An Analysis of Various Policy Instruments to Reduce Congestion, Fuel Consumption and CO2 Emissions in Beijing
Using a nested multinomial logit model
of car ownership and personal travel in Beijing circa 2005,
this paper compares the effectiveness of different policy
instruments to reduce traffic congestion and CO2 emissions.
The study shows that a congestion toll is more efficient
than a fuel tax in reducing traffic congestion, whereas a
fuel tax is more effective as a policy instrument for
reducing gasoline consumption and emissions. An improvement