Skip to main content
Advanced Search

Filters: Tags: Economic growth (X)

19 results (31ms)   

View Results as: JSON ATOM CSV
This paper uses a panel threshold regression (PTR) model to investigate the influence that energy prices have on renewable energy development under different economic growth rate regimes. The empirical data are obtained from each of the OECD member-countries over the period from 1997 to 2006. We show that there is one threshold in the regression relationship, which is 4.13% of a one-period lag in the annual gross domestic product (GDP) growth rate. The consumer price index (CPI), in so far as it relates to variations in energy, is significantly positively correlated with the contribution of renewables to energy supply in the regime with higher-economic growth, but there is no relationship in the regime with lower...
As wind power development continues at a rapid pace in the United States, there is increasing interest in its economic impacts. Because good wind resources are typically far from electrical loads, wind power plants are often built in rural areas. The economic impacts that arise from building and operating a power plant can be significant but are often not considered by public utility commission processes. Although these impacts vary from state to state because of the differences in wind resource and state infrastructure, economic development from new wind provides important impacts from necessary power system expansion and should play a more prominent role in decision-making processes. This paper uses the National...
Categories: Publication; Types: Citation; Tags: Economic growth, energy, growth
The mathematical conditions for the existence of macroeconomic production functions that are state functions of the economic system are pointed out. The output elasticities and the elasticities of substitution of energy-dependent Cobb-Douglas, CES and LinEx production functions are calculated. The output elasticities, which measure the productive powers of production factors and whose numerical values have been obtained for Germany, Japan, and the USA, are for energy much larger and for labor much smaller than the cost shares of these factors. Energy and its conversion into physical work accounts for most of the growth that mainstream economics attributes to “technological progress” and related concepts. It decisively...
Power generation using biomass could provide substantial environmental and socio-economic benefits. Production of the feedstocks to fuel biomass power plants can either add to potential environmental gains or contribute to the environmental problems which the agriculture and forestry industries already face. Likewise, the biomass energy infrastructure can help strengthen agricultural economies or speed the decline of rural communities. The purpose of this paper is to suggest a regional approach to ensure that energy crop production will proceed in an ecologically and economically sustainable way. At this juncture, we have the opportunity to build into the system some ecological and socio-economic values which have...
The mathematical conditions for the existence of macroeconomic production functions that are state functions of the economic system are pointed out. The output elasticities and the elasticities of substitution of energy-dependent Cobb-Douglas, CES and LinEx production functions are calculated. The output elasticities, which measure the productive powers of production factors and whose numerical values have been obtained for Germany, Japan, and the USA, are for energy much larger and for labor much smaller than the cost shares of these factors. Energy and its conversion into physical work accounts for most of the growth that mainstream economics attributes to “technological progress” and related concepts. It decisively...
This paper uses a panel threshold regression (PTR) model to investigate the influence that energy prices have on renewable energy development under different economic growth rate regimes. The empirical data are obtained from each of the OECD member-countries over the period from 1997 to 2006. We show that there is one threshold in the regression relationship, which is 4.13% of a one-period lag in the annual gross domestic product (GDP) growth rate. The consumer price index (CPI), in so far as it relates to variations in energy, is significantly positively correlated with the contribution of renewables to energy supply in the regime with higher-economic growth, but there is no relationship in the regime with lower...
The purpose of this study is to determine the direction causality between nuclear energy consumption and economic growth in OECD countries. The empirical model that includes capital and labor force as the control variables is estimated for the panel of fourteen OECD countries during the period 1980–2007. Apart from the previous studies in the nuclear energy consumption and economic growth relationship, this study utilizes the novel panel causality approach, which allows both cross-sectional dependency and heterogeneity across countries. The findings show that there is no causality between nuclear energy consumption and economic growth in eleven out of fourteen cases, supporting the neutrality hypothesis. As a sensitivity...
This study utilizes the Johansen cointegration technique, the Granger non-causality test of Toda and Yamamoto (1995), the generalized impulse response function, and the generalized forecast error variance decomposition to examine the dynamic interrelationship among nuclear energy consumption, real oil price, oil consumption, and real income in six highly industrialized countries for the period 1965–2008. Our empirical results indicate that the relationships between nuclear energy consumption and oil are as substitutes in the U.S. and Canada, while they are complementary in France, Japan, and the U.K. Second, the long-run income elasticity of nuclear energy is larger than one, indicating that nuclear energy is a...
We present a model of growth driven by energy use and endogenous factoraugmenting technological change. Both the rate and direction of technological progress are endogenous. The model captures four main stylized facts: total energy use has increased; energy use per hour worked increased slightly; energy efficiency has improved; and the value share of energy in GDP has steadily fallen. We study how energy conservation policies affect growth over time and the long run. Policies that reduce the level of energy use are distinguished from those that reduce the growth rate of energy inputs. Although these policies may stimulate innovation, they unambiguously depress output levels. The former policy has no impact on long-run...
Categories: Publication; Types: Citation; Tags: economic growth, energy, innovation.
