CEEP-BIT WORKING PAPER SERIES

 

Carbon market: Systematic risk and expectations of returns
—on the comparison analysis of the CDM and EU ETS

Bao-Jun Tang
Cheng Shen

Working Paper 49
//www.metaimitation.com/english/publications/wp/index.htm

Center for Energy and Environmental Policy Research
Beijing Institute of Technology
No.5 Zhongguancun South Street, Haidian District
Beijing 100081
January 2014

This paper can be cited as: Tang B-J, Shen C. Carbon Market: Systematic risk and Expectations of Returns—on the comparison analysis of the CDM and EU ETS. CEEP-BIT Working Paper.

This study is supported by the financial support from the National Natural Science Foundation of China under Grant No. 71273031, the Basic Research Fund of Beijing Institute of Technology in 2010 under Grant No. 20102142014, and the Doctoral Fund of Ministry of Education of China under Grant No. 20101101120040. The views expressed herein are those of the authors and do not necessarily reflect the views of the Center for Energy and Environmental Policy Research.

© 2014 by Bao-Jun Tang and Cheng Shen. All rights reserved. 

The Center for Energy and Environmental Policy Research, Beijing Institute of Technology (CEEP-BIT), was established in 2009. CEEP-BIT conducts researches on energy economics, climate policy and environmental management to provide scientific basis for public and private decisions in strategy planning and management. CEEP-BIT serves as the platform for the international exchange in the area of energy and environmental policy.
Currently, CEEP-BIT Ranks 121, top10% institutions in the field of Energy Economics at IDEAS（http://ideas.repec.org/top/top.ene.htm), and Ranks 157, top10% institutions in the field of Environmental Economics at IDEAS (http://ideas.repec.org/ top/top.env.html).
 

Yi-Ming Wei
Director of Center for Energy and Environmental Policy Research, Beijing Institute of Technology
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