The type of power capacity matters for economic development – Evidence from a global panel

IF 2.6 3区经济学 Q1 ECONOMICS

Resource and Energy Economics Pub Date : 2022-08-01 DOI:10.1016/j.reseneeco.2022.101313

Lorenzo Montrone , Jan Christoph Steckel , Matthias Kalkuhl

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引用次数: 1

Abstract

We examine the relationship between different types of power investments and regional economic dynamics. We construct a novel panel dataset combining data on regional GDP and power capacity additions for different technologies between 1960 and 2015, which covers 65% of the global power capacity that has been installed in this period. We use an event study design to identify the effect of power capacity addition on GDP per capita, exploiting the fact that the exact amount of power capacity coming online each year is determined by random construction delays. We find evidence that GDP per capita increases by 0.2% in the 6 years around the coming online of 100 MW coal-fired power capacity. We find similar effects for hydropower capacity, but not for any other type of power capacity. The positive effects are regionally bounded and stronger for projects on new sites (green-field). The magnitude of this effect might not be comparable to the total external costs of building new coal-fired power capacity, yet our results help to explain why policymakers favor coal investments for spurring regional growth.

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电力容量的类型对经济发展至关重要——来自一个全球小组的证据

我们研究了不同类型的电力投资与区域经济动态之间的关系。我们构建了一个新的面板数据集，结合了1960年至2015年间不同技术的地区GDP和电力容量增加的数据，涵盖了这一时期已安装的全球电力容量的65%。我们使用事件研究设计来确定电力容量增加对人均GDP的影响，利用每年新增电力容量的确切数量是由随机建设延迟决定的这一事实。我们发现有证据表明，在100兆瓦燃煤发电能力即将上线的6年内，人均GDP将增长0.2%。我们发现水电容量也有类似的影响，但其他类型的电力容量没有。积极的影响是有区域界限的，对于新场地(绿地)的项目更强。这种影响的程度可能无法与建设新的燃煤发电能力的总外部成本相比，但我们的研究结果有助于解释为什么政策制定者倾向于通过煤炭投资来刺激地区增长。

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来源期刊

Resource and Energy Economics Multiple-

CiteScore

5.40

自引率

0.00%

发文量

期刊介绍： Resource and Energy Economics provides a forum for high level economic analysis of utilization and development of the earth natural resources. The subject matter encompasses questions of optimal production and consumption affecting energy, minerals, land, air and water, and includes analysis of firm and industry behavior, environmental issues and public policies. Implications for both developed and developing countries are of concern. The journal publishes high quality papers for an international audience. Innovative energy, resource and environmental analyses, including theoretical models and empirical studies are appropriate for publication in Resource and Energy Economics.