This study aims to figure out what factors influence environmental degradation as measured by the ecological footprint in Algeria. It examines the impact of financial development (access to credit), human capital (education), and economic growth on Algeria's environmental deg- radation in the short and long term. For this purpose, the current study examines short- and long-term consequences using a 37 years time series of secondary data and applies the "autoregressive distributed lag" time-series model. Our findings show that economic growth has a considerable positive impact on the ecological footprint in both the long and short term. Both access to credit and education have a negative effect on environmental degradation. This sug- gests that access to credit and education are both negative short- and long-term derivatives of the ecological footprint in Algeria, whereas economic growth is a positive short- and long- term indicator. Furthermore, bidirectional causality is discovered between access to credit and ecological footprint, while the granger causality method discloses unidirectional causality from economic growth to the ecological footprint. Education also Granger-causes ecological footprint without any feedback. The current research has significant consequences since it will assist Algerian policymakers in controlling environmental deterioration through improved regulations. The findings inspire Algerian authorities to encourage the human resource to adopt green development through proper education programmes. Additionally, investors should be encouraged to finance environmentally friendly, sustainable projects. Furthermore, in Algeria, the government should reduce pollution from production by implementing green technologies. And participate in an international development track that is focused on longterm sustainability.
{"title":"The joint effect of financial development and human capital on the ecological footprint: The Algerian case","authors":"Fayçal Chiad, Smail Moumeni, Amine Aoussi","doi":"10.3280/efe2022-001005","DOIUrl":"https://doi.org/10.3280/efe2022-001005","url":null,"abstract":"This study aims to figure out what factors influence environmental degradation as measured by the ecological footprint in Algeria. It examines the impact of financial development (access to credit), human capital (education), and economic growth on Algeria's environmental deg- radation in the short and long term. For this purpose, the current study examines short- and long-term consequences using a 37 years time series of secondary data and applies the \"autoregressive distributed lag\" time-series model. Our findings show that economic growth has a considerable positive impact on the ecological footprint in both the long and short term. Both access to credit and education have a negative effect on environmental degradation. This sug- gests that access to credit and education are both negative short- and long-term derivatives of the ecological footprint in Algeria, whereas economic growth is a positive short- and long- term indicator. Furthermore, bidirectional causality is discovered between access to credit and ecological footprint, while the granger causality method discloses unidirectional causality from economic growth to the ecological footprint. Education also Granger-causes ecological footprint without any feedback. The current research has significant consequences since it will assist Algerian policymakers in controlling environmental deterioration through improved regulations. The findings inspire Algerian authorities to encourage the human resource to adopt green development through proper education programmes. Additionally, investors should be encouraged to finance environmentally friendly, sustainable projects. Furthermore, in Algeria, the government should reduce pollution from production by implementing green technologies. And participate in an international development track that is focused on longterm sustainability.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47138933","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Every power producer is facing the risk of an adverse price movement of commodities used for the power production and power itself in the meantime between cash flow planning and the actual power production. This study analyzes process of hedging the commodity market risk with usage of derivatives with financial settlement as an alternative to physical ones. For this purpose a hypothetical power producer operating a gas power unit was selected. Based on the real Czech power market data of 2019 this paper simulates expected cash flow, assesses potential risk for the producer and compares real cash flow of an unhedged position with a position hedged via futures contracts and spread options with financial settlement. For the risk evaluation Monte Carlo simulation and value at risk methods are used. As the most effective way to hedge the market risk of 2019 proved itself the futures hedge with monthly hedging tenor with an alternative in a short call option position. Practical implications: The study is written in a practical approach to the market risk man- agement process so that could be applicable in any company active in the power market facing the risk of commodity price movements regardless the input commodity used for the electric- ity production. Using the data of the Czech power market of 2019 the paper presents the case of a real power market participant.
