Publication date: Available online 24 January 2020
Source: Finance Research Letters
Author(s): Jian Liu, Ting Jiang, Ze Ye
Abstract
This paper studies the information efficiency of China's carbon markets using the fuzzy entropy method. The overall and time-varying results show that Hubei market has the highest information efficiency, followed by Guangdong, Beijing, Shanghai, Shenzhen, Chongqing and Tianjin market in turn. Moreover, the information efficiency of EU carbon market is higher than that of China's carbon markets. Further, the information efficiency of Chongqing and Hubei, Shenzhen and Tianjin, Beijing and Hubei, Beijing and Shanghai, Hubei and Shenzhen carbon markets is highly correlated.
