Energy Effi ciency in Rent Seeking Economies: Is Credit Capable of Breaking the Energy Curse?

Dmitry Burakov

International Journal of Energy Economics and Policy, 2015, vol. 5, issue 3, 677-685

Abstract: In this article, we set ourselves a task of determining a potential of using credit for improving energy effi ciency in the economy of rent seeking. Based on cross-country analysis and using channels approach to estimation of institutions and market s effi ciency we come to conclusion that persistently low energy effi ciency in East European countries may be a result of low quality market institutions. Testing a hypothesis of credit being the source of improving energy effi ciency (e.g., through introduction and granting energy effi cient loans) showed that the effect of credit channel is negative in case of low quality institutions in the economy and low elasticity of national markets. On opposite, credit is capable of breaking the energy curse, when successful institutional infrastructure is functioning, and competitive environment takes its place when geographical and spatial features are taken into account.

Keywords: Energy Effi ciency; Rent Seeking; Credit Market (search for similar items in EconPapers)
JEL-codes: E02 G21 O13 Q43 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2015-03-06

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