The Impact of the Government Policy on the Energy Efficient Gap: The Evidence from Ukraine

Oleksii Lyulyov, Tetyana Pimonenko, Aleksy Kwilinski, Henryk Dzwigol, Mariola Dzwigol-Barosz, Vladyslav Pavlyk and Piotr Barosz
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Tetyana Pimonenko: Department of Marketing, Sumy State University, 40007 Sumy, Ukraine
Aleksy Kwilinski: The London Academy of Science and Business, 120 Baker Street, London W1U 6TU, UK
Henryk Dzwigol: Department of Management and Logistics, Faculty of Organization and Management, Silesian University of Technology, 26-28 Roosevelt Street, 41-800 Zabrze, Poland
Mariola Dzwigol-Barosz: Department of Management and Logistics, Faculty of Organization and Management, Silesian University of Technology, 26-28 Roosevelt Street, 41-800 Zabrze, Poland
Vladyslav Pavlyk: Department of Marketing, Sumy State University, 40007 Sumy, Ukraine
Piotr Barosz: Department of Management and Logistics, Faculty of Organization and Management, Silesian University of Technology, 26-28 Roosevelt Street, 41-800 Zabrze, Poland

Energies, 2021, vol. 14, issue 2, 1-13

Abstract: This paper aims to check the impact of investment and institutional determinants on the energy efficiency gap. The findings of the bibliometric analysis confirmed the growth of research interests in identifying the core determinants of the energy efficiency gap. The central hypothesises are: the increasing quality of the institutions leads to an increase of green investments in the energy sector and the dual relationships between investment and institutional determinants lead to additional synergy effects, which allow boosting the decline of energy efficiency gaps of the national economy. For the analysis, the times series were collected from the World Data Bank, Eurostat, Bloomberg, for Ukraine for the period of 2002–2019. The following methods were used: the unit root test—for checking the stationarity of data—and the Johansen test and VEC-modelling—for the cointegration analysis. The findings prove that to reduce the energy efficiency gaps in Ukraine by 1% next year, it is necessary to increase green energy investments by 1.5% this year, and the political stability and public perception of corruption by 3% and 1%. The increase of the public perception of corruption by 1.47 points and of political stability by 2.38 points leads to maximising the recovery speed of the Ukrainian energy sector. Thus, while developing the policy to decrease the energy efficiency gaps, the Ukrainian government should consider the level of public perception of corruption and political stability.

Keywords: energy policy; gap; sustainable development; green economy; energy (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

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