The raging debate between green growth and degrowth continues. Technology is a focal point in this debate as the advocates of green growth and degrowth have contradictory views on the roles and impacts of technology on environment and society. Green growth advocates believe that technology can allow indefinite growth while simultaneously ensuring environmental and societal sustainability, whereas the degrowth advocates argue that technological progress cannot allow indefinite growth. These views are largely opinion based rather than informed by objective and systematic analyses because comprehensive tools to evaluate the roles and impacts of technology on environment and society do not yet exist. This paper develops a much-needed framework to comprehensively evaluate the roles of technology on environment and society by analysing the interactions among the dimensions of technology, environment, economy and society. Key parameters that characterise technology are proposed for its evaluation and the policy implications of technological evaluations are examined. Finally, potential future research directions are explored. The technological evaluation approach proposed in this paper has a potential to significantly advance the green growth versus degrowth debate.
{"title":"Green growth or degrowth? Evaluating the potential of technology for sustainability","authors":"P. Pyakurel","doi":"10.3280/efe2021-001002","DOIUrl":"https://doi.org/10.3280/efe2021-001002","url":null,"abstract":"The raging debate between green growth and degrowth continues. Technology is a focal point in this debate as the advocates of green growth and degrowth have contradictory views on the roles and impacts of technology on environment and society. Green growth advocates believe that technology can allow indefinite growth while simultaneously ensuring environmental and societal sustainability, whereas the degrowth advocates argue that technological progress cannot allow indefinite growth. These views are largely opinion based rather than informed by objective and systematic analyses because comprehensive tools to evaluate the roles and impacts of technology on environment and society do not yet exist. This paper develops a much-needed framework to comprehensively evaluate the roles of technology on environment and society by analysing the interactions among the dimensions of technology, environment, economy and society. Key parameters that characterise technology are proposed for its evaluation and the policy implications of technological evaluations are examined. Finally, potential future research directions are explored. The technological evaluation approach proposed in this paper has a potential to significantly advance the green growth versus degrowth debate.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46444483","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}
Pakistan is the world's sixth most populous country, currently facing the worst energy crisis. Although rich in renewable resources, Pakistan's energy system relies mainly on fossil fuels and imported energy for its energy needs. This study aims to use an analytical hierarchy pro-cess to prioritize six renewable technologies for Pakistan, with four criteria and thirteen subcriteria. The results indicate that solar power is particularly well suited for Pakistan, as it gained 42% priority weightage in the final aggregation. Wind energy is ranked second with a priority weight of 24%, followed by hydro 13%, biomass 9%, ocean 8% and geothermal en-ergy 3%. Solar and wind energies accounted for nearly 66% of the total weightage. This result highlighted the significance of economic criteria for the selection of renewable technologies in Pakistan, with around 43% priority weightage. Environmental criteria gained 19% whereas socio-political criteria registered 14% and technical criteria 23% priority weightage. During the potential assessment of the research, it was concluded that although renewable resource development has not been allocated sufficient attention in Pakistan in the past, if the correct decisions are taken regarding the exploitation of these resources, this can remedy the country's hazardous dependence on fossil fuel and imported energy.
{"title":"The prioritization of renewable energy technologies in Pakistan: An urgent need","authors":"Leezna Saleem, Imran Ahmad Siddiqui, I. Ulfat","doi":"10.3280/efe2021-001005","DOIUrl":"https://doi.org/10.3280/efe2021-001005","url":null,"abstract":"Pakistan is the world's sixth most populous country, currently facing the worst energy crisis. Although rich in renewable resources, Pakistan's energy system relies mainly on fossil fuels and imported energy for its energy needs. This study aims to use an analytical hierarchy pro-cess to prioritize six renewable technologies for Pakistan, with four criteria and thirteen subcriteria. The results indicate that solar power is particularly well suited for Pakistan, as it gained 42% priority weightage in the final aggregation. Wind energy is ranked second with a priority weight of 24%, followed by hydro 13%, biomass 9%, ocean 8% and geothermal en-ergy 3%. Solar and wind energies accounted for nearly 66% of the total weightage. This result highlighted the significance of economic criteria for the selection of renewable technologies in Pakistan, with around 43% priority weightage. Environmental criteria gained 19% whereas socio-political criteria registered 14% and technical criteria 23% priority weightage. During the potential assessment of the research, it was concluded that although renewable resource development has not been allocated sufficient attention in Pakistan in the past, if the correct decisions are taken regarding the exploitation of these resources, this can remedy the country's hazardous dependence on fossil fuel and imported energy.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44804184","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 conversion of solar energy into electrical energy by the design of energy-efficient way is the key objective of this paper, which can be used as a main source of power for the main building of Polytechnic Institute to meet its daily energy requirement by replacing the all exist-ing fluorescent lighting loads to LEDs. The main purpose to choose a standalone photovoltaic system is due to the huge power cut in this location. This institute is situated in a rural area of West Bengal, India. The use of photovoltaic power relies upon assortment factors, such as structuring, topographical area, climate condition, sun-based irradiance, and burden utilization. Point by point use examinations including the two sorts of lighting burden, establishment, and upkeep of sun-based PV framework amid its life expectancy has been completed. Moreover, the analysis has two dimensions, one is cost comparison and payback calculation with respect to energy by replacement of load and another is, though the initial investment is high in a off-grid photovoltaic system, during the life span of the scheme, it not only returns this capital in-vestment but also gains substantial dividend.
