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on Energy Economics |
| By: | Karoline S. Rogge (SPRU – Science Policy Research Unit, University of Sussex, Brighton, UK; Fraunhofer Institute Systems and Innovation Research (ISI), Karlsruhe, Germany); Joachim Schleich (Fraunhofer Institute Systems and Innovation Research (ISI), Karlsruhe, Germany; Grenoble Ecole de Management, Grenoble, France; Virginia Polytechnic Institute & State University, Blacksburg, VA, USA) |
| Abstract: | Policy mixes may play a crucial role in redirecting and accelerating innovation towards low-carbon solutions, thus addressing a key societal challenge. Towards this end, the characteristics of such policy mixes have been argued to be of great relevance, yet with little empirical evidence backing up such claims. In this paper we explore this link between policy mix characteristics and low-carbon innovation, using the research case of the transition of the German electricity system towards renewable energy. Our empirical insights are based on an innovation survey among German manufacturers of renewable power generation technologies which builds on the Community Innovation Survey, but which we adjusted to better capture companies’ perceptions of the policy mix. Employing a bivariate Tobit model we find that companies’ perceptions regarding the consistency and credibility of the policy mix are positively associated with the level of their innovation expenditures for renewable energies, and this positive link intensifies when considering the mutual interdependence of these policy mix characteristics. In contrast, we find no support for such a direct link for the comprehensiveness of the instrument mix or the coherence of policy processes. These findings suggests that future research on low-carbon and eco-innovation more broadly should pay greater attention to the characteristics of policy mixes, rather than focusing on policy instruments only. It also implies a need to rethink the consideration of policy in innovation surveys to enable better informed policy advice regarding the greening of innovation. |
| Keywords: | policy mix, credibility, consistency, coherence, comprehensiveness, ecoinnovation, renewable energy, sustainability transition, decarbonization |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:sru:ssewps:2017-19&r=ene |
| By: | Obermüller, Frank (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)) |
| Abstract: | In recent years, the installed capacities of renewable energies have steadily been increasing. This raises the question for optimal locations of renewables. Ideally, the market prices induce efficient locations. Distorting effects, i.e. non incorporation of the physical grid situations, could lead to sub-optimal regional incentives compared to a system optimal perspective. In this paper, the wind production revenues under nodal and zonal pricing are investigated. The analysis is extended to the widely used wind value factor. The analysis identifies the zonal pricing wind revenues as inefficient location signals. Location signals need to consider the grid situations. Wind revenues could face an average increase of 21% and more than 200% for certain locations. This is highly relevant to design efficient subsidy schemes or to identify regional grid and capacity extension necessities. |
| Keywords: | Optimal Wind Locations; Wind Production; Market Revenues; Market Value; Electricity System Model; Nodal Pricing; Zonal Pricing |
| JEL: | Q42 Q48 |
| Date: | 2017–09–25 |
| URL: | http://d.repec.org/n?u=RePEc:ris:ewikln:2017_009&r=ene |
| By: | Frondel, Manuel; Gerster, Andreas; Vance, Colin |
| Abstract: | Many countries have introduced Energy Performance Certificates to mitigate the information asymmetry with respect to the thermal quality of houses. Drawing on a stylized theoretical model that is coupled with comprehensive data on real estate advertisements in the German housing market, this paper investigates the causal effect of disclosing energy information on the offer prices of houses. We are particularly interested in testing whether house sellers who would not voluntarily disclose the house's energy consumption decrease the offer price upon a shift to a mandatory disclosure scheme. Employing both within-variation from panel data and an instrumental-variable approach to cope with the endogeneity of disclosure decisions, our analysis demonstrates the power of mandatory disclosure rules to increase market transparency and to reduce prices. |
| Keywords: | information asymmetry,mandatory disclosure,environmental certification |
| JEL: | D82 L15 Q58 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:684&r=ene |
