SOURCES OF ENERGY INTENSITY CHANGE OF THAILAND'S STEEL INDUSTRY IN THE DECADE OF GLOBAL TURBULENT TIME

Paitoon Wiboonchutikula (), Bundit Chaivichayachat and Jaruwan Chontanawat
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Paitoon Wiboonchutikula: Faculty of Economics, Chulalongkorn University, Bangkok, Thailand
Jaruwan Chontanawat: Department of Social Sciences and Humanities, School of Liberal Arts King Mongkut's University of Technology, Thonburi, Bangkok, Thailand

The Singapore Economic Review (SER), 2014, vol. 59, issue 03, 1-34

Abstract: The study aims at finding the energy intensity and the sources of the changes of the energy intensity of the steel and steel products industry in Thailand using the firm level data collected from the surveys and interviews of steel firms in 2005 and 2012. The study finds that the energy intensity of the industry during the decade of domestic and global economic turbulent time in the 2000s fluctuated. The intensity declined immediately after recovering from the 1997 financial and currency crises but moved in an inverted U-shaped curve when the industry went through the various changes of production structure during 2003 to 2010. The decomposition analysis based on the logarithmic mean Divisia index method finds that the source of the changes of the energy intensity of the industry was dominated by the structural change effect. The fluctuation of the energy intensity was found despite a persistent decline, albeit relatively small, in the energy intensity of individual subsectors. This calls for the need to strengthen the effect of subsector energy intensity changes to help reduce the energy intensity of the industry in the long term. The study results imply four policy measures the government should use to induce steel firms to reduce their energy intensity and thus use the energy in the most efficient way.

Keywords: Energy intensity; Thailand's steel industry; decomposition analysis (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1142/S0217590814500271

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