{"title":"Performance analysis of standalone photovoltaic power generation in different load conditions in India","authors":"Avijit Karmakar, Pradip Kumar Sadhu, S. Das","doi":"10.3280/efe2021-001007","DOIUrl":"https://doi.org/10.3280/efe2021-001007","url":null,"abstract":"The conversion of solar energy into electrical energy by the design of energy-efficient way is the key objective of this paper, which can be used as a main source of power for the main building of Polytechnic Institute to meet its daily energy requirement by replacing the all exist-ing fluorescent lighting loads to LEDs. The main purpose to choose a standalone photovoltaic system is due to the huge power cut in this location. This institute is situated in a rural area of West Bengal, India. The use of photovoltaic power relies upon assortment factors, such as structuring, topographical area, climate condition, sun-based irradiance, and burden utilization. Point by point use examinations including the two sorts of lighting burden, establishment, and upkeep of sun-based PV framework amid its life expectancy has been completed. Moreover, the analysis has two dimensions, one is cost comparison and payback calculation with respect to energy by replacement of load and another is, though the initial investment is high in a off-grid photovoltaic system, during the life span of the scheme, it not only returns this capital in-vestment but also gains substantial dividend.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42619558","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 pass-through of oil price to various macroeconomic aggregates, including the exchange rates and stock prices have been vigorously studied in the past albeit varying submissions. More so, these studies considered the relationship only within the conditional mean. To pro-vide fresh insights about the heterogeneous impacts, this study re-examines the dynamic pass-through of international oil prices to exchange rates and stock prices in Nigeria using the Quantile ARDL model. The quantile ARDL accounts for locational asymmetries among varia-bles. Findings indicate that the spillover effects of oil price shocks on both the exchange rate and stock prices in Nigeria are heterogeneous and differ significantly across the quantile dis-tributions of the foreign exchange and stock markets. The impact increases over time with greater impacts recorded at quantiles below the median. On this background, specific policies targeting the peculiar effects at each quantile of exchange rate and stock prices will ensure op-timal performance leading to higher returns to investors and market practitioners.
{"title":"Oil price, exchange rate and stock price in Nigeria: Fresh insights based on quantile ARDL model","authors":"E. Uche, L. Effiom","doi":"10.3280/efe2021-001004","DOIUrl":"https://doi.org/10.3280/efe2021-001004","url":null,"abstract":"The pass-through of oil price to various macroeconomic aggregates, including the exchange rates and stock prices have been vigorously studied in the past albeit varying submissions. More so, these studies considered the relationship only within the conditional mean. To pro-vide fresh insights about the heterogeneous impacts, this study re-examines the dynamic pass-through of international oil prices to exchange rates and stock prices in Nigeria using the Quantile ARDL model. The quantile ARDL accounts for locational asymmetries among varia-bles. Findings indicate that the spillover effects of oil price shocks on both the exchange rate and stock prices in Nigeria are heterogeneous and differ significantly across the quantile dis-tributions of the foreign exchange and stock markets. The impact increases over time with greater impacts recorded at quantiles below the median. On this background, specific policies targeting the peculiar effects at each quantile of exchange rate and stock prices will ensure op-timal performance leading to higher returns to investors and market practitioners.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47392334","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}
D. Dinh, T. Do, T. Le, N. Pham, A. Trinh, Duc-Huu Nguyen, W. Khanitchaidecha
In Asia, Vietnam is one of the countries severely affected by energy shortages and climate change. Development of renewable energy from livestock wastes, e.g., production of electricity from biogas, is a solution for reducing greenhouse gas emissions and pollution from untreated livestock wastes, as well as energy shortages. So that, biogas technology has been researched and applied in Vietnam since the 1960s. The development and state-of-art issue of household biogas, specifically, the opportunities and constraints of household biogas are presented in this paper. There are several opportunities for household biogas development, including, the availability of biogas fermentation materials, energy shortage issues, and policy support from the Government of Vietnam and international organizations. Besides, barriers encountered in household biogas development in Vietnam included technical barriers, financial policy barriers, awareness and capacity limitations. The capacity building should include the dissemination and update of policy to maintain transparency and credibility for attracting potential domestic investors. Training courses should be provided to technical staff of biogas digester on operation and maintenance. Measures should be taken to improve the policy and mechanisms, especially, financial mechanisms.
