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The economic geography of European carbon market trading

The European Union Emissions Trading Scheme (EU ETS) is the world's first regional carbon trading market. This article is a quantitative attempt to examine the temporal and spatial geography of European carbon trading. We show that carbon markets are especially sensitive to two factors: staging...

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Published in:Journal of economic geography 2011-09, Vol.11 (5), p.817-841
Main Author: Knight, Eric R. W.
Format: Article
Language:English
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description The European Union Emissions Trading Scheme (EU ETS) is the world's first regional carbon trading market. This article is a quantitative attempt to examine the temporal and spatial geography of European carbon trading. We show that carbon markets are especially sensitive to two factors: staging across time (Phase I versus II of the EU ETS) and across space (energy market structures in Europe). Carbon markets serve as a vehicle to better understand the economic geography of financial markets. Building on the theoretical vocabulary of the geography of finance, the article suggests that certain national factors (market structure) and institutional factors (regulatory phases) better explain how carbon markets operate than company level differences. These findings indicate that geographers have a key role to play in highlighting the local ramifications of carbon markets if and when the world moves towards its ambition for a global carbon market.
doi_str_mv 10.1093/jeg/lbq027
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source EconLit s plnými texty; JSTOR Archival Journals and Primary Sources Collection; Oxford Journals Online
subjects Business structures
Carbon
Carbon dioxide emissions
Carbon pricing
Carbon trading
Economic geography
Economic theory
Electricity prices
Emissions trading
Energy
Financial market structures
Investors
Market prices
Market structure
Studies
title The economic geography of European carbon market trading
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