Is China’s Manufacturing Industry Efficient? Evidence from an Energy-Rebound Effect Perspective

Guangyu Chen, Boqiang Lin () and Bin Ye

Emerging Markets Finance and Trade, 2018, vol. 54, issue 10, 2245-2257

Abstract: Majority of the increase in global energy consumption is from China; hence, studying energy issues, especially in China’s manufacturing industry (CMI), is worthwhile and of much interest in the academic field. Based on the translog cost function, we develop a research framework to study the rebound effect of CMI. Considering the effect of asymmetric energy price, we augment the energy-cost function with asymmetric influence constraint of energy price. Again, we add time series data of CMI’s capital, labor, energy, and mid-input to the model to calculate the direct rebound effect of CMI. We find that the rebound effect of CMI is 44.2%, and CMI still has large energy-conservation potentials. Based on the results of this study, some policy recommendations are provided.

Date: 2018
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DOI: 10.1080/1540496X.2018.1471394

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