Accounting for unobserved management in renewable energy & growth

Angeliki N. Menegaki

Energy, 2013, vol. 63, issue C, 345-355

Abstract: The paper employs a management random parameters frontier stochastic frontier and a simple frontier stochastic model to benchmark European countries according to their management efficiency in growth and renewable energy development. The results come from an empirical application of a panel with 31 European countries over a 14 year old period using a translog type stochastic frontier production function. In particular the paper focuses on results from a management random coefficients model and compares results with the conventional stochastic frontier model with inputs such as renewable energy, fossil fuel energy, employment and capital. The results suggest that the interaction of renewable energy with management affects growth in Europe and that the technical efficiency estimated by the management model is by 6.05% higher than the one produced by the simple stochastic frontier model.

Keywords: Management; Random coefficients; Renewable energy; Stochastic frontier; Technical efficiency (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:63:y:2013:i:c:p:345-355

DOI: 10.1016/j.energy.2013.10.057

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