The Impact of the Government Policy on the Energy Efficient Gap: The Evidence from Ukraine

Abstract

This paper aims to check the impact of investment and institutional determinants on the energy efficiency gap. The findings of the bibliometric analysis confirmed the growth of research interests in identifying the core determinants of the energy efficiency gap. The central hypothesises are: the increasing quality of the institutions leads to an increase of green investments in the energy sector and the dual relationships between investment and institutional determinants lead to additional synergy effects, which allow boosting the decline of energy efficiency gaps of the national economy. For the analysis, the times series were collected from the World Data Bank, Eurostat, Bloomberg, for Ukraine for the period of 2002–2019. The following methods were used: the unit root test—for checking the stationarity of data—and the Johansen test and VEC-modelling—for the cointegration analysis. The findings prove that to reduce the energy efficiency gaps in Ukraine by 1% next year, it is necessary to increase green energy investments by 1.5% this year, and the political stability and public perception of corruption by 3% and 1%. The increase of the public perception of corruption by 1.47 points and of political stability by 2.38 points leads to maximising the recovery speed of the Ukrainian energy sector. Thus, while developing the policy to decrease the energy efficiency gaps, the Ukrainian government should consider the level of public perception of corruption and political stability.

The Factorial-Reflexive Approach to Diagnosing the Executors’ and Contractors’ Attitude to Achieving the Objectives by Energy Supplying Companies

“…In addition, the factor-reflexive approach presented in the article can be integrated into already existing models of economic sustainability [3,[8][9][10]14,15,19,23,24,[59][60][61][62][63][64][65][66][67][68][69][70][71][72][73], and can also be used to form and adjust strategies of various scales and areas of management.…”

Innovation and Information Aspects of the Structural Organization of the World Political and Economic Space

“…The theoretical search for modern features of structuring the world political and economic space is determined by such socio-integration and socio-institutional trends in the world economic system as preferring the concept of sustainable development in structuring the integration interests of actors in international relations within the world political and economic space (Abazov, 2021;Arefieva et al, 2021;Boiko et al, 2019;Borychowski et al, 2020;Czyżewski et al, 2019;2020;Dalevska, 2013;Dalevska et al, 2019;Dzwigol, & Dźwigoł-Barosz, 2018;Dzwigol et al, 2019a;Kharazishvili et al, 2020;Kondratenko et al, 2020;Kuzior et al, 2019;Kwilinski et al, 2019b;2020c;2020d;2020e;Kyrylov et al, 2020;Lyulyov & Pimonenko, 2017a;Lyulyov & Shvindina, 2017b;Lyulyov et al, 2018;2021a;2021b;Mlaabdal et al, 2020;Miskiewicz, 2020b;Pająk et al, 2016;Pimonenko & Lyulyov, 2019;Ponomarenko et al, 2018a;2018b;Prokopenko & Miskiewicz, 2020;Saługa et al, 2020;Savchenko et al, 2019;Shmygol et al, 2020;Wyrwa & Kaźmierczyk, 2020), strengthening social security system using the dominant characteristics of the world social capital, etc.…”

A Conceptual Approach to Forming a Transport and Logistics Cluster as a Component of the Region’s Innovative Infrastructure (on the Example of Prydniprovsky Economic Region of Ukraine)

“…In addition, it is necessary to note the research related to sustainable economic development and digital economy (Abazov 2021;Arefieva et al 2021;Boiko et al 2021;Bogachov et al 2020;Borychowski et al 2020;Burlaka et al 2019;Chygryn et al 2020;Czyżewski et al 2019;2020;Dalevska 2013;Dalevska et al 2019;Dementyev 2013;Dementyev & Scherbakov 2017;Dementyev & Kwilinski 2020;Drozdz et al 2019;2020;Dzwigol 2019a;2020c;Dzwigoł et al 2019c;Gorynia 2019;Gorynia et al 2019;Kaźmierczyk & Chinalska 2018;Kharazishvili et al 2021;Koibichuk et al 2021;Kondratenko et al 2020;Kuzior et al 2019;Kvilinskyi 2012;Kvilinskyi & Kravchenko 2016;Kwilinski et al 2019a;2020c;2020d;Kwilinski & Kuzior 2020;Kyrylov et al 2020;Lakhno et al 2018;Lyulyov & Pimonenko 2017;Lyulyov & Shvindina 2017;Lyulyov et al 2018;2021a;2021b;Melnychenko 2019;2020;…”