Energy Sources Diversification Towards Achieving Energy Independence

Raya Karlibaeva (), Feruz Matkarimov (), Fakhriddin Isaev (), Olim Tursunov (), Nilufar Rajabova () and Karomat Atabayeva ()
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Raya Karlibaeva: Department of Finance and Tourism, Termez University of Economics and Service, Termez, Uzbekistan; & Department of Finance, Tashkent State University of Economics, Tashkent, Uzbekistan
Feruz Matkarimov: Department of Business Management, Mamun University, Khorezm region, Urgench, Uzbekistan
Fakhriddin Isaev: Department of Finance and Tourism, Termez University of Economics and Service, Termez, Uzbekistan; & Research Center CEDR under the Tashkent State University of Economics, Tashkent, Uzbekistan
Olim Tursunov: Department of International Scientific Journals and Rankings, Alfraganus University, Tashkent, Uzbekistan
Nilufar Rajabova: Urgench State Pedagogical Institute, Urgench, Uzbekistan
Karomat Atabayeva: Department of Economics, Urgench State University named after Abu Rayhon Beruni, Urgench, Uzbekistan

International Journal of Energy Economics and Policy, 2025, vol. 16, issue 1, 733-744

Abstract: This study, for the 1st time, reviews the cause of energy sources diversification on energy independence risk. To achieve this objective, the dataset across 64 countries spanning the time in the middle of 2000 and 2018 is used. For empirical analysis, method of moments quantile regression (MMQR) to cope with heteroscedasticity, partially linear functional-coefficient (PLFC) model to run nonlinear analysis, also difference-in-differences (DID) method to deal with endogeneity of Chinese energy investment are employed. The MMQR findings show that energy sources diversification has an adverse cause to energy independence risk across all the quantiles, 10-90%, and the development stage of the nations. Moreover, PLFC estimations also reveal that nonlinear relation is significant and depends on stage of economic development. Further, our findings obtained by DID method represent that Chinese energy investment is beneficial to cope with energy independence risk.

Keywords: Energy Independence Risk; Energy Sources Diversification; Method of Moments Quantile Regression (search for similar items in EconPapers)
Date: 2025
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DOI: 10.32479/ijeep.22464

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