{"title":"Commodity risk hedging of a power producer: Case study of the Czech power market","authors":"Jakub Zezula","doi":"10.3280/efe2022-001002","DOIUrl":"https://doi.org/10.3280/efe2022-001002","url":null,"abstract":"Every power producer is facing the risk of an adverse price movement of commodities used for the power production and power itself in the meantime between cash flow planning and the actual power production. This study analyzes process of hedging the commodity market risk with usage of derivatives with financial settlement as an alternative to physical ones. For this purpose a hypothetical power producer operating a gas power unit was selected. Based on the real Czech power market data of 2019 this paper simulates expected cash flow, assesses potential risk for the producer and compares real cash flow of an unhedged position with a position hedged via futures contracts and spread options with financial settlement. For the risk evaluation Monte Carlo simulation and value at risk methods are used. As the most effective way to hedge the market risk of 2019 proved itself the futures hedge with monthly hedging tenor with an alternative in a short call option position. Practical implications: The study is written in a practical approach to the market risk man- agement process so that could be applicable in any company active in the power market facing the risk of commodity price movements regardless the input commodity used for the electric- ity production. Using the data of the Czech power market of 2019 the paper presents the case of a real power market participant.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44267185","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Benini, M. Delfanti, Matteo Zulianello, F. Armanasco
The paper discusses similarities and differences between the concepts of Renewable and Citizen Energy Communities introduced, respectively, by the 2018/2001 "RED II" directive on the promotion of the use of energy from renewable sources and by the 2019/944 "IEM" directive on common rules for the internal market for electricity, as well as some open issues to be tackled when transposing such directives into national laws, in order to achieve an efficient and effective implementation of such new collective energy production and consumption schemes. The paper also presents the framework introduced in Italy by the preliminary transposition of the "RED II" Directive (Decree Law 162/2019 and subsequent provisions) and by the recent legislative decrees for the complete transposition.
{"title":"Renewable and citizen energy communities: Similarities, differences and open issues","authors":"M. Benini, M. Delfanti, Matteo Zulianello, F. Armanasco","doi":"10.3280/efe2021-002002","DOIUrl":"https://doi.org/10.3280/efe2021-002002","url":null,"abstract":"The paper discusses similarities and differences between the concepts of Renewable and Citizen Energy Communities introduced, respectively, by the 2018/2001 \"RED II\" directive on the promotion of the use of energy from renewable sources and by the 2019/944 \"IEM\" directive on common rules for the internal market for electricity, as well as some open issues to be tackled when transposing such directives into national laws, in order to achieve an efficient and effective implementation of such new collective energy production and consumption schemes. The paper also presents the framework introduced in Italy by the preliminary transposition of the \"RED II\" Directive (Decree Law 162/2019 and subsequent provisions) and by the recent legislative decrees for the complete transposition.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45294194","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Biofuels have drawn the attention of policymakers as a medium to address concerns of energy security, climate change and socio-economic development. The paper examines the biofuel policies of the major biofuel producing nations and analyzes the key instruments being adopted by them during the last decade such as blending mandates, financial incentives, subsidies, import tariffs, greenhouse gas (GHG) emission and carbon trading. The countries are categorized by continent and covers Asia (India, China, Malaysia, Indonesia and Thailand), Europe (European Union, Germany and France), South America (Brazil, Argentina), North America (USA, Canada) and Australia. The paper assesses whether the blending mandates had the desired impact on realization of policy targets and examines the impact of biofuel policies on the socio-economic development and environmental sustainability in these nations. Most countries continue to use sugarcane, corn, grains, and vegetable oils as feedstock for biofuel production thereby raising concerns about their adverse impact on food prices and food availability to the underprivileged people. Biofuel policies for this paper refer to policy instruments, strategies and programs which were established to aid and manage the production and consumption of biofuels - both ethanol and biodiesel.
