Energy Economics最新文献

Corrigendum to “Green energy policies and energy poverty in Europe: Assessing low carbon dependency and energy productivity” [Energy Economics Volume 136, August 2024, 107677]

IF 13.6 2区经济学

Energy Economics Pub Date : 2025-03-07 DOI: 10.1016/j.eneco.2025.108356

Gonzalo H. Soto , Xavier Martinez-Cobas

引用次数: 0

Corrigendum to “Asymmetric volatility Spillover effects between Crude Oil and other financial markets” [Energy Economics Volume 130, February 2024, 107305]

IF 13.6 2区经济学

Energy Economics Pub Date : 2025-03-04 DOI: 10.1016/j.eneco.2025.108354

Bo Guan, Khelifa Mazouz, Yongdeng Xu

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Environmental policy and distance to firms: An analysis of publicly listed firms in China

IF 13.6 2区经济学

Energy Economics Pub Date : 2025-03-04 DOI: 10.1016/j.eneco.2025.108330

Kingsley Dogah , Shang Jiang , Casto Martín Montero Kuscevic , King Yoong Lim

{"title":"Environmental policy and distance to firms: An analysis of publicly listed firms in China","authors":"Kingsley Dogah , Shang Jiang , Casto Martín Montero Kuscevic , King Yoong Lim","doi":"10.1016/j.eneco.2025.108330","DOIUrl":"10.1016/j.eneco.2025.108330","url":null,"abstract":"<div><div>Focusing on the seven regions with pilot emission trading scheme (ETS) in China, we develop a novel theory explaining firms’ environmental investment (EI) decision, which is endogenous to the spatial effects associated with waste-recycling facility (WRF) proximity and ETS induced peer-to-peer learning. A novel feature is that, due to the use of resource inputs, firms incur both recyclable and carbon-intensive waste disposal costs. This leads to two empirically testable propositions and a conjecture, which we evaluate based on cross-sectional analyses of 1717 public listed firms in China during the 2015–20 periods. We find WRF proximity to correlate positively with observed EI take-up, and this is subsequently associated with higher labor productivity. However, ETS-infused peer learning effect has the opposite effect in that proximity to an investing neighbor results seems to be associated with freeriding, especially when the difference in internal margins between firms is accounted for. While there are overall positive spatial spillover effects, this results in policy rivalry (between the two policies), where the freeriding effect not only results in a lack of ETS policy effect onto labor productivity of even the 219 EI firms, but also mitigates the positive WRF proximity effect.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108330"},"PeriodicalIF":13.6,"publicationDate":"2025-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143563564","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The digital revolution and energy efficiency – A roadmap for transforming the energy supply chain through green policy planning

IF 13.6 2区经济学

Energy Economics Pub Date : 2025-03-01 DOI: 10.1016/j.eneco.2025.108345

Wei Wei, Hu Zhang

{"title":"The digital revolution and energy efficiency – A roadmap for transforming the energy supply chain through green policy planning","authors":"Wei Wei, Hu Zhang","doi":"10.1016/j.eneco.2025.108345","DOIUrl":"10.1016/j.eneco.2025.108345","url":null,"abstract":"<div><div>Transitioning to renewable energy sources and green technologies is crucial for achieving global climate goals and sustainable development. Using policy developments, investments, and technological advancements from 1999 to 2021, this study develops a roadmap for transforming the energy supply chain through adopting green technologies in selected International Energy Agency (IEA) countries. The findings suggest that there has been a significant shift towards green technologies in the energy supply chain of the IEA countries. The adoption of renewable energy sources, such as solar and wind power, has increased exponentially during this period. Additionally, there has been a growth in energy storage technologies, enabling the integration of intermittent renewable energy sources into the power grid. Moreover, the findings highlight the importance of policy interventions to facilitate this transition. The introduction of favorable regulatory frameworks, subsidies, and incentives has encouraged investment in green technologies and promoted their deployment. Establishing renewable energy targets and carbon pricing mechanisms has also played a significant role in adopting cleaner energy sources. The implications of the study for IEA member countries are profound. The findings underscore the need for member countries to continuously update their energy policies to align with the evolving energy landscape. This includes promoting the integration of renewable energy sources into the energy mix, investing in research and development of emerging technologies, and coordinating efforts at a regional or international level.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108345"},"PeriodicalIF":13.6,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143550524","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Retraction notice to “Exploring the dynamic connectedness among energy transition and its drivers: Understanding the moderating role of global geopolitical risk” [Energy Economics Volume 119, March 2023, 106570]

