Extreme climate, innovative ability and energy efficiency

Hai-jie Wang and Kai Tang

Energy Economics, 2023, vol. 120, issue C

Abstract: It is of great significance to explore the effect and mechanism of extreme climate on energy efficiency. In theory, extreme climate can stimulate the forcing effect to improve the level of innovation ability and energy efficiency in the long run. Empirically, this study measures the comprehensive level of extreme climate, innovation ability, and energy efficiency of 236 cities in China from 2011 to 2019 and then conducts econometric analysis. The results show that extreme climate significantly plays a forcing role for the improvement of energy efficiency. Innovation ability is also an important intermediary mechanism through which extreme climate influences energy efficiency. The impact of extreme climate on energy efficiency has significant regional heterogeneity, and the impact on peripheral cities is greater than that on core cities, showing the characteristics of a diminishing marginal effect. In order to better cope with extreme climate and improve energy efficiency, it is necessary to adhere to the combination of an effective market and promising government, increase financial investment in dealing with extreme climate, and promote energy transformation.

Keywords: Extreme climate; Innovation ability; Energy efficiency (search for similar items in EconPapers)
JEL-codes: O13 O18 R11 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:120:y:2023:i:c:s0140988323000841

DOI: 10.1016/j.eneco.2023.106586

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