| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25437 |
| 来源ID | Working Paper 25437 |
| Why Has China Overinvested in Coal Power? | |
| Mengjia Ren; Lee G. Branstetter; Brian K. Kovak; Daniel E. Armanios; Jiahai Yuan | |
| 发表日期 | 2019-01-14 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Since 2005, the Chinese government has engaged in an ambitious effort to move China’s energy system away from coal and towards more environmentally friendly sources of energy. However, China’s investment in coal power has accelerated sharply in recent years, raising concerns of massive overcapacity and undermining the central policy goal of promoting cleaner energy. In this paper, we ask why China engaged in such a pronounced investment boom in coal power in the mid-2010s. We find the protective rules under which China’s coal power industry has historically operated have made excessive investment extremely likely unless the central government serves as a “gatekeeper,” slowing and limiting investment in the face of incentives for socially excessive entry. When coal-power project approval authority was decentralized from the central government to local governments at the end of 2014, the gate was lifted and approval time considerably shortened, allowing investment to flood into the market. We construct a simple economic model that elucidates the effects of key policies on coal power investment, and examine the model’s predictions using coal-power project approval records from 2013 to 2016. We find the approval rate of coal power is about 3 times higher when the approval authority is decentralized, and provinces with larger coal industries tend to approve more coal power. We estimate that local coal production accounts for an additional 54GW of approved coal power in 2015 (other things equal), which is about 1/4 of total approved capacity in that year. |
| 主题 | Environmental and Resource Economics ; Energy |
| URL | https://www.nber.org/papers/w25437 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583111 |
| 推荐引用方式 GB/T 7714 | Mengjia Ren,Lee G. Branstetter,Brian K. Kovak,et al. Why Has China Overinvested in Coal Power?. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25437.pdf（411KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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