{"title":"Utilization of biogas as an untapped renewable energy source in Vietnam","authors":"D. Dinh, T. Do, T. Le, N. Pham, A. Trinh, Duc-Huu Nguyen, W. Khanitchaidecha","doi":"10.3280/efe2021-001006","DOIUrl":"https://doi.org/10.3280/efe2021-001006","url":null,"abstract":"In Asia, Vietnam is one of the countries severely affected by energy shortages and climate change. Development of renewable energy from livestock wastes, e.g., production of electricity from biogas, is a solution for reducing greenhouse gas emissions and pollution from untreated livestock wastes, as well as energy shortages. So that, biogas technology has been researched and applied in Vietnam since the 1960s. The development and state-of-art issue of household biogas, specifically, the opportunities and constraints of household biogas are presented in this paper. There are several opportunities for household biogas development, including, the availability of biogas fermentation materials, energy shortage issues, and policy support from the Government of Vietnam and international organizations. Besides, barriers encountered in household biogas development in Vietnam included technical barriers, financial policy barriers, awareness and capacity limitations. The capacity building should include the dissemination and update of policy to maintain transparency and credibility for attracting potential domestic investors. Training courses should be provided to technical staff of biogas digester on operation and maintenance. Measures should be taken to improve the policy and mechanisms, especially, financial mechanisms.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44438260","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 penetration of intermittent renewable energies in the electricity mixes impact the wholesale price. In the absence of electricity storing capacities at reasonable costs, the back-up of the intermittent renewable energies is ensured by fossil or nuclear power plants. In 2016 the French Nuclear Safety Authority has ordered the shutdown of a large part of nuclear units for safety reasons. This paper analyses the impact of such a decision both on the evolution of the whole-sale price of electricity and on the French commercial balance. Although the resulting mix from the partial shutdown of the nuclear power plants was able to produce the electrical energy consumed, it was unable to keep up with demand. This has resulted in a very sharp increase in the price of electricity on the spot market and in massive electricity imports at peak times. Moreover the carbon electricity footprint produced in France is much lower than the one pro-duced by its neighbors. Consequently, the nuclear partial shutdown has a negative climatic impact resulting in a deterioration of the citizen welfare. Thus, the French experience of 2016 teaches us that in the absence of electricity storage facilities, there is no point in trying to re-duce the share of nuclear and fossil fuels in the electricity mix. If the policymakers want to do so, they must ensure that massive electricity storage facilities are present and promote electrici-ty demand flexibility on a large scale. This study highlights also the divergence that can exist between the interest of the nuclear producer (higher revenues) and the collective interest (lower welfare and negative impact on the trade balance).
