气候变化领域集成服务门户(CCPortal): How do climate risks impact the contagion in China's energy market?

CCPortal

DOI	10.1016/j.eneco.2024.107450
	How do climate risks impact the contagion in China's energy market?
	Guo, Kun; Kang, Yuxin; Ma, Dandan; Lei, Lei
发表日期	2024
ISSN	0140-9883
EISSN	1873-6181
起始页码	133
卷号	133
英文摘要	Energy security is a critical facet of national security, especially in energy-importing countries, and significant fluctuations in the energy market can profoundly influence the real economy. With the intensification of global climate change, extreme weather events and diverse energy transition policies emerge as prominent risk factors driving energy market volatility. In this study, we employed a time-varying parameter vector autoregression (TVP-VAR) model and the spillover index method of generalized variance decomposition to assess the endogenous contagion and exogenous shock risk of China's energy prices and the systematic risk in the broader energy market. Our analysis included the coal, oil, and natural gas prices in both Chinese and international markets. The results indicate that the international oil market plays a dominant role in the energy risk spillover network, with the exogenous shock risk in China's energy market surpassing the endogenous contagion risk. Further, quantile models were used to investigate the impact of climate risks, namely climate disasters, climate policy uncertainty, and climate risk concern. We found that in high-risk environments, all climatic factors exert pronounced impacts on China's energy market risks, with climate risk concern being especially influential. Overall, this study has important policy implications for energy security and adaptation to climate change.
英文关键词	Climate risk; Risk spillover; Energy security; TVP-VAR; Quantile model
语种	英语
WOS研究方向	Business & Economics
WOS类目	Economics
WOS记录号	WOS:001235468600001
来源期刊	ENERGY ECONOMICS
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/287957
作者单位	Chinese Academy of Sciences; University of Chinese Academy of Sciences, CAS; Chinese Academy of Sciences; Chinese Academy of Sciences; University of Chinese Academy of Sciences, CAS; Chinese Academy of Sciences; Chinese Academy of Sciences; University of Chinese Academy of Sciences, CAS; Southwestern University of Finance & Economics - China
推荐引用方式 GB/T 7714	Guo, Kun,Kang, Yuxin,Ma, Dandan,et al. How do climate risks impact the contagion in China's energy market?[J],2024,133.
APA	Guo, Kun,Kang, Yuxin,Ma, Dandan,&Lei, Lei.(2024).How do climate risks impact the contagion in China's energy market?.ENERGY ECONOMICS,133.
MLA	Guo, Kun,et al."How do climate risks impact the contagion in China's energy market?".ENERGY ECONOMICS 133(2024).