Measuring Chinese climate uncertainty

被引：13
|
作者：
Lee, Kiryoung [1 ]
Cho, Juik [2 ]
机构：
[1] Hankuk Univ Foreign Studies, Div Chinese Foreign Affairs & Commerce, 107 Imun Ro, Seoul, South Korea
[2] Shinhan Secur, 27F,70 Yeoui Daero, Seoul 07325, South Korea
来源：
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2023年 / 88卷
关键词：
Twitter; Climate uncertainty; Climate policy; China; Climate change; ENVIRONMENTAL-REGULATION; COMPETITIVENESS; EMISSIONS;
D O I：
10.1016/j.iref.2023.07.004
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We develop indices of Twitter-based Chinese Climate Uncertainty (TC-CU) and Climate Policy Uncertainty (TC-CPU) from 2010 to onward. Our indices spike with climate change-related presidential announcements, UN climate change conferences, climate change-related flood deaths, warning about melting glaciers in China's Qilian mountains, and rising climate concerns regarding bitcoin mining, among many others. We find that TC-CPU can predict future US climate uncertainty and attention measures while US measures do not predict Chinese climate change measures. Moreover, TC-CU (TC-CPU) negatively predicts equity returns of small (value) firms. Finally, we find a decline in CO2 emissions in response to shocks to TC-CU.
引用
收藏
页码：891 / 901
页数：11
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