我国碳金融产品价格影响因素及定价机制研究

发布时间：2018-03-30 13:00

本文选题：碳金融产品价格　切入点：影响因素　出处：《华北电力大学》2017年硕士论文

【摘要】：全球气候变暖正严重威胁人类的生存和发展,给全球经济带来不可估量的损害。如何减少温室气体排放以抑制全球气候变暖已经成为国际社会关注的焦点并得到了几乎所有国家的高度重视。国际社会通过气候谈判初步对全球变暖问题达成共识并建立了解决温室气体排放的国际制度框架。为进一步推进全球气候治理工作,2015年12月,全球近200个国家出席了巴黎气候大会,我国以积极的态度投入谈判并承诺在2030年之前达到碳排放峰值,单位GDP碳排放在2005年的基础上下降60%-65%。为实现该项承诺,我国统一碳金融市场的建立刻不容缓。目前我国正处于碳金融的试点阶段,2017年即将启动全国统一碳金融市场,此时针对全国统一碳金融市场相关问题的研究变得十分必要。其中如何对碳金融产品进行合理定价,又是整个市场正常运行的关键所在,因此,对我国碳金融产品价格影响因素及定价机制进行研究,探索其中的价格规律,意义重大。本文运用理论与实证相结合的研究方法来研究我国碳金融产品价格的影响因素及定价机制问题。论文主体首先对碳金融及碳金融产品进行概念界定,概述碳金融市场的相关情况;对碳金融产品定价机制进行分析,尝试建立一个碳金融产品定价机制的理想框架;介绍碳金融产品交易所遵循的相关经济学理论。进而从国外碳价、经济环境、能源价格及汇率变动四个角度构建我国碳金融产品的价格模型,并分别分析这些影响因素对我国碳金融产品价格的影响机理。接下来以我国碳金融产品价格为研究对象,从国外碳价、经济环境、能源价格及汇率变动四个层面,构建我国碳金融产品价格影响因素指标体系,运用VAR模型、脉冲响应函数和方差分解方法对我国碳金融产品价格影响因素进行实证分析,求出并运用价格预测检验基于影响因素的我国碳金融产品价格模型,同时了解各影响因素对我国碳金融产品价格的影响情况,包括影响过程和影响程度。最后根据我国碳金融产品定价机制的现状,分析我国目前存在的主要问题,并结合前文的理论分析及实证研究结果,对我国碳金融产品定价机制进行设计。
[Abstract]:Global warming is seriously threatening the survival and development of mankind. How to reduce greenhouse gas emissions to curb global warming has become the focus of attention of the international community and has been highly valued by almost all countries. The international community through gas. Pending the initial consensus on global warming and the establishment of an international institutional framework to address greenhouse gas emissions... in order to further advance global climate governance, in December 2015, Nearly 200 countries from around the world attended the Paris Climate Conference, and our country entered into the negotiations in a positive manner and promised to reach its peak carbon emissions by 2030, and the carbon emissions per unit of GDP fell by 60 to 65 percent from 2005. The establishment of a unified carbon finance market in China is urgent. At present, China is in the pilot stage of carbon finance, and the national unified carbon finance market will be launched in 2017. At this time, it is necessary to study the relevant problems of the national unified carbon financial market. How to price carbon finance products reasonably is the key to the normal operation of the whole market. This paper studies the influencing factors and pricing mechanism of carbon financial products in China, and probes into the price law of carbon finance products in China. This paper uses the theoretical and empirical research methods to study the influence factors and pricing mechanism of carbon finance products in China. Firstly, the paper defines the concept of carbon finance and carbon finance products. This paper summarizes the relevant situation of carbon finance market, analyzes the pricing mechanism of carbon finance products, and tries to establish an ideal framework of carbon finance product pricing mechanism. This paper introduces the relevant economic theories followed by carbon finance product exchanges, and then constructs the price model of carbon finance products in China from four angles of carbon price, economic environment, energy price and exchange rate change. And analyze the influence mechanism of these factors on the carbon finance product price of our country separately. Then take the carbon finance product price of our country as the research object, from four aspects of foreign carbon price, economic environment, energy price and exchange rate change. This paper constructs the index system of influencing factors of carbon finance product price in China, and makes an empirical analysis on the influencing factors of carbon finance product price in China by using VAR model, impulse response function and variance decomposition method. The price model of China's carbon financial products based on influencing factors is obtained and tested by price prediction, and the influence of each factor on the price of carbon finance products in China is also understood. Finally, according to the current situation of pricing mechanism of carbon financial products in China, the main problems existing in our country are analyzed, and combined with the theoretical analysis and empirical research results, The pricing mechanism of carbon finance products in China is designed.
【学位授予单位】：华北电力大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：X196;F832.5

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