Evaluating the Dynamic Energy Production Efficiency in APEC Economies

Dan Wu, Ching-Cheng Lu, Xiang Chen, Pei-Chieh Tu, An-Chi Yang and Chih-Yu Yang
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Dan Wu: Teaching Center, Zhejiang Open University, 42 Jiaogong Road, Hangzhou 310012, China
Xiang Chen: China Academy of Financial Research, Zhejiang University of Finance and Economics, No. 18, Xueyuan Street, Xiasha Higher Education Park, Hangzhou 310018, China
Pei-Chieh Tu: Department of Applied Economics, Fo Guang University, No. 160, Linwei Rd., Jiaosi, Yilan County 262307, Taiwan
An-Chi Yang: Department of Economics, Soochow University, No. 56, Section 1, Kueiyang Street, Chungcheng District, Taipei City 100, Taiwan
Chih-Yu Yang: Department of Economics, Soochow University, No. 56, Section 1, Kueiyang Street, Chungcheng District, Taipei City 100, Taiwan

Energies, 2021, vol. 14, issue 14, 1-20

Abstract: This study introduces the translation adjustment model of Seiford and Zhu (2002) into dynamic DEA models to measure and analyze the dynamic energy efficiency of Asia-Pacific Economic Cooperation (APEC) economies from 2010 to 2014. The APEC economies are divided into annual energy and overall energy efficiency ratings, and improvement directions are proposed for the different variables. With the proposal of magnitude, this study discusses the changes in intertemporal conversion variables and proposes suggestions for improvement. Finally, this study analyzes the implications of energy investment and the efficiency policies of APEC economies. The results show that economies with the lowest overall energy efficiency ratings have great potential for improvement. Reducing capital stock, labor, fossil fuel consumption, and CO 2 emissions while increasing GDP can increase energy efficiency ratings. However, economies do not want to reduce the state’s capital stock, and labor and population birth adjustments are difficult. Energy efficiency can only start by adjusting the consumption of fossil fuels, CO 2 emissions, and GDP. The results indicate that to improve energy efficiency and reduce fossil fuel consumption and CO 2 emissions, economies are expected to increase their GDP unless they enact cuts through policy and technical approaches, appropriately adjust their energy policies, and actively develop new energy technologies to effectively reduce CO 2 emissions and achieve optimal energy efficiency.

Keywords: dynamic DEA; translation adjustment; energy efficiency; APEC; CO 2 emissions; GDP (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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