Journal
STRUCTURAL CHANGE AND ECONOMIC DYNAMICS
Volume 47, Issue -, Pages 180-193Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.strueco.2018.08.006
Keywords
Abatement cost; Building material industry; Construction industry; Shadow price
Categories
Funding
- National Natural Science Foundation of China [71871022, 71471018, 71521002, 71828401]
- Social Science Foundation of Beijing [16JDGLB013]
- Joint Development Program of Beijing Municipal Commission of Education
- Fok Ying Tung Education Foundation [161076]
- National Key RD Program [2016YFA0602603]
- International Clean Energy Talent Program of Chinese Scholarship Council
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Construction industry, together with building materials industries supplying it, is one of China's largest emitters of CO2. Structural change in construction industry has been promoted to mitigate CO2. This paper estimates CO2 shadow price of construction industry and its supporting materials industries in China so as to help them to mitigate CO2 cost-effectively. A parametric directional distance function model, taking into account all possible directional vectors, is applied to address issues regarding arbitrary selection of direction that will affect estimation of shadow price. Results show that there is larger potential for CO2 reduction in supporting material industries than in construction industry itself and shadow price of overall CO2 is much lower than that of direct CO2. The existence of enlarging heterogeneity in shadow prices among different regions provides strong support for introducing a national carbon trading market, thereby helping construction industry and building materials industries to reduce their abatement costs. (C) 2018 Elsevier B.V. All rights reserved.
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