As wind power development continues at a rapid pace in the United States, there is increasing interest in its economic impacts. Because good wind resources are typically far from electrical loads, wind power plants are often built in rural areas. The economic impacts that arise from building and operating a power plant can be significant but are often not considered by public utility commission processes. Although these impacts vary from state to state because of the differences in wind resource and state infrastructure, economic development from new wind provides important impacts from necessary power system expansion and should play a more prominent role in decision-making processes. This paper uses the National...
Categories: Publication; Types: Citation; Tags: Economic growth, energy, growth
We present a model of growth driven by energy use and endogenous factoraugmenting technological change. Both the rate and direction of technological progress are endogenous. The model captures four main stylized facts: total energy use has increased; energy use per hour worked increased slightly; energy efficiency has improved; and the value share of energy in GDP has steadily fallen. We study how energy conservation policies affect growth over time and the long run. Policies that reduce the level of energy use are distinguished from those that reduce the growth rate of energy inputs. Although these policies may stimulate innovation, they unambiguously depress output levels. The former policy has no impact on long-run...
Categories: Publication; Types: Citation; Tags: economic growth, energy, innovation.
This paper sets the context for the development of tidal current technology in the face of impending climate change and so called 'peak oil'. Siting requirements are specified for tidal turbines and a general overview of the different technologies under development is given. Specific and detailed descriptions of leading Marine Current Turbine's technology are also highlighted. The paper considers the likely environmental impact of the technology, considering in particular possible ( perceived and real) risks to marine wildlife, including birds. It concludes by indicating the planned future developments, and the scale and speed of implementation that might be achieved.
As wind power development continues at a rapid pace in the United States, there is increasing interest in its economic impacts. Because good wind resources are typically far from electrical loads, wind power plants are often built in rural areas. The economic impacts that arise from building and operating a power plant can be significant but are often not considered by public utility commission processes. Although these impacts vary from state to state because of the differences in wind resource and state infrastructure, economic development from new wind provides important impacts from necessary power system expansion and should play a more prominent role in decision-making processes. This paper uses the National...
Categories: Publication; Types: Citation; Tags: Economic growth, energy, growth
This paper sets the context for the development of tidal current technology in the face of impending climate change and so called 'peak oil'. Siting requirements are specified for tidal turbines and a general overview of the different technologies under development is given. Specific and detailed descriptions of leading Marine Current Turbine's technology are also highlighted. The paper considers the likely environmental impact of the technology, considering in particular possible ( perceived and real) risks to marine wildlife, including birds. It concludes by indicating the planned future developments, and the scale and speed of implementation that might be achieved.
The mathematical conditions for the existence of macroeconomic production functions that are state functions of the economic system are pointed out. The output elasticities and the elasticities of substitution of energy-dependent Cobb-Douglas, CES and LinEx production functions are calculated. The output elasticities, which measure the productive powers of production factors and whose numerical values have been obtained for Germany, Japan, and the USA, are for energy much larger and for labor much smaller than the cost shares of these factors. Energy and its conversion into physical work accounts for most of the growth that mainstream economics attributes to “technological progress” and related concepts. It decisively...
This paper presents a societal level exergy analysis approach developed to analyse transitions in the way that energy is supplied and contributes to economic growth in the UK, the US, Austria and Japan, throughout the last century. We assess changes in exergy and useful work consumption, energy efficiency and related GDP intensity measures of each economy. The novel data provided elucidate certain characteristics of divergence and commonality in the energy transitions studied. The results indicate that in each country the processes of industrialization, urbanisation and electrification are characterised by a marked increase in exergy and useful work supplies and per capita intensities. There is a common and continuous...
Policy discussions concerning global warming have been based on the assumption that C02 emissions from developing countries cannot be limited without slowing their economic growth. The promise of energy efficiency is clear. However, only a correct shift in development funding and investment to support energy efficiency would allow this promise to be fulfilled. This paper shows that such an assumption is wrong. In fact, these nations can limit fossil fuel use and C02 emissions while at the same time expanding economic growth. The path to this is energy efficiency, which allows resources to be shifted from wasteful expenditure on energy to more productive sectors. The result is that less C02 is emitted while Third...
Electricity generation is the main source of energy-related greenhouse gas emissions and lighting uses one-fifth of its output. Solid-state lighting using light-emitting diodes (LEDs) is poised to reduce this value by at least 50%, so that lighting will then use less than one-tenth of all electricity generated. LED lighting will provide reductions of at least 10% in fuel consumption and carbon dioxide emissions from power stations within the next 5–10 years. Even greater reductions are likely on a 10–20-year timescale.
Power generation using biomass could provide substantial environmental and socio-economic benefits. Production of the feedstocks to fuel biomass power plants can either add to potential environmental gains or contribute to the environmental problems which the agriculture and forestry industries already face. Likewise, the biomass energy infrastructure can help strengthen agricultural economies or speed the decline of rural communities. The purpose of this paper is to suggest a regional approach to ensure that energy crop production will proceed in an ecologically and economically sustainable way. At this juncture, we have the opportunity to build into the system some ecological and socio-economic values which have...