Does Energy Policy Risk Threaten Energy Sources Diversification?

Zokir Mamadiyarov (), Mansur Eshov (), Dinora Otakhonova (), Sarbinaz Utegenova (), Khamid Sabirov (), Adam Marks () and Nu'monkhon Bahodirov ()
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Zokir Mamadiyarov: Department of Economics, Mamun University, Khiva, Uzbekistan; & Department of Finance and Tourism, Termez University of Economics and Service, Termez, Uzbekistan; & Department of Bank Accounting and Auditing, Tashkent State University of Economics, Tashkent, Uzbekistan
Mansur Eshov: Alfraganus University, Tashkent, Uzbekistan
Dinora Otakhonova: Department of Economics, Urgench State University named after Abu Rayhan Biruni, Urgench, Uzbekistan
Sarbinaz Utegenova: Department of Accounting and Audit, Karakalpak State University, Nukus, 230100, Uzbekistan
Khamid Sabirov: Department of Economics, Urgench Ranch University of Technology, Urgench 220100, Uzbekistan
Adam Marks: College of Business Administration, University of Sharjah, Sharjah, UAE
Nu'monkhon Bahodirov: Faculty of Industrial Management, Fergana State Technical University, Fergana, 150100, Uzbekistan

International Journal of Energy Economics and Policy, 2025, vol. 15, issue 5, 730-740

Abstract: Recently, to enhance energy sources diversification is becoming on the main priorities in the world. However, effective diversification of energy sources is affected by risks associated with energy policy. In this context, the study explores the effect of energy policy risk on energy sources diversification of the panel of 64 countries spanning the period from 2000 to 2018, employing Method of Moments Quantile Regression. The findings indicate that energy policy risk negatively influences on energy sources diversification across all the quantiles, 10-90%. Moreover, the impact of Chinese energy investment on energy sources diversification is investigated using Difference-In-Differences method since Chinese energy investment might serve as an additional factor shaping energy policy in the region. The results show that Chinese energy investment also has a negative effect of energy sources diversification. The policymakers should implement effective policies considering those factors in order to achieve productive diversification of energy sources.

Keywords: Energy Policy Risk; Energy Sources Diversification; MMQR; DID Method (search for similar items in EconPapers)
Date: 2025
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DOI: 10.32479/ijeep.21140

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