Interfuel Substitution and the Industrial Demand for Energy: An International Comparison

Pindyck, Robert S.

doi:10.2307/1924584

Cited by 420 publications

(233 citation statements)

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“…On the one hand, we have econometric studies which treat energy demand as part of a structural simultaneous equation system of either consumer demands for goods or of production inputs [27]. Within that context, energy is sometimes disaggregated by energy source, depending on data availability.…”

Section: Previous Studies Tracking Transitions In Per Capita Energy Cmentioning

confidence: 99%

Economic development and energy consumption in the GCC: an international sectoral analysis

et al. 2017

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The relationship between economic development and energy consumption has important policy and geopolitical implications intersecting with future energy demand, economic growth and climate change. All countries in the GCC share a common goal to transition to economies less reliant on oil and gas. As part of this transition diversification and energy efficiency strategies have become major strategic priorities. If successful, such policies are likely to significantly change the relationship between domestic energy consumption and GDP. To inform discussion on this topic, this paper assesses the relationship between energy consumption at a sector level and GDP in the GCC relative to a reference group of OECD countries. While there is variation within each grouping and across sectors, the clear result is that energy consumption and economic growth are strongly linked to all sectors in the GCC. This is in contrast to the OECD group where energy and GDP have decoupled. These results highlight both the scope for further improvement in energy efficiency and the need for deeper integration of energy-intensive industry and higher value-added activities and services. We suggest a greater focus on energy productivity-or how maximum value can be obtained from energy consumption-can help guide industrial policy and increase the profile of energy efficiency efforts across the GCC.

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Section: Previous Studies Tracking Transitions In Per Capita Energy Cmentioning

confidence: 99%

Economic development and energy consumption in the GCC: an international sectoral analysis

et al. 2017

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“…In the existing empirical research on energy economics, the constant elasticity of substitution (CES) function with the hypothesis of neutral technological progress is mostly used [16][17][18]. However, the impact of input factors on output is not only related to the change in input factors themselves, but also related to the technology progress of different input factors, which are often not the same.…”

Section: Figure1 the Primary Energy Consumption Of China And Us And mentioning

confidence: 99%

Energy Substitution Effect on China’s Heavy Industry: Perspectives of a Translog Production Function and Ridge Regression

Lin

Kui

2017

Sustainability

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Abstract:A translog production function model with input factors including energy, capital, and labor is established for China's heavy industry. Using the ridge regression method, the output elasticity of each input factor and the substitution elasticity between input factors are analyzed. The empirical results show that the output elasticity of energy, capital and labor are all positive, while the output elasticities of energy and capital are relatively higher, indicating that China's heavy industry is energy-and capital-intensive. Simultaneously, all the input factors are substitutes, with the substitution between labor and energy having the highest degree of responsiveness. The substitution elasticity between labor and energy is decreasing, while the substitution elasticities of capital for energy and labor are increasing. More capital input can help to improve energy efficiency and thus accomplish the goal of energy conservation in China's heavy industry.

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“…A description of the variables included in the meta-model is given in Table 1. 10 Another potential source of variation in study outcomes is related to the fact that some studies allow for substitution between different types of energy (see Fuss, 1977;Pindyck, 1979;Turnovsky and Donnelly, 1984). However, the energy sub-model is always estimated separately from the aggregate production function, implying that substitution between different types of energy should not (substantially) affect the estimated substitution elasticities between capital and energy.…”

mentioning

confidence: 99%

Capital-Energy Substitution and Shifts in Factor Demand: A Meta-Analysis

2006

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Interfuel Substitution and the Industrial Demand for Energy: An International Comparison

Cited by 420 publications

References 18 publications

Economic development and energy consumption in the GCC: an international sectoral analysis

Economic development and energy consumption in the GCC: an international sectoral analysis

Energy Substitution Effect on China’s Heavy Industry: Perspectives of a Translog Production Function and Ridge Regression

Capital-Energy Substitution and Shifts in Factor Demand: A Meta-Analysis

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