{"title":"A perspective of global biofuel policies","authors":"Sudip Das","doi":"10.3280/efe2021-002003","DOIUrl":"https://doi.org/10.3280/efe2021-002003","url":null,"abstract":"Biofuels have drawn the attention of policymakers as a medium to address concerns of energy security, climate change and socio-economic development. The paper examines the biofuel policies of the major biofuel producing nations and analyzes the key instruments being adopted by them during the last decade such as blending mandates, financial incentives, subsidies, import tariffs, greenhouse gas (GHG) emission and carbon trading. The countries are categorized by continent and covers Asia (India, China, Malaysia, Indonesia and Thailand), Europe (European Union, Germany and France), South America (Brazil, Argentina), North America (USA, Canada) and Australia. The paper assesses whether the blending mandates had the desired impact on realization of policy targets and examines the impact of biofuel policies on the socio-economic development and environmental sustainability in these nations. Most countries continue to use sugarcane, corn, grains, and vegetable oils as feedstock for biofuel production thereby raising concerns about their adverse impact on food prices and food availability to the underprivileged people. Biofuel policies for this paper refer to policy instruments, strategies and programs which were established to aid and manage the production and consumption of biofuels - both ethanol and biodiesel.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42980992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Consumption of solid fuels by households is a major cause of indoor air pollution (IAP) and can severely damage health and the environment. The Environmental Kuznets Curve (EKC) literature suggests that as poor and middle-income countries grow, households will climb the ‘energy ladder' and adopt cleaner fuel technologies. This paper critically assesses that claim, using data from the Pakistan Social and Living Standards Measurement (PSLM) Survey 2013- 14. A novel aspect of our study is that, rather than treating the choice to use each fuel type as independent, we instead focus on the households' choice of fuel mix, using cluster analysis to determine in a data-driven way the fuel mixes that households actually employ. Importantly, despite income being a strong determinant of fuel mix selection, we show that income growth alone is unlikely to lead to substantial uptake of cleaner fuels. Our results challenge a practical aspect of countries moving along the EKC, and suggest that in order to reduce IAP direct policy intervention will be required.
{"title":"Can income growth alone increase household consumption of cleaner fuels? Evidence from Pakistan","authors":"M. Irfan, Michael P. Cameron, Gazi M. Hassan","doi":"10.3280/efe2021-002006","DOIUrl":"https://doi.org/10.3280/efe2021-002006","url":null,"abstract":"Consumption of solid fuels by households is a major cause of indoor air pollution (IAP) and can severely damage health and the environment. The Environmental Kuznets Curve (EKC) literature suggests that as poor and middle-income countries grow, households will climb the ‘energy ladder' and adopt cleaner fuel technologies. This paper critically assesses that claim, using data from the Pakistan Social and Living Standards Measurement (PSLM) Survey 2013- 14. A novel aspect of our study is that, rather than treating the choice to use each fuel type as independent, we instead focus on the households' choice of fuel mix, using cluster analysis to determine in a data-driven way the fuel mixes that households actually employ. Importantly, despite income being a strong determinant of fuel mix selection, we show that income growth alone is unlikely to lead to substantial uptake of cleaner fuels. Our results challenge a practical aspect of countries moving along the EKC, and suggest that in order to reduce IAP direct policy intervention will be required.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48539235","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
S. Troiano, V. Novelli, Paola Geatti, M. Carzedda, F. Marangon, L. Ceccon
This study investigates the preferences of Italian home-owners when choosing to buy wood for home heating systems. The focus is on understanding the influence of different dimensions of sustainability on consumer choices. For this purpose, we designed a survey including a discrete choice experiment and administered it to residents in Italy. Our findings reveal that, on average, respondents pay particular attention to wood cultivation systems. However, forest property regime was considered second in terms of importance after wood price. Further analysis found that our sample presents four clusters of wood consumers. These findings showed considerable heterogeneity among respondents, the majority of whom considered important wood cultivation practices and appreciated forest landscape beauties for their decision. Local origin of wood was considered important by the majority of respondents, even if, surprisingly, a group of interviewees preferred foreign wood. To achieve better results and effectiveness in improving sustainable practices of the domestic heating systems, a combination of policies should be used simultaneously. Our results support the hypothesis that policymakers could achieve better results in terms of sustainability by applying a combined policy that levers the importance citizens accord to the different characteristics of wood in home heating systems.
