Using a world multi-sectoral, multi-regional trade model, this paper has investigated the economic and environmental implications of climate control coalitions cooperating on R&D investment that triggers low cost environmentally friendly technologies. We start with the Kyoto scenario where all...

Given that China is already the world’s largest carbon emitter and its emissions continue to rise rapidly in line with its industrialization and urbanization, there is no disagreement that China eventually needs to take on binding greenhouse gas emissions caps. However, the key challenges are...

This is an invited discussion on the Morozova and Stuart’s paper “The Size of the Carbon Market Study”. It suggests a number of issues for consideration in appropriately estimating the size of carbon markets. They include Annex 1 (industrialised) countries’ baseline emissions;...

Crude oil prices have been fluctuating over time and by a large range. It is the disorganization of oil price series that makes it difficult to deduce the changing trends of oil prices in the middle- and long-terms and predict their price levels in the short-term. Following a price-state...

With the already huge and growing amount of greenhouse gas emissions and a great deal of low-cost abatement options available, China is widely expected as the world’s number one host country of clean development mechanism (CDM) projects. But, making this potential a reality represents a...

The concept of international tradable carbon permits has been discussed in scientific circles for over ten years. Since mid 1996, however, it has become a subject of more than just academic interest. The main reason for this change is to be found in the U.S. Draft Protocol to the Framework...

The Europe Union is about to lunch the world’s first greenhouse gas emissions trading scheme in history. This represents an enormous challenge because there is no previous experience with such an unprecedented scheme, and because its final outcome might shape the design of future environmental...

A considerable body of economic literature shows the adverse economic impacts of oil-price shocks for the developed economies. However, there has been a lack of empirical study of this kind on China and other developing countries. This paper attempts to fill this gap by answering how and to what...

The climate-trade nexus has become the focus of academic debate, and has gained increasing attention as governments are taking great efforts to forge a post-2012 climate change regime to succeed the Kyoto Protocol. With concerns about their own competitiveness and growing greenhouse gas...

The U.S. and China are the world’s largest and second largest CO2 emitters, respectively, and to what extent the U.S. and China get involved in combating global climate change is extremely important both for lowering compliance costs of climate mitigation and adaptation and for moving...