Δευτερογενείς επιπτώσεις μεταξύ των αγορών ρύπων
Spillover effects in carbon markets
KeywordsΧρηματιστήριο ρύπων ; Κιότο ; Δευτερογενής επιπτώσεις ; Φαινόμενο του θερμοκηπίου ; Κλιματική αλλαγή ; Διοξείδιο του άνθρακα ; Μεταβλητότητα (volatility)
This thesis was written within the context of completing the postgraduate programme of the Department of Industrial Management and Technology, at the University of Piraeus. Initially the planet's current climate status is presented, with a reference being made to environmental contamination and its immediate consequences, as a result of climate change. The main part refers to the European stock exchange, particularly its function, the institutional frameworks and carbon market legislation. There is a reference to the impact of the pollutant market on the country's economy, and how it is linked to the financial crisis. The effects of greenhouse gas emission allowance prices are also mentioned. Finally, the Granger method analyses the relation of carbon market prices to three distinct stock exchanges, specifically Europe's, California's and New Zealand's. Our sample contains 75 € / tCO2 values for the period between January 2013 - March 2019.