Causal effects of PetroCaribe on sustainable development: a synthetic control analysis
Acel Jardon (),
Onno Kuik () and
Richard Tol ()
Working Paper Series from Department of Economics, University of Sussex Business School
We examine the causal effects of the energy subsidy programme PetroCaribe in the three dimensions of sustainable development: economic, social and environmental. We use the synthetic control method to construct a counterfactual and compare it to the outcomes of the beneficiary countries and thus estimate the magnitude and direction of the PetroCaribe effect. PetroCaribe had a positive effect on economic growth in most of the beneficiary countries without a deterioration of their environmental quality. However, this economic boost was not followed by an improvement in social development.
Keywords: energy subsidy; synthetic control method; sustainable development (search for similar items in EconPapers)
JEL-codes: Q43 Q48 Q54 Q56 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev, nep-ene and nep-env
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Persistent link: https://EconPapers.repec.org/RePEc:sus:susewp:0918
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