Manuscript title: The survival of global energy imports and the impact of geopolitical risks

IF 13.6 2区 经济学 Q1 ECONOMICS
Shiguang Peng , Le Wang , Yongyao Chen
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引用次数: 0

Abstract

Based on Harmonized System 6-digit code data from 1995 to 2022, this study uses survival analysis to assess the survival of global energy imports, which characterizes resilience. Next, it quantitatively investigates the impact of geopolitical risks in exporting countries on import survival. The key findings are summarized as follows. First, the average length of the 300,971 trade spells is 3.269 years. Remarkably, 80.68 % of these spells have a length that does not exceed 3 years, whereas only 3.98 % persist beyond 18 years in length. Second, the hazard rate of global energy imports reaches 0.573 in the initial year, but it typically decreases as the import duration increases. Compared with other countries, Japan has superior resilience in terms of energy imports, whereas the United States has inferior resilience in this regard. With respect to product categories, global petroleum imports display greater resilience than coal and gas imports do. Third, elevated geopolitical risks in exporting countries significantly increase the hazard rate of global energy imports. Geopolitical risks intensify the hazard rate of global petroleum imports more than that of coal and gas imports. Furthermore, for OECD exporting countries, the enhancing impact of geopolitical risks on the hazard rate of trade disruptions is attenuated. Finally, drawing upon the primary conclusions, policy implications are suggested to increase import resilience and safeguard international energy security.
论文题目:全球能源进口的生存与地缘政治风险的影响
基于1995年至2022年的协调系统6位数代码数据,本研究采用生存分析来评估全球能源进口的生存能力,这是弹性的特征。其次,定量考察了出口国地缘政治风险对进口生存的影响。主要研究结果总结如下。首先,300,971个交易法术的平均长度为3.269年。值得注意的是,这些法术中有80.68%的长度不超过3年,而只有3.98%的长度超过18年。第二,全球能源进口的危险率在第一年达到0.573,但随着进口持续时间的增加,危险率一般会降低。与其他国家相比,日本在能源进口方面具有优越的弹性,而美国在这方面具有较差的弹性。就产品类别而言,全球石油进口比煤炭和天然气进口表现出更大的弹性。第三,出口国地缘政治风险的上升显著提高了全球能源进口的危险率。地缘政治风险加剧了全球石油进口的危险率,而不是煤炭和天然气进口。此外,对于经合组织出口国而言,地缘政治风险对贸易中断危险率的增强影响减弱。最后,根据上述结论,提出了提高进口弹性和维护国际能源安全的政策建议。
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来源期刊
Energy Economics
Energy Economics ECONOMICS-
CiteScore
18.60
自引率
12.50%
发文量
524
期刊介绍: Energy Economics is a field journal that focuses on energy economics and energy finance. It covers various themes including the exploitation, conversion, and use of energy, markets for energy commodities and derivatives, regulation and taxation, forecasting, environment and climate, international trade, development, and monetary policy. The journal welcomes contributions that utilize diverse methods such as experiments, surveys, econometrics, decomposition, simulation models, equilibrium models, optimization models, and analytical models. It publishes a combination of papers employing different methods to explore a wide range of topics. The journal's replication policy encourages the submission of replication studies, wherein researchers reproduce and extend the key results of original studies while explaining any differences. Energy Economics is indexed and abstracted in several databases including Environmental Abstracts, Fuel and Energy Abstracts, Social Sciences Citation Index, GEOBASE, Social & Behavioral Sciences, Journal of Economic Literature, INSPEC, and more.
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