Carbon Market Implications for new EU Member States: Empirical analysis of the pilot phase of the European carbon trading system

The book provides a theoretically sound and empirically validated understanding of carbon trading in a New Member State of the EU. The research contributes to the field of environmental economics by analyzing data of companies directly subject to the EU Emissions Trading Scheme (EU ETS) and by drawing conclusions in order to improve the system for the post-Kyoto phase. This ex-post research is the first attempt to qualitatively and quantitatively estimate the effects of emissions trading on a new market economy based on actual market data. The study provides insights into how political, economic and climate policy contexts shape responses to the EU ETS.