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ID: 133215

Beyond pure offsetting: assessing options to generate Net-Mitigation-Effects in carbon market mechanisms / Warnecke, Carsten; Wartmann, Sina; Hohne, Niklas; Blok, Kornelis

Hohne, Niklas	Journal Article
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Publication

2014.

Summary/Abstract

The current project-based carbon market mechanisms such as the Clean Development Mechanism (CDM) and the Joint Implementation (JI) do not have a direct impact on global greenhouse gas emission levels, because they only replace or offset emissions. Nor do they contribute to host country×s national greenhouse gas emission reduction targets. Contributions to net emission reductions in host countries is likely to become mandatory in new mechanisms under development such as in the framework for various approaches, a new market-based mechanism and even in a reformed JI. This research analysed the question if approaches for carbon market-based mechanisms exist that allow the generation of net emission reductions in host countries while keeping project initiation attractive. We present a criteria-based assessment method and apply it for four generic options in existing mechanisms and derive implications for future mechanism frameworks. We identified the application of "discounts" on the amount of avoided emissions for the issuance of carbon credits and "standardisation below business as usual" as most promising options over "limiting the crediting period" and "over-conservativeness". We propose to apply these options differentiated over project types based on internal rate of return to ensure cost-efficiency and attractiveness.

Key Words

Economics ; Energy Market ; Cost Efficiency ; Greenhouse Gas Emission ; Clean Development Mechanism ; New market-based mechanism ;
Net-Mitigation-Effect ; Project based Mechanism ; Joint Implementation

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ID: 092829

Exogenous factors affecting the cost efficiency of power genera / Chang, Dong-Shang; Chen, Yi-Tui; Chen, Wen-Den

Chang, Dong-Shang	Journal Article
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Publication

2009.

Summary/Abstract

This paper employs a stochastic frontier analysis (SFA) to examine cost efficiency and scale economies in Taiwan Power Company (TPC) by using the panel data covering the period of 1995-2006. In most previous studies, the efficiency estimated by the Panel Data without testing the endogeneity may bring about a biased estimator resulting from the correlation between input and individual effect. A Hausman test is conducted in this paper to examine the endogeneity of input variables and thus an appropriate model is selected based on the test result. This study finds that the power generation executes an increasing return to scale across all the power plants based on the pooled data. We also use installed capacity, service years of the power plant, and type of fuel as explanatory variable for accounting for the estimated cost efficiency of each plant by a logistic regression model to examine the factor affecting the individual efficiency estimates. The results demonstrate that the variable of installed capacity keeps a positive relationship with cost efficiency while the factor of working years has a negative relationship.

Key Words

Cost Efficiency ; Scale Economies ; Stochastic Frontier Analysis

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ID: 081897

Has minority foreign investment in China's banks improved their / Laurenceson, James; Qin, Fengming

Laurenceson, James	Journal Article
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Publication

2008.

Summary/Abstract

Since 2001, foreign investors have been permitted to acquire minority ownership stakes in China's banks. This paper assesses whether there is any evidence of a cost efficiency payoff in those banks that have taken on foreign investment. Data envelopment analysis is first used to generate measures of cost efficiency for China's banks over the period 2001-2006. A second stage regression is then performed to determine whether foreign investment has an impact on cost efficiency. The results indicate a positive relationship, although one that is not statistically significant. Policy implications are discussed

Key Words

China ; Foreign investment ; Banking ; Cost Efficiency

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