| By: | Ruzive, Tafadzwa; Mkhombo, Thando; Mhaka, Simba; Mavikela, Nomahlubi; Phiri, Andrew |
| Abstract: | Our study investigates the relationship between electricity intensity and unemployment in South Africa. Our mode of empirical investigation is the quantile regressions approach which has been applied to quarterly interpolated time series data collected between 2000:01 and 2014:04. As a further development to our study, we split our empirical data into two sub-samples, the first corresponding to the pre-financial crisis period and the other corresponding to the post-financial crisis period. Our empirical results point to electricity intensity being significantly and positively correlated with unemployment in periods before the crisis at all estimated quantiles, whereas this relationship turns significantly negative in periods subsequent to the crisis at all quantile levels. In other words, since the financial crisis, increased electricity intensity (i.e. lower electricity efficiency) appears to reduce domestic unemployment rates, a result which indicates that policymakers should be discouraged from implementing electricity conversation strategies and encouraged to rely on environmental friendly methods of supplying electricity. |
| Keywords: | Electricity intensity; Unemployment; South Africa; SSA; Quantile regressions |
| JEL: | C31 C51 E24 Q43 |
| Date: | 2017–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:81717&r=ene |
| By: | Bosupeng, Mpho |
| Abstract: | The dynamic relationship between exports and energy has been an interesting area of research in macroeconomics. This paper contributes to the extant literature by examining the relationship between electricity consumption and exports revenue for forty different economies as from 1980-2012. The study commences by examining the time series for unit roots using the Augmented Dickey-Fuller (ADF) test. The results of the Johansen cointegration test reveal that twenty-one economies under investigation exhibited statistically long run affiliations between exports income and electricity consumption. Comparatively, the Saikkonen and Lu ̈tkepohl test proved that exports and electricity consumption are statistically cointegrated in the long run for all economies. The Granger causality test showed that exports income promote an increase in electricity consumption. However, exports in some economies were induced by electricity consumption. Most importantly, the validity of the feedback hypothesis is affirmed as bidirectional causal relationships between exports and electricity consumption surface in multiple economies. |
| Keywords: | exports; energy demand; electricity consumption; economic growth; feedback hypothesis. |
| JEL: | Q43 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:81756&r=ene |
| By: | Englmaier, Florian; Roider, Andreas; Stowasser, Till; Hinreiner, Lisa |
| Abstract: | We provide evidence that German public energy providers, over which municipality-level politicians hold substantial sway, systematically adjust the pricing of electric energy in response to local electoral cycles. The documented pattern is in line with both, an artificial reduction in prices before an election that needs to be countermanded by future price increases, and an artificial postponement of market-driven price increases until after the election is over. |
| JEL: | D72 D73 H44 H72 H76 K23 L33 L94 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc17:168267&r=ene |
| By: | Richard Meade (Auckland University of Technology and Cognitus Economic Insight); Magnus Soderberg (Syddansk Universitet) |
| Abstract: | We model the endogenous ownership of a monopoly utility by either investors or the firm’s customers. Ownership arises endogenously based on customers’ quality preference, which affects each ownership type’s viability. Customer ownership arises when quality preference falls below the threshold for profitable entry by investors, but above that for entry by customer-owners. When quality preferences diverge sufficiently, a profitmaximising investor-owned utility produces higher welfare than a welfare-maximising customer-owned firm, despite its higher prices. Otherwise, a customer-owned utility produces greater efficiency, quality and welfare, despite having lower-value customers. These predictions agree with empirical findings for US utilities, and find direct support using data from Electricity Distribution Businesses in New Zealand. To reflect ownership endogeneity, we instrument for ownership changes using the staggered rollout of regional air quality regulations. Our findings suggest that performance comparisons of customer- and investor-owned utilities should account for ownership endogeneity. This has implications for ownership debates, efficiency study specification, and the development of regulatory screens. |