{"title":"What can be learned from the French partial nuclear shutdown of 2016?","authors":"J. Percebois, S. Pommeret","doi":"10.3280/efe2021-001001","DOIUrl":"https://doi.org/10.3280/efe2021-001001","url":null,"abstract":"The penetration of intermittent renewable energies in the electricity mixes impact the wholesale price. In the absence of electricity storing capacities at reasonable costs, the back-up of the intermittent renewable energies is ensured by fossil or nuclear power plants. In 2016 the French Nuclear Safety Authority has ordered the shutdown of a large part of nuclear units for safety reasons. This paper analyses the impact of such a decision both on the evolution of the whole-sale price of electricity and on the French commercial balance. Although the resulting mix from the partial shutdown of the nuclear power plants was able to produce the electrical energy consumed, it was unable to keep up with demand. This has resulted in a very sharp increase in the price of electricity on the spot market and in massive electricity imports at peak times. Moreover the carbon electricity footprint produced in France is much lower than the one pro-duced by its neighbors. Consequently, the nuclear partial shutdown has a negative climatic impact resulting in a deterioration of the citizen welfare. Thus, the French experience of 2016 teaches us that in the absence of electricity storage facilities, there is no point in trying to re-duce the share of nuclear and fossil fuels in the electricity mix. If the policymakers want to do so, they must ensure that massive electricity storage facilities are present and promote electrici-ty demand flexibility on a large scale. This study highlights also the divergence that can exist between the interest of the nuclear producer (higher revenues) and the collective interest (lower welfare and negative impact on the trade balance).","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44213746","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}
Alireza Ghadertootoonchi, M. Fani, Masoume Bararzadeh
The elimination of energy subsidies leads to the increase in CPI (Consumer Price Index) di-rectly and indirectly. In this study, the effects removing energy subsidies on the Iranian econ-omies have been investigated; though, the main innovation introduced in the study was to con-sider the effect of energy price realization on the economy with respect to the monetary policy (path) that can be regarded as the third option; that is, rising energy price creates new sources that can cover the deficits of the countries. The countries don't need to cover their budget defi-cits by borrowing from the central bank; for this purpose, dynamic modeling in Vensim soft-ware was used via the equations obtained from the Time Series Data set prepared from 2000 to 2014. The results show that the annual increase of 10, 20, and 30 percent of prices after 2011 could have reduced liquidity volume in 2014 by 0.04, 0.11, and 0.75 million billion Rials respectively and leading to CPI reduction by 4, 7 and 10.3 units. Besides, the results indicated that the households reacted to gasoline price change more than the other two energy carriers; that is, gas and electricity. And the first income decile was the most sensitive decile of popula-tion towards price changes. compared to 2009, gasoline, gas and electricity consumption of the first decile declined by 68.5%, 21%, and 10% in 2010, respectively.
{"title":"The effect of energy subsidies on the sustainability of economy, society and environment: A case study of Iran","authors":"Alireza Ghadertootoonchi, M. Fani, Masoume Bararzadeh","doi":"10.3280/efe2020-002005","DOIUrl":"https://doi.org/10.3280/efe2020-002005","url":null,"abstract":"The elimination of energy subsidies leads to the increase in CPI (Consumer Price Index) di-rectly and indirectly. In this study, the effects removing energy subsidies on the Iranian econ-omies have been investigated; though, the main innovation introduced in the study was to con-sider the effect of energy price realization on the economy with respect to the monetary policy (path) that can be regarded as the third option; that is, rising energy price creates new sources that can cover the deficits of the countries. The countries don't need to cover their budget defi-cits by borrowing from the central bank; for this purpose, dynamic modeling in Vensim soft-ware was used via the equations obtained from the Time Series Data set prepared from 2000 to 2014. The results show that the annual increase of 10, 20, and 30 percent of prices after 2011 could have reduced liquidity volume in 2014 by 0.04, 0.11, and 0.75 million billion Rials respectively and leading to CPI reduction by 4, 7 and 10.3 units. Besides, the results indicated that the households reacted to gasoline price change more than the other two energy carriers; that is, gas and electricity. And the first income decile was the most sensitive decile of popula-tion towards price changes. compared to 2009, gasoline, gas and electricity consumption of the first decile declined by 68.5%, 21%, and 10% in 2010, respectively.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47494491","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 worldwide wave of reforms investing power industry has created new challenges to both supply demand side management. After deregulation, electric utilities restructured their opera-tions from vertically integrated mechanisms to open market systems in order to establish a new competitive sector. Reform has involved also the Italian power sector, but competition, as lar-gely shown by the empirical literature particularly in the first years of reform, has been far to be reached, and the electricity markets has been characterized by conditions of oligopoly and exercise of market power. This paper aims to analyze welfare loss and deviation from the competitive equilibrium recorded in the day ahead Italian electricity market after the first wave of reforms was almost implemented. The study presents a theoretical and empirical model to construct a competitive equilibrium, estimating market power, both, on the supply and demand sides of the day ahead electricity market. Results show the effect of non-competitive equilibriums for the hourly markets in the period 2013-2014. In an ideal competitive market, prices would be lower than historical prices by about 2-5% and quantities would be higher by about 0.5-1%.
