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Covering indirect emissions mitigates market power in carbon markets: The case of South Korea

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  • Covering indirect emissions mitigates market power in carbon markets: The case of South Korea
  • Shim, Sunghee; Lee, Jiwoong
  • Multidisciplinary Digital Publishing Institute


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Title Covering indirect emissions mitigates market power in carbon markets: The case of South Korea
Similar Titles
Material Type Articles
Author(English)

Shim, Sunghee; Lee, Jiwoong

Publisher

[Basel, Switzerland]:Multidisciplinary Digital Publishing Institute

Date 2016-06
Journal Title; Vol./Issue Sustainability:vol. 8(no. 6)
Pages 11
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic System
Territorial Development < Environment
Holding MDPI

Abstract

One of the main concerns of policymakers regarding emissions trading markets is that some firms may well enjoy market power owing to their share of the emissions. This study shows that including indirect emissions within the coverage of an emissions trading scheme can help to reduce market power and thereby enhance social efficiency. In this study, the market concentration measured by the Herfindahl-Hirschman Index significantly drops after including indirect emissions in the South Korean emissions trading market. In addition, other market concentration measures are also considered to verify that the conclusion does not depend on the choice of concentration measures.