| Keywords: | Utilities, Price, Efficiency, Quality, Welfare, Ownership |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:aut:wpaper:201709&r=ene |
| By: | Paschmann, Martin (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)); Paulus, Simon (Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI)) |
| Abstract: | One important pillar in the debate about energy-saving measures addresses energy conservation. In this paper, we focus on the deployment of advanced metering infrastructure to reduce the impact of limited information and bounded rationality of consumers. For California, we empirically analyze the influence of a statewide and policy-driven installation of advanced metering infrastructure. We apply synthetic control methods to derive a suitable control group. We then conduct a Difference-in-Differences estimation and find a significant negative impact of smart meters on monthly residential electricity consumption that ranges from 6.1 to 6.4%. Second, such an impact only occurs in non-heating periods and does not fade out over the analyzed time period. |
| Keywords: | Behavioral Economics; Bounded Rationality; Energy Conservation; Informational Feedback; Smart Meters; Residential Electricity Consumption |
| JEL: | C91 D11 D12 D14 D83 |
| Date: | 2017–09–21 |
| URL: | http://d.repec.org/n?u=RePEc:ris:ewikln:2017_008&r=ene |
| By: | Kim, S.; Pollitt, M.; Jin, Y.; Yoon, Y. |
| Abstract: | The goal of this research is to trigger the devolution of the system balancing responsibility entirely belonging to the transmission system operator (TSO) to several local distribution system operators by fairly allocating system balancing cost based on a cost-causality principle. Within the devolved system balancing scheme, distribution system operators (DSOs) have appropriate motivation for reducing the variability and uncertainty caused by units in their own area. As the number of renewable electricity sources (RES) being connected to the local distribution system increases, it would be advantageous for the TSO to share the increasing burden of the system balancing responsibility with multiple DSOs. To achieve this, we suggest that, first DSOs be designated as the representatives of their own jurisdictions with primary economic responsibility for balancing payments that are originally charged to each energy market participant. Second, this research proves that a cost-causality based cost allocation scheme(CC-CAS) is superior to an energy-amount based cost allocation scheme (currently widely used) in terms of economic efficiency. Additionally, to avoid the side effect that a DSO with a large amount of RES may face a high and risky balancing payment under the CC-CAS, this research also proposes an optimal balancing payment insurance (BPI) contract which helps the DSO hedge the risks associated with uncertain balancing payments. The goal of this research is to trigger the devolution of the system balancing responsibility entirely belonging to the transmission system operator (TSO) to several local distribution system operators by fairly allocating system balancing cost based on a cost-causality principle. Within the devolved system balancing scheme, distribution system operators (DSOs) have appropriate motivation for reducing the variability and uncertainty caused by units in their own area. As the number of renewable electricity sources (RES) being connected to the local distribution system increases, it would be advantageous for the TSO to share the increasing burden of the system balancing responsibility with multiple DSOs. To achieve this, we suggest that, first DSOs be designated as the representatives of their own jurisdictions with primary economic responsibility for balancing payments that are originally charged to each energy market participant. Second, this research proves that a cost-causality based cost allocation scheme(CC-CAS) is superior to an energy-amount based cost allocation scheme (currently widely used) in terms of economic efficiency. Additionally, to avoid the side effect that a DSO with a large amount of RES may face a high and risky balancing payment under the CC-CAS, this research also proposes an optimal balancing payment insurance (BPI) contract which helps the DSO hedge the risks associated with uncertain balancing payments. |
| Keywords: | System Balancing Responsibility, Devolution Principle, Cost-causality Principle, System Balancing Cost Allocation, Risk Hedging Contract |
| JEL: | D21 G22 L94 |
| Date: | 2017–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1738&r=ene |
| By: | Nils May; Karsten Neuhoff |
