碳配额免费分配法下寻租对市场运行效率影响

在强制碳减排政策下,企业希望通过寻租等手段逃避减排责任的动机强烈,而现行的环境规制为政府和企业提供了过多的寻租空间.构建基于SWARM的碳交易市场仿真模型,模拟不同寻租环境下碳交易市场排放权交易,从流动性、波动性、有效性三个方面衡量市场运行效率,考察碳排放权免费分配方式下,不同寻租环境对碳交易市场运行效率的影响.研究结果表明,寻租行为会通过改变初始配额的分配总量和结构,影响碳交易市场的流动性和有效性,但对市场价格波动没有显著作用.寻租行为对市场运行效率"不降反升"的影响反映出初始配额免费分配法并不能达到最优的资源配置.减少政府对碳交易市场的干预,从免费分配方式向定价出售或拍卖方式过渡,不仅能明确价格信号,提高能源的使用效率,还能从源头上切断企业寻租的可能性.

Study on the effect of rent-seeking on carbon emission trading market performance under free carbon emission allowances

Current mandatory carbon reduction policies and environmental regulation provides too much space for both government and enterprises to seek rent, which also generates a strong intention of enterprises to avoid emission reduction responsibilities through rent-seeking behavior. Based on the SWARM model of carbon emission trading (CET) market, we simulated emissions trading in CET market in different rent-seeking scenarios. This paper studied on the effect of different rent-seeking scenarios in free carbon emission allowances distribution system on the operation efficiency of CET market through market liquidity, volatility and effectiveness. The results prove that rent-seeking affects liquidity and effectiveness of CET market while it has no significant impact on the market price fluctuations. The positive, rather than negative impact of rent-seeking on market efficiency reflects that the initial allocated free carbon allowance cannot realize optimal allocation of resources in free market. Reducing the government's intervention on CET market and changing the distribution system from free emission allowance to fixed-price or auction mechanism will not only strengthen price signals and improve energy utilization efficiency, but also cut off the possibilities of rent-seeking behavior at the source.