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Why the same degree of economic policy uncertainty can produce different outcomes in energy efficiency? New evidence from China

Wei Wei, Haiqing Hu and Chun-Ping Chang

Structural Change and Economic Dynamics, 2022, vol. 60, issue C, 467-481

Abstract: This research investigates the distributional effects of economic policy uncertainty (EPU) on energy efficiency by employing the dynamic panel quantile regression method on annual data of 39 cities in China from 2003 to 2019. The estimation results present that EPU has a negative influence on energy efficiency in median and upper efficiency cities, while subsample analysis exhibits that greater EPU brings about an even lower energy efficiency performance. Moreover, the negative effects are stronger in central and western cities and weaker in eastern cities, indicating that cities with a greater economic foundation and higher technology development can more easily handle EPU's effects on energy efficiency, thus partly weakening the negative influence. Overall, we demonstrate the influences of EPU on energy efficiency differ remarkably at various quantiles of the distribution in Chinese cities, and our findings contribute to the existing literature in examining the different impacts of EPU on said efficiency.

Keywords: Economic policy uncertainty; Energy efficiency; Quantile regression; Panel data (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1016/j.strueco.2022.01.001

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