| Abstract: | Power systems with increasing shares of wind and solar power generation have higher capital and lower operational costs than traditional technologies. This increases the importance of the cost of finance for total system cost. We quantify how renewable policy design can influence cost of finance by addressing regulatory risk and facilitating hedging. We use interview data on wind power financing costs from the EU and model how long-term contracts signed between project developers and energy suppliers impact financing costs in the context of green certificate schemes. Be- tween the policy regimes, the cost of renewable energy deployment differ by 30%. |
| Keywords: | Investments, long-term contracts, financing costs, liberalization of power markets, renewable energy policies |
| JEL: | Q42 Q55 O38 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1684&r=ene |
| By: | Basher, Syed Abul; Haug, Alfred A.; Sadorsky, Perry |
| Abstract: | The impact that oil shocks have on stock prices in oil exporting countries has implications for both domestic and international investors. We derive the shocks driving oil prices from a fully-identified structural model of the oil market. We study their nonlinear relationship with stock market returns in major oil-exporting countries in a multi-factor Markov-switching framework. Flow oil-demand shocks have a statistically significant impact on stock returns in Canada, Norway, Russia, Kuwait, Saudi Arabia, and the UAE. Idiosyncratic oil-market shocks affect stock returns in Norway, Russia, Kuwait, Saudi Arabia and UAE. Speculative oil shocks impact stock returns in Canada, Russia, Kuwait and the UAE. Flow oil-supply shocks matter for the UK, Kuwait, and UAE. Mexico is the only country where stock returns are unaffected by oil shocks. These results shed important light on investor sentiment toward the relationship between oil shocks and stock markets in oil exporting countries. |
| Keywords: | Markov-switching; oil-exporting countries; oil-market shocks; stock returns |
| JEL: | E44 G15 Q43 |
| Date: | 2017–09–28 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:81638&r=ene |
| By: | M.J., Presno; M., Landajo; P., Fernandez Gonzalez |
| Abstract: | The stochastic properties of crude oil production have been examined in the literature from different perspectives, with partly non-coincident conclusions depending on model specification. In this paper the nature of the shocks affecting crude oil production is analyzed for a panel of 20 OPEC and non-OPEC countries with reference to the period from January 1973 to December 2015. We rely on a novel nonparametric panel stationarity testing approach which offers the advantage of not requiring model specification of the trend functions for the series in the panel. Our analysis detects strong evidence of non-stationarity, both globally and group-wise for the OPEC and non-OPEC countries. A case-by-case study reveals that stationarity is rejected for 8 out of the countries under study (namely, Algeria, Canada, China, Iran, Mexico, Nigeria, Qatar, and the US) for which shocks would thus have permanent effects, with stationarity being relatively more frequent among OPEC members. |
| Keywords: | Crude oil production, shocks, stationarity testing, nonparametric analysis, panel. |
| JEL: | C14 Q47 |
| Date: | 2017–09–26 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:81594&r=ene |
| By: | Yanuar Andrianto (PPM School of Management, Indonesia Author-2-Name: Teuku Fahri Rais Oebit Author-2-Workplace-Name: PPM School of Management, Indonesia.) |
| Abstract: | "Objective – The crude oil, also known as black gold, is an essential commodity for the sustainability of various industries in the world. Oil prices play an important role in world economy because it causes repercussions. For example, world oil prices plummeted at the end of 2013 and its impact created fluctuations in prices which had affected world economy badly. The aim of this research is to locate a good model that can help to predict oil price fluctuations so that industries can avoid potential negative impacts. Methodology/Technique – Data of world oil prices from 1987 to 2016 were extracted from West Texas Intermediate (WTI) and Brent Oil sources. A comparative analysis using Empirical Decomposition and Autoregressive Integrated Moving Average (ARIMA) was applied to identify differences and data were then analysed through SPSS 23. For this research, a set of models based on the smallest MAPE (Mean Absolute Percentage Error) was proposed. Findings – Results indicate that the Empirical Decomposition was a more appropriate method for predicting oil prices due to the non-linearity of oil price data. In addition, the MAPE also produced a lower error rate than the ARIMA. Novelty – In this research, world oil price volatility from West Texas Intermediate (WTI) and Brent Oil Price data were examined to predict oil price movement for future anticipations." |
