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According to the proposal of Kyoto protocol, carbon dioxide emission rights are traded as a commodity, and carbon emission trading market emerges as the times require. As the world's largest carbon emitter, China has established eight pilot markets for carbon emission trading. Selecting the closing price of eight carbon trading markets from the establishment to June 23, 2020, this paper analyzes the daily, weekly, and monthly return series data, using the first-order autoregressive process to adjust the daily income series to eliminate the weak trading market effect and then comprehensively uses the traditional variance ratio test and multiple variance ratio test to analyze the weak-form market efficiency of the eight carbon trading markets. The empirical results show that most of the carbon trading markets are non-weak-form market efficiency, and only Tianjin, Shanghai, and Hubei markets are weak-form market efficiency under the daily trading data. However, with the increase of carbon holding period, the weak-form market efficiency continues to strengthen. It shows that liquidity, quantity, and information transparency are important factors that affect the market efficiency. [ABSTRACT FROM AUTHOR]

Under the situation of global low-carbon development, the contradiction among energy consumption, economic growth, and CO2 emissions is increasingly prominent. Considering the possible two-way feedback among the three, based on the panel data of 30 regions in China from 2000 to 2017, this paper establishes a spatial Durbin model including economic growth, energy consumption equation, and CO2 emissions and studies the dynamic relationship and spatial spillover among economic growth, energy consumption, and CO2 emissions effects. The results show that the economic growth can significantly improve carbon dioxide emissions, and China's economic growth level has become a positive driving force for carbon dioxide emissions. However, economic growth will not be significantly affected by the reduction of carbon dioxide emissions. There is a two-way relationship between energy consumption (ENC) and carbon dioxide emissions (CO2). Energy consumption and carbon emissions are interrelated, which has a negative spatial spillover effect on the carbon dioxide emissions of the surrounding provinces and cities. [ABSTRACT FROM AUTHOR]

With the development of carbon market, the complex dynamic relationship between electricity and carbon market has become the focus of energy research area. In this paper, we applied a new developed multifractal detrended cross-correlation analysis method to investigate the cross-correlation and multifractality between electricity and carbon markets. We analyze the daily return of electricity and carbon prices over a period of 6 years to do the research. The results show that, firstly, we find that there is a strong negative correlation between domestic carbon price and electricity price and a significant cross-correlation between the return series of electricity and carbon markets. Secondly, through multifractal detrended fluctuation analysis, it is proven that there are obvious multifractal characteristics in the return series of electricity and carbon markets, and the results of traditional linear analysis are unreliable. We also find that, based on multifractal detrended cross-correlation analysis, the law cross-correlation between electricity and carbon markets exists significantly. The long-range correlation of small fluctuations and large fluctuations and the fat tail distribution of return series are the reasons for the formation of multifractality. [ABSTRACT FROM AUTHOR]