{"title":"Households' preferences for wood in home heating systems: Does sustainability matter?","authors":"S. Troiano, V. Novelli, Paola Geatti, M. Carzedda, F. Marangon, L. Ceccon","doi":"10.3280/efe2021-002005","DOIUrl":"https://doi.org/10.3280/efe2021-002005","url":null,"abstract":"This study investigates the preferences of Italian home-owners when choosing to buy wood for home heating systems. The focus is on understanding the influence of different dimensions of sustainability on consumer choices. For this purpose, we designed a survey including a discrete choice experiment and administered it to residents in Italy. Our findings reveal that, on average, respondents pay particular attention to wood cultivation systems. However, forest property regime was considered second in terms of importance after wood price. Further analysis found that our sample presents four clusters of wood consumers. These findings showed considerable heterogeneity among respondents, the majority of whom considered important wood cultivation practices and appreciated forest landscape beauties for their decision. Local origin of wood was considered important by the majority of respondents, even if, surprisingly, a group of interviewees preferred foreign wood. To achieve better results and effectiveness in improving sustainable practices of the domestic heating systems, a combination of policies should be used simultaneously. Our results support the hypothesis that policymakers could achieve better results in terms of sustainability by applying a combined policy that levers the importance citizens accord to the different characteristics of wood in home heating systems.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48254996","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article is devoted to an analysis of the prospects for the development of hydrogen uses, from a decarbonisation perspective. Based on a comparison of low-carbon hydrogen production technologies (from renewables, nuclear, CCS) and their prospective costs, a «merit order» in the uses is determined, leading to prioritise substitution in heavy industry first, then in heavy transport. We also draw attention to the safety of hydrogen uses, whose explosiveness calls for the greatest vigilance, at the risk, otherwise, of hindering the deployment of hydrogen uses
{"title":"What merit order for hydrogen development? Prospective observations from the French context","authors":"O. Appert, P. Geoffron","doi":"10.3280/efe2021-002001","DOIUrl":"https://doi.org/10.3280/efe2021-002001","url":null,"abstract":"This article is devoted to an analysis of the prospects for the development of hydrogen uses, from a decarbonisation perspective. Based on a comparison of low-carbon hydrogen production technologies (from renewables, nuclear, CCS) and their prospective costs, a «merit order» in the uses is determined, leading to prioritise substitution in heavy industry first, then in heavy transport. We also draw attention to the safety of hydrogen uses, whose explosiveness calls for the greatest vigilance, at the risk, otherwise, of hindering the deployment of hydrogen uses","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45667026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Electricity availability and generation have a significant impact on the economies internationally. Understanding the factors affecting the electricity supply sector is imperative towards improving the industry and achieving a sustainable energy future for all as per the United Nations Sustainable Development Goals (SDGs) to 2030. This study mainly focuses on the institutional quality factors that impact the electricity supply of twenty countries, representing various electricity market structures and supply mixes, to derive holistic policy suggestions. Institutional quality will be defined as property rights, corruption perception, voice and accountability, government efficiency, the rule of law and regulatory quality in the study. To do so, a Seemingly Unrelated Regression model will be used for the period 2003 to 2018. The results indicate that improved institutional quality stabilises markets, affecting the electricity supply.