| Keywords: | Forecasting, Oil Prices, Autoregressive Integrated Moving Average, ARIMA, Empirical Decomposition, West Texas Intermediate, Brent Oil Price. |
| JEL: | Q41 Q43 |
| Date: | 2017–03–27 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:jfbr120&r=ene |
| By: | Nur Dilbaz Alacahan (Canakkale Onsekiz Mart University, Department of Banking and Finance); Seda Yavuzaslan Soylemez (Canakkale Onsekiz Mart University, Department of Accounting and Tax) |
| Abstract: | The aim of this paper is to analyze the impact of petrol prices on the stock prices of energy companies traded in Istanbul Stock Exchange. To achieve this objective, daily panel data for 9 energy companies are examined for the period between 01/02/2008 and 02/26/2016. For the estimations, random effects and fixed effects panel data estimation methods are used. According to the results, changes in petrol prices effects stock prices of energy companies, negatively. Interest rates and M2 money supply affect stock prices of the energy companies, negatively. In addition to the macro variables, ROA and capital growth are the micro variables affecting stock prices of energy companies. |
| Keywords: | Petrol Prices, Stock Prices, Panel Data Analysis, Turkey |
| JEL: | E44 G12 L96 |
| Date: | 2017–10 |
| URL: | http://d.repec.org/n?u=RePEc:ana:wpaper:17006&r=ene |
| By: | Capucine Nobletz |
| Abstract: | La récente expansion des biocarburants soulève des interrogations quant à l’émergence d’une nouvelle relation entre les marchés agricoles et énergétiques. Dans ce contexte, nous analysons l’influence du développement des biocarburants sur les prix des matières premières agricoles (maïs, soja et blé) en recourant aux techniques de cointégration afin d’évaluer, dans un premier temps, les liens de long terme entre les prix des biens agricoles, du pétrole et de l’éthanol. Dans un second temps, nous analysons les dynamiques de court terme, en tenant compte de l’existence potentielle de ruptures sur la période étudiée (1997-2017). Nos résultats montrent que les effets liés au développement des biocarburants divergent en fonction de la matière agricole étudiée. Pour le maïs (composant principal de l’éthanol), l’expansion de l’éthanol américain n’a pas contribué à la hausse de son prix. Pour le soja, les liens entre son marché et les marchés énergétiques (prix du pétrole et de l’éthanol) sont plus importants. L’essor de la production du biodiésel a, en effet, contribué à la hausse de son prix. Enfin, pour le blé, à long terme, son prix dépend du prix du pétrole et de l’éthanol. Le développement des biocarburants impacte le prix du blé via un effet de substitution et via un impact sur les coûts des facteurs de production agricole. Cependant, à court terme, seules les variations du prix du pétrole tendent à impacter celles du prix du blé, via les effets sur les coûts de production |
| Keywords: | biocarburants, pétrole, matières premières agricoles, cointégration. |
| JEL: | C22 Q02 Q16 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2017-41&r=ene |
| By: | Nurul Istiqomah (Fakultas Ekonomi dan Bisnis, Universitas Sebelas Maret, Indonesia. Author-2-Name: Izza Mafruhah Author-2-Workplace-Name: Fakultas Ekonomi dan Bisnis, Universitas Sebelas Maret, Indonesia. Author-3-Name: Dewi Ismoyowati Author-3-Workplace-Name: Fakultas Ekonomi dan Bisnis, Universitas Sebelas Maret, Indonesia. Author-4-Name: Nunung Sri Mulyani Author-4-Workplace-Name: Fakultas Ekonomi dan Bisnis, Universitas Sebelas Maret, Indonesia.) |
| Abstract: | "Objective – The purpose of this study is (1) to analyse community perception in the use of biogas as an alternative energy, (2) to analyse whether variables such as income, age, education, cost savings, and livestock maintenance costs actually affect the willingness of community to use biogas, and (3) to develop a relationship among potential regional resources in the blue economy development. Methodology/Technique – The method used in this study is a collaboration between quantitative and qualitative models. For the first research objective, the qualitative theory approach focused on in-depth interviews and focus group discussions to develop a variety of potential economic relations in the implementation of the blue economy. For the second objective, descriptive statistics was used to identify differences in community perceptions on the use of biogas by the people in the Ngawi and Boyolali regencies. For third objective, model is used to analyze whether income, age, education, cost