{"title":"Competition in the Italian electricity market: The unforeseen social welfare losses of reform","authors":"Maria Chiara D’Errico","doi":"10.3280/efe2020-002004","DOIUrl":"https://doi.org/10.3280/efe2020-002004","url":null,"abstract":"The worldwide wave of reforms investing power industry has created new challenges to both supply demand side management. After deregulation, electric utilities restructured their opera-tions from vertically integrated mechanisms to open market systems in order to establish a new competitive sector. Reform has involved also the Italian power sector, but competition, as lar-gely shown by the empirical literature particularly in the first years of reform, has been far to be reached, and the electricity markets has been characterized by conditions of oligopoly and exercise of market power. This paper aims to analyze welfare loss and deviation from the competitive equilibrium recorded in the day ahead Italian electricity market after the first wave of reforms was almost implemented. The study presents a theoretical and empirical model to construct a competitive equilibrium, estimating market power, both, on the supply and demand sides of the day ahead electricity market. Results show the effect of non-competitive equilibriums for the hourly markets in the period 2013-2014. In an ideal competitive market, prices would be lower than historical prices by about 2-5% and quantities would be higher by about 0.5-1%.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46917166","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 paper examines the relationship between the education level of household heads and households' energy-saving practices at the micro-level in South Africa. It uses the community survey of 2016 as data source. Multilevel logistic models are estimated to account for similari-ties between households in same municipalities. The results point to a significant and positive relationship between the education level of household heads and households' energy-saving practices. One can therefore infer that a household whose head is educated is more likely to have light bulbs, switch off lights in the house when not in use, and switch off appliances at the wall (not with remotes) when not in use than households whose heads have no education. Therefore, education offers a tool to incentivise households to save electricity, which will also contribute indirectly to the effort of addressing the challenges of climate change, amongst oth-ers.
{"title":"Relationship between education and households' electricity-saving behaviour in South Africa: A multilevel logistic analysis","authors":"K. C. Mulamba","doi":"10.3280/efe2020-002003","DOIUrl":"https://doi.org/10.3280/efe2020-002003","url":null,"abstract":"This paper examines the relationship between the education level of household heads and households' energy-saving practices at the micro-level in South Africa. It uses the community survey of 2016 as data source. Multilevel logistic models are estimated to account for similari-ties between households in same municipalities. The results point to a significant and positive relationship between the education level of household heads and households' energy-saving practices. One can therefore infer that a household whose head is educated is more likely to have light bulbs, switch off lights in the house when not in use, and switch off appliances at the wall (not with remotes) when not in use than households whose heads have no education. Therefore, education offers a tool to incentivise households to save electricity, which will also contribute indirectly to the effort of addressing the challenges of climate change, amongst oth-ers.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43853643","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 paper examines the relationship between the energy consumption and economic growth from 1968 to 2019 in Greece, by employing the vector error-correction model estimation. A series of econometric tests are employed concerning the stationary of the data, and the co-integration and the relationship among the variables during the long- and short-term. The em-pirical results suggest that there is no bidirectional relationship between economic growth and energy consumption. More specifically, GDP per capita does not affect the energy consump-tion of the three primary sources either in the long-term or the short-term. In other words, the economic crisis and its implications for GDP do not affect energy consumption, and they are not responsible for the considerable decrease in energy sources' consumption. On the other hand, the energy consumption of oil and coal negatively affect the GDP per capita. These re-sults are different from previous studies' conclusions for Greece; this is because the never been experienced before. These findings raise new research questions and also show the limi-tations of the Greek market, as it is regulated and controlled by the government.
{"title":"The relationship between energy consumption and economic growth: New evidence from Greece","authors":"Antonia Gkergki","doi":"10.3280/efe2020-002006","DOIUrl":"https://doi.org/10.3280/efe2020-002006","url":null,"abstract":"This paper examines the relationship between the energy consumption and economic growth from 1968 to 2019 in Greece, by employing the vector error-correction model estimation. A series of econometric tests are employed concerning the stationary of the data, and the co-integration and the relationship among the variables during the long- and short-term. The em-pirical results suggest that there is no bidirectional relationship between economic growth and energy consumption. More specifically, GDP per capita does not affect the energy consump-tion of the three primary sources either in the long-term or the short-term. In other words, the economic crisis and its implications for GDP do not affect energy consumption, and they are not responsible for the considerable decrease in energy sources' consumption. On the other hand, the energy consumption of oil and coal negatively affect the GDP per capita. These re-sults are different from previous studies' conclusions for Greece; this is because the never been experienced before. These findings raise new research questions and also show the limi-tations of the Greek market, as it is regulated and controlled by the government.","PeriodicalId":38445,"journal":{"name":"Economics and Policy of Energy and the Environment","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48018536","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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