,and the national carbon trading market was launched in December 2017.At the beginning of the establishment of the market,the most critical issue in the process of trading business is pricing,and reasonable pricing of trading products is the key to ensure the normal operation of the market.at this time,the internal value of the pilot carbon financial trading products is studied,the research results can be used as a reference for the national carbon mar ket trading products pricing.Therefore,this paper studies the shadow price of carbon financial trading products in China.This paper uses the method of combining theory and practice to study the sha dow price of carbon financial products in China.Firstly,this paper defines the concepts of carbon finance and carbon financial transaction products and elaborates the related theories.Secondly,it describes the status quo of carbon financial transac tion products in China from three aspects : type,transaction volume,transaction am ount and transaction price.The third part makes a theoretical analysis on the factor s affecting shadow price,such as industrial structure,scale of economic developmen t,technological progress,energy consumption structure,urbanization level and fixe d assets investment.Fourthly,taking the secondary industry of each pilot area as an object,constructing a transcendental logarithmic production function to calculate the shadow price by using a principal component analysis method,and takingthe calculated shadow price of each pilot area as an explanatory variable,and taking the aforementioned influencing factors as an explanatory variable to carry out empirical analysis on the influence degree;Finally,according to the above theoreti cal analysis and empirical results,put forward the corresponding countermeasures to the problem of high shadow price of carbon financial trading products in China's pilot areas. |
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