How to promote the growth of new energy industry at different stages?

Boqiang Lin () and Bin Xu

Energy Policy, 2018, vol. 118, issue C, 390-403

Abstract: China is currently the world's largest emitter of carbon dioxide (CO2). Vigorously developing new energy sources has become an important way to reduce CO2 emissions. Therefore, more and more scholars have studied effective ways to promote the development of new energy industry. However, most of the existing research use single-equation linear models or static models to study the driving forces of the new energy industry. This not only ignores the large number of dynamic relationships between economic variables, but also produces endogeneity problems. In order to overcome the shortcomings of existing research, this paper uses vector autoregressive model to study the new energy industry. The results show that energy consumption structure has a positive effect on the new energy industry in the short run, but the effect is limited in the long run. The impact of the agriculture industry is gradually narrowing over time due to the gradual reduction of crop acreage. However, the influence of economic growth is positive both in the short and long run. This is due to the gradual optimization of industrial structure. Technological progress produces a similar impact, owing to continued investment in research and development funding as well as research and development personnel.

Keywords: New energy industry; Driving forces; Vector autoregression model (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301421518302192
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:118:y:2018:i:c:p:390-403

DOI: 10.1016/j.enpol.2018.04.003

Access Statistics for this article

Energy Policy is currently edited by N. France

More articles in Energy Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().