Carbon emission constraint: A catalyst for the shift from real economy to financialization?
Xinglin Liu
Abstract:The goals of carbon peak and carbon neutrality have gained significant attention in China. Carbon‐intensive corporates are tasked with decoupling economic growth from carbon emissions. This research examines their potential for financialization based on the compulsory fulfillment requirement of carbon emission allowances and the emission‐free characteristics of financial assets. This research finds that carbon emission policy significantly promotes corporates to allocate more capital toward business operations… Show more
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