本文比較生產導向與消費導向的碳排放指標，探討國際貿易對碳排放的異質性影響。研究採用1990年至2022年間105個國家的追蹤資料，並運用共同相關效應平均群組估計法（CCE-MG）進行實證分析，系統性評估進出口活動對生產導向和消費導向的碳排放的影響，並進一步考察淨碳排放流量結構、國家收入水平與能源價格等條件因素的調節角色。
實證結果顯示，進口對消費導向的碳排放具有顯著正向影響，出口則呈現抑制效果，顯示貿易結構變化將影響最終消費所對應的碳排放水準。相較之下，生產導向的碳排放主要受到能源消費與經濟活動擴張所驅動，貿易開放度對碳排放的影響相對間接。此外，能源價格方面，整體影響較為有限，只在非OECD國家中，汽油價格對生產導向的碳排放具顯著負向影響，而對全體樣本的消費導向的碳排放亦具有抑制效果。

This study compares production-based and consumption-based carbon emission indicators to examine the heterogeneous impacts of international trade on carbon emissions. Using panel data covering 105 countries from 1990 to 2022, the analysis applies the Common Correlated Effects Mean Group (CCE-MG) estimator to systematically assess how import and export activities influence production-based and consumption-based carbon emissions. In addition, it explores the moderating roles of net carbon emission flows, national income levels, and energy prices.
The empirical results show that imports have a significant positive effect on consumption-based carbon emissions, while exports exhibit a mitigating effect. This suggests that changes in trade structure can shape the carbon emissions associated with final consumption. In contrast, production-based carbon emissions are primarily driven by energy consumption and the expansion of economic activity, and the effect of trade openness on these emissions appears relatively indirect. Furthermore, regarding energy prices, the overall impact is limited: gasoline prices have a significant negative effect on production-based carbon emissions in non-OECD countries and also contribute to reducing consumption-based carbon emissions in the full sample.

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