savings, and livestock maintenance costs affect community willingness to use biogas: Findings – The results show that (1) there are different community perceptions on biogas adoption in the Ngawi and Boyolali regencies, (2) variables such as income, age, education, cost savings, and livestock maintenance costs affect the willingness of community in using biogas, and (3) the blue economy concept can be developed by utilizing economic potentials in Ngawi towards an energy-independent village. Novelty – The use of biogas as an alternative energy needs to be developed so as to stimulate influential variables that can raise public awareness because the method is simple and exploits local potentials without waste." |
| Keywords: | Blue Economy; Public Awareness; Logit Regression; ABCG actors. |
| JEL: | P28 P43 |
| Date: | 2016–12–19 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:jfbr114&r=ene |
| By: | - |
| Abstract: | La presente compilación de artículos —preparados por sus autores con motivo de la convocatoria al Premio Dr. Fernando Cuevas 2010— ha sido realizada por la Unidad de Energía y Recursos Naturales (UERN) de la Sede Subregional de la CEPAL en México. Con motivo de dicha ocasión fueron invitados profesionales del sector energético de América Latina y el Caribe a presentar trabajos sobre el tema «Energía, cambio climático y desarrollo sostenible: los desafíos para América Latina». |
| Keywords: | RECURSOS ENERGETICOS, CAMBIO CLIMATICO, DESARROLLO SOSTENIBLE, RECURSOS NATURALES, COMBUSTIBLES, ENERGIA DE LA BIOMASA, RENDIMIENTO ENERGETICO, TRANSPORTE, ENERGIA ELECTRICA, ASPECTOS JURIDICOS, GOBIERNO LOCAL, FUENTES DE ENERGIA RENOVABLES, POLITICA ENERGETICA, ESTADISTICAS DE ENERGIA, ESTADISTICAS AMBIENTALES, ENERGY RESOURCES, CLIMATE CHANGE, SUSTAINABLE DEVELOPMENT, NATURAL RESOURCES, FUELS, BIOMASS ENERGY, ENERGY EFFICIENCY, TRANSPORT, ELECTRIC POWER, LEGAL ASPECTS, LOCAL GOVERNMENT, RENEWABLE ENERGY SOURCES, ENERGY POLICY, ENERGY STATISTICS, ENVIRONMENTAL STATISTICS |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col094:42140&r=ene |
| By: | Raluca-Ioana Iorgulescu (Institute for Economic Forecasting, Romanian Academy); Carmen Beatrice Păuna (Institute for Economic Forecasting, Romanian Academy); Marioara Iordan (Institute for Economic Forecasting, Romanian Academy); Tiberiu Diaconescu (Institute for Economic Forecasting, Romanian Academy); Gabriela Bilevski (Institute for Economic Forecasting, Romanian Academy); Thomas Brekke (University College of Southeast Norway, Norway); Ole Henrik Gusland (University College of Southeast Norway, Norway); Lasse Berntzen (University College of Southeast Norway, Norway) |
| Abstract: | Addressing climate change through the reduction of fossil resources dependency requires the transition from fossil-based industrial production to a bio-based (green) industrial structure. The development of bio-based industry clusters might be part of the solution. This paper introduces the ‘bioeconomy’ concept and the Triple Helix model that are useful when examining the development of green industries clusters in the emerging digital era; the Smart City model might promote new ways to create profitable and sustainable businesses. Examples of good practices and clusters for green industries from Norway are provided and some success stories including Romanian firms are presented. |
| Keywords: | green industry, bioeconomy, bio-based industry cluster, triple helix model, smart cities, Romania |
| JEL: | L86 Q55 Q57 |
| Date: | 2017–07 |
| URL: | http://d.repec.org/n?u=RePEc:rjr:wpiecf:170701&r=ene |
| By: | Yushi Kunugi (School of Political Science and Economics, and Research Institute for Environmental Economics and Management, Waseda University); Toshi H. Arimura (School of Political Science and Economics, and Research Institute for Environmental Economics and Management, Waseda University); Kazuyuki Iwata (Faculty of Economics, Matsuyama University); Eiji Komatsu (Laboratory for Ecological Reconstruction Science); Yoshie Hirayama (Laboratory for Ecological Reconstruction Science) |