{"title":"Does institutional quality affect electricity supply? A panel SUR estimation","authors":"A. Venter, R. Inglesi‐Lotz","doi":"10.3280/efe2021-002004","DOIUrl":"https://doi.org/10.3280/efe2021-002004","url":null,"abstract":"Electricity availability and generation have a significant impact on the economies internationally. Understanding the factors affecting the electricity supply sector is imperative towards improving the industry and achieving a sustainable energy future for all as per the United Nations Sustainable Development Goals (SDGs) to 2030. This study mainly focuses on the institutional quality factors that impact the electricity supply of twenty countries, representing various electricity market structures and supply mixes, to derive holistic policy suggestions. Institutional quality will be defined as property rights, corruption perception, voice and accountability, government efficiency, the rule of law and regulatory quality in the study. To do so, a Seemingly Unrelated Regression model will be used for the period 2003 to 2018. The results indicate that improved institutional quality stabilises markets, affecting the electricity supply.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42248825","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The study investigates the impact of renewable energy, international trade, foreign direct investments (FDI), and carbon dioxide emissions on gross domestic product growth (GDPG) by adopting the autoregressive distributed lag approach, error correction method, and Toda- Yamamoto approaches to determine the long-term relationship, short-term relationship, and direction of causality for the period 1984 to 2018 in Nigeria. The results of the study show the existence of a long-term and short-term relationship among the variables. The study found positive relationships between GDPG, international trade and carbon dioxide emissions. The Toda-Yamamoto tests also found a unidirectional causality from gross domestic growth to international trade and carbon dioxide emissions. On the other hand, the GDPG has a positive and insignificant relationship with renewable energy and foreign direct investment in the long term and short term. The study also found no causality between FDI, GDPG, and renewable energy. Therefore, based on the findings, this study puts forward policy strategies that are likely to reduce emissions without reducing GDP growth in Nigeria and other developing countries.
{"title":"Renewable energy, international trade, carbon dioxide emissions, and economic growth in Nigeria","authors":"Ibitoye J. Oyebanji, Ewert P. J. Kleynhans","doi":"10.3280/efe2021-002008","DOIUrl":"https://doi.org/10.3280/efe2021-002008","url":null,"abstract":"The study investigates the impact of renewable energy, international trade, foreign direct investments (FDI), and carbon dioxide emissions on gross domestic product growth (GDPG) by adopting the autoregressive distributed lag approach, error correction method, and Toda- Yamamoto approaches to determine the long-term relationship, short-term relationship, and direction of causality for the period 1984 to 2018 in Nigeria. The results of the study show the existence of a long-term and short-term relationship among the variables. The study found positive relationships between GDPG, international trade and carbon dioxide emissions. The Toda-Yamamoto tests also found a unidirectional causality from gross domestic growth to international trade and carbon dioxide emissions. On the other hand, the GDPG has a positive and insignificant relationship with renewable energy and foreign direct investment in the long term and short term. The study also found no causality between FDI, GDPG, and renewable energy. Therefore, based on the findings, this study puts forward policy strategies that are likely to reduce emissions without reducing GDP growth in Nigeria and other developing countries.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47852346","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study the determinants of a stable long-run relationship between energy use and economic growth. We select a sample of 72 countries and test the cointegration between energy consumption and GDP. Next, we estimate the probability of cointegration using characteristics of countries' energy matrix and economic activities. Our findings indicate a lower probability of cointegration between energy use and income in countries with a larger service sector and in countries where energy matrices have greater use of renewable sources. Also, we find a higher probability of cointegration in countries with intense use of nuclear power.
{"title":"On the determinants of a stable long-run relationship between energy consumption and economic growth","authors":"Fernando Barros Jr, Victor R. Rodrigues","doi":"10.3280/efe2021-002007","DOIUrl":"https://doi.org/10.3280/efe2021-002007","url":null,"abstract":"We study the determinants of a stable long-run relationship between energy use and economic growth. We select a sample of 72 countries and test the cointegration between energy consumption and GDP. Next, we estimate the probability of cointegration using characteristics of countries' energy matrix and economic activities. Our findings indicate a lower probability of cointegration between energy use and income in countries with a larger service sector and in countries where energy matrices have greater use of renewable sources. Also, we find a higher probability of cointegration in countries with intense use of nuclear power.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43908611","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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