The Economics of Energy Policy in China


The Economics of Energy Policy in China

Implications for Global Climate Change

9781858986142 Edward Elgar Publishing
ZhongXiang Zhang, Distinguished Professor, Fudan University, China
Publication Date: 1998 ISBN: 978 1 85898 614 2 Extent: 296 pp
This book is the first systematic and comprehensive analysis of the economic implications of carbon abatement for the Chinese economy. It evaluates the economics of climate change and provides national, cost-effective policies for climate change.

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This book is the first systematic and comprehensive analysis of the economic implications of carbon abatement for the Chinese economy. It evaluates the economics of climate change and provides national, cost-effective policies for climate change.

The book consists of three main parts, firstly, an analysis of the Chinese energy system to increase awareness of the implications of this sector for China’s future carbon dioxide emissions, secondly, a macroeconomic analysis of carbon dioxide emissions limits using a newly-developed computable general equilibrium model of the Chinese economy; and fianlly, a cost-effective analysis of carbon abatement options by means of a technology-oriented dynamic optimization model.

The author begins by introducing some of the economic aspects of climate change including the consequences of climate change,damage estimates of carbon dioxide emissions, strategies for responding to climate change and policy instruments to control carbon dioxide emissions. This discussion then focuses on the Chinese energy system and possible sectoral and macroeconomic effects of limiting carbon dioxide emissions. In this examination Dr Zhang considers the effects of recycling carbon tax revenues and compliance with carbon dioxide limits in China’s power industry. The author also evaluates various economic models in analyzing cost estimates for limiting carbon dioxide emissions, including an input-output approach, dynamic optimization and a computable general equilibrium approach. Finally, there is a discussion of technological aspects of carbon abatement in the Chinese power industry.

The Economics of Energy Policy in China will be of interest to energy and environmental economists and policymakers.
Critical Acclaim
‘Given the towering importance of China in world environmental planning, this book is a must read for anyone attempting to understand world climate change issues. In addition, it provides planners with a much needed reference on all aspects of the Chinese energy sector . . . The book makes a significant contribution in three main areas. First, it gives us a first class description of all the issues that are contributing to the climate change debate and puts the case of China into its proper context within that debate. Secondly, the author’s description of the Chinese energy sector in Chapter 3 is most informative and lucid. Finally, his CGE model is impressive and his model’s simulation results are quite plausible . . . I strongly recommend this book as reading material for anyone seriously interested in the public policy issues that relate to climate change. It will probably remain the definitive work on China and joint implementation for years to come.’
– Roy Boyd, Economic Systems Research

‘A great deal of information on a timely and complex area of research is packed into this well-structured and presented book. . . . the book makes a valuable contribution and is particularly welcomed as the focus of the research is China. The book will be of interest to environmental economists generally and should be on the bookshelves of anyone concerned with energy and environmental policy and development in China.’
– Ian Vickridge, China Information

‘This book is unkind to the reviewer because of its wealth of information and analysis, and because it is so genuinely well written. One can hardly do justice to Mr Zhang in the space provided in this journal. The book is an exhaustive treatment of the subject and is recommended reading for a wider audience beyond the China constituency.’
– Ulrich Bartsch, Journal of Energy Literature

‘. . . this book on the economics of energy policy in China comes at a very important time. . . . the volume is possibly the most comprehensive and rigorous economic analysis to date of China’s options and constraints in the energy area.’
– Robert Harriss, Environment

‘This work represents a pathbreaking entry into one of the most complicated aspects of contemporary energy/environmental economics. It is difficult for the reviewer, in this relatively short piece, to adequately reflect the wealth of information contained in this book and its value to the profession. For any energy or environmental economists with a serious interest in China’s future level of CO2 emissions, it should be obligatory reading.’
– Tony Owen, University of New South Wales, Australia
Contents: 1. Introduction 2. Some Economic Aspects of Climate Change 3. Analysis of the Chinese Energy System: Implications for future CO2 Emmissions 4. Economic Modelling Approaches to Cost Estimates for Limiting CO2 Emissions 5. A Computable General Equilibrium Model for Energy and Environmental Policy Analysis 6. Data, Model Calibration and Solution 7. Macroeconomic Analysis of CO2 Emission Limits for China: A CGE Approach 8. Cost-Effective Analysis of Carbon Abatement 9. Conclusions Index
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