| Abstract: | Concentrations of particulate matter 2.5 (PM 2.5) are high in the Tokyo metropolitan area, even though concentrations of PM10 have dropped dramatically since the implementation of the NOx-PM Act. Currently, monitored concentration levels continue to exceed the designated ambient air quality standard set by the Japanese Ministry of the Environment. To our knowledge, no study has investigated a cost-efficient strategy to reduce PM 2.5 concentration levels in the Tokyo metropolitan area. This is the first study to examine a proper control strategy for Japan by developing an integrated model that includes both aerosol and economic models. The simulation results show that prefectures in the Tokyo metropolitan area cannot achieve the standards by relying on their own efforts to reduce PM 2.5. That is, prefectural governments in Tokyo metropolitan areas need to cooperate with prefectures outside of the area to improve their PM 2.5 concentration levels. Thus, we simulated policies under the assumption that emissions from other sources are reduced to evels such that the PM 2.5 concentration declines by approximately 18 µg/m3. We first simulated an efficient policy, i.e., the implementation of a pollution tax. We found that the total abatement cost to meet the air quality standard using the cost-efficient strategy is approximately 142.7 billion yen. We also simulated a policy in which we emphasize the equality of burden, i.e., each prefecture’s government reduces emissions by the same proportion. In this scenario, the total cost of the strategy that maintains high equality among prefectures is approximately 416.3 billion yen. Thus, when authorities focus on other criteria such as equality, cost-efficiency deteriorates greatly. Therefore, to attain cleaner air, it is important that authorities make informed decisions when selecting a strategy. |
| Keywords: | Particulate matter 2.5, cost-efficiency, equality, control strategy, pollution tax |
| URL: | http://d.repec.org/n?u=RePEc:wap:wpaper:1709&r=ene |
| By: | Simplice Asongu (Yaoundé/Cameroun); Sara Le Roux (Oxford, UK); Nicholas Biekpe (Cape Town, South Africa) |
| Abstract: | This study examines how information and communication technology (ICT) complements carbon dioxide (CO2) emissions to influence inclusive human development in forty-four Sub-Saharan African countries for the period 2000-2012. ICT is measured with internet penetration and mobile phone penetration. The empirical evidence is based on Generalised Method of Moments. The findings broadly show that ICT can be employed to dampen the potentially negative effect of environmental pollution on human development. We establish that: (i) ICT complements CO2 emissions from liquid fuel consumption to increase inclusive development; (ii) ICT interacts with CO2 intensity to negatively affect inclusive human development and (iii) the net effect on inclusive human development is positive from the complementarity between mobile phones and CO2 emissions per capita. Conversely, we also establish evidence of net negative effects. Fortunately, the corresponding ICT thresholds at which these net negative effects can be completely dampened are within policy range, notably: 50 (per 100 people) mobile phone penetration for CO2 emissions from liquid fuel consumption and CO2 intensity. Theoretical and policy implications are discussed. |
| Keywords: | CO2 emissions; ICT; Economic development; Africa |
| JEL: | C52 O38 O40 O55 P37 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:17/038&r=ene |
| By: | Growitsch, Christian; Paulus, Simon; Wetzel, Heike |
| Abstract: | In this article, we analyze the relative CO2 emission performance across 48 states in the U.S. using a two-stage empirical approach. In the first stage, we identify the states that followed best practice by applying benchmarking techniques. In the second stage, we regress our CO2 emission performance indicators on the state-specific national gas prices, the states’ CO2 regulatory policies and a number of other state-specific factors in order to identify the main drivers of the developments. |
| JEL: | C61 D24 L94 Q58 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc17:168284&r=ene |
| By: | Simplice Asongu (Yaoundé/Cameroun); Sara Le Roux (Oxford, UK); Nicholas Biekpe (Cape Town, South Africa) |
| Abstract: | This study examines how increasing ICT penetration in sub-Saharan Africa (SSA) can contribute towards environmental sustainability by decreasing CO2 emissions. The empirical evidence is based the Generalised Method of Moments and forty-four countries for the period 2000-2012. ICT is measured with internet penetration and mobile phone penetration while CO2 emissions per capita and CO2 emissions from liquid fuel consumption are used as proxies for environmental degradation. The following findings are established: First, from the non-interactive regressions, ICT (i.e. mobile phones and the internet) does not significantly affect CO2 emissions. Second, with interactive regressions, increasing ICT has a positive net effect on CO2 emissions per capita while increasing mobile phone penetration alone has a net negative effect on CO2 emissions from liquid fuel consumption. Policy thresholds at which ICT can change the net effects from positive to negative are computed and discussed. These policy thresholds are the minimum levels of ICT required, for the effect of ICT on CO2 emissions to be negative. Other practical implications for policy and theory are discussed. |
| Keywords: | CO2 emissions; ICT; economic development; Sub-Saharan Africa |
| JEL: | C52 O38 O40 O55 P37 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:agd:wpaper:17/039&r=ene |
| By: | Niu, Honglei; Lekse, William |
| Abstract: | Historically, global urbanization has been an essential ingredient for national economic growth and beneficial social transformation. However, with the global urban population currently generating two-thirds of all carbon emissions, global policymakers are urging mayors and regional leaders to make difficult decisions to reduce the negative impacts of urbanization on the environment. The authors begin their examination of the implications of local and regional factors by applying the Dynamic Spatial Durbin Panel Model to empirically examine aspects of developing low-carbon strategies for the rapidly expanding size and number of the world's urban areas. Their results indicate that the contribution of urbanization to carbon emissions can be positively affected when regional policy makers collaborate to focus on spillover effects to simultaneously manage the scope, diversity, and complexity of economic and environmental issues from the perspective of creating a balance between rapid urbanization and relevant regional factors. Regional leaders can make a difference by creating both short-term goals and long-term strategies for maintaining low-carbon urbanization, nurturing regional coordination, monitoring and managing eco-friendly regional spillover effects, supporting low-carbon technology innovations, and maintaining optimal city size. |
| Keywords: | carbon emission effect,urbanization,local and regional focus,STIRPAT,dynamic spatial Durbin error model,panel data |
| JEL: | Q51 R11 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwedp:201762&r=ene |
| By: | Helene Naegele; Aleksandar Zaklan |
| Abstract: | Carbon leakage is an issue of major interest in both academic and policy debates about the effectiveness of unilateral climate policy addressing global externalities. The debate is particularly salient in Europe, where the EU Emissions TradingSystem (EU ETS) covers emissions of many traded sectors. In a first step, we review how carbon leakage and the pollution haven effect are defined and identified in the literature. In a second step, we evaluate whether the emission cost introduced by the EU ETS has caused carbon leakage in European manufacturing. We compute trade flows in embodied carbon and value, using GTAP trade and input-output data and administrative data from the EU ETS. We evaluate theeffect of four measures of environmental stringency on both net trade flows and bilateral trade flows. We do not find evidence that the EU ETS has caused carbon leakage. |
| Keywords: | Carbon leakage, pollution haven, EU ETS, cap-and-trade, CO2 emissions, policy evaluation |
| JEL: | F18 Q58 Q54 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1689&r=ene |
| By: | Eka Siskawati (Economic and Business Faculty, Brawijaya University, Malang, 65142, Indonesia Author-2-Name: Eko Ganis Sukoharsono Author-2-Workplace-Name: Brawijaya University, Malang, Indonesia Author-3-Name: Rosidi Author-3-Workplace-Name: Brawijaya University, Malang, Indonesia Author-4-Name: Abdul Ghofar Author-4-Workplace-Name: Brawijaya University, Malang, Indonesia) |
| Abstract: | "Objective – The purpose of this study is to provide the argument that carbon disclosure must not only provide economic but also non-economic information. The more comprehensive disclosure of carbon emission is expected to change the behavior of industries in realizing a more environmentally friendly production process. Methodology/Technique – Data were collected through interviews and observation of documentations from three parties the BOWL company, the Ministry of Forest and Environment and the Ministry of Industry. Findings – Results show that the rating program of the industry’s performance in environmental management (PROPER) from the government’s perspective is an instrument which can encourage and establish the industry’s compliance and awareness of environmental management regulations. Novelty – This paper also focused on analysing how the government applies regulation approaches in changing the industry’s paradigm to undertake ethical businesses." |
| Keywords: | "Greenhouse Gases Emissions, Carbon Emissions Disclosure, Environmental Accountability, Non-Economic Information, Environmental Impact Assessment." |
| JEL: | D82 M14 |
| Date: | 2016–12–23 |
| URL: | http://d.repec.org/n?u=RePEc:gtr:gatrjs:afr115&r=ene |