IF 13.6 2区经济学

Energy Economics Pub Date : 2025-03-01 DOI: 10.1016/j.eneco.2025.108287

Muhammad Zubair Chishti , Avik Sinha , Umer Zaman , Umer Shahzad

引用次数: 0

How does service trade openness promote the green transformation of manufacturing firms? Evidence from China

IF 13.6 2区经济学

Energy Economics Pub Date : 2025-02-28 DOI: 10.1016/j.eneco.2025.108347

Zhongqiao Shu , Shuijun Peng , Xin Huang

{"title":"How does service trade openness promote the green transformation of manufacturing firms? Evidence from China","authors":"Zhongqiao Shu , Shuijun Peng , Xin Huang","doi":"10.1016/j.eneco.2025.108347","DOIUrl":"10.1016/j.eneco.2025.108347","url":null,"abstract":"<div><div>Service intermediate inputs are generally more environmentally friendly and knowledge-intensive compared with goods. As China has continued to promote high-quality development and expand high-standard opening up, this paper aims to investigate how service trade openness of China provides a green upgrading path for manufacturing firms. We first construct a micro theoretical model and deduce three influence channels through which service trade openness can reduce pollution intensity of manufacturing firms: technological progress, cost reduction and efficiency improvement of resource allocation. Then, we estimate the trade costs in service sectors based on the service trade data in OECD database and the structural gravity model, and empirically verify the emission reduction effect of service trade openness with our estimation and China's firm-level data from 1999 to 2007. The results show that service trade openness can effectively reduce the pollution emission intensity of Chinese manufacturing firms through these three channels. And it is noteworthy that the technological progress is mainly due to the improvement of innovation quality, rather than the innovation quantity. In addition, this paper also finds that: (1) Emission reduction effect brought by trade openness in producer services is more significant, while trade openness in non-producer services actually increases firms' pollution intensity due to the crowding-out effect; (2) Emission reduction effect of service trade openness on non-SOEs and non-exporting firms are more manifest. This paper provides feasible paths for China and other developing economies to the achievement of green transformation.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108347"},"PeriodicalIF":13.6,"publicationDate":"2025-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143550525","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The hidden costs of tariff misclassification: Structural winners and losers

IF 13.6 2区经济学

Energy Economics Pub Date : 2025-02-28 DOI: 10.1016/j.eneco.2025.108322

Hector Sandoval ⓡ , Pedro Hancevic ⓡ , Hernán Bejarano ⓡ

{"title":"The hidden costs of tariff misclassification: Structural winners and losers","authors":"Hector Sandoval ⓡ , Pedro Hancevic ⓡ , Hernán Bejarano ⓡ","doi":"10.1016/j.eneco.2025.108322","DOIUrl":"10.1016/j.eneco.2025.108322","url":null,"abstract":"<div><div>We propose an empirical model to evaluate firms’ choices in electric tariff contracting. By combining novel data from the Non-residential Electricity Consumption Survey with utility billing data from the state-owned national utility provider, we analyze two pathological situations revealed by the electric bills of commercial and service SMEs in Aguascalientes, Mexico. First, despite being banned, many firms pay the residential tariff. Among these firms, some pay the regular subsidized rate, while others pay the high-demand rate, which is higher than the corresponding business rate. Additionally, for another group of companies, there are two competing business tariffs, many of which are misclassified and thus must be re-categorized to afford less expensive electric bills. A rich set of explanatory variables is used to quantify the two biases, explain the wrong decisions, estimate hidden costs and subsidies at the national level, and provide valuable policy implications.</div><div>Electricity pricing and tariff classifications significantly impact the operational costs and competitiveness of firms. Inaccurate tariff assignments can result in hidden costs and ineffective subsidies, affecting both companies and national energy budgets. This study is valuable as it empirically examines these issues within the Mexican context, uncovering biases and inefficiencies in tariff contracting that may hold broader implications for energy policy and pricing efficiency worldwide.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108322"},"PeriodicalIF":13.6,"publicationDate":"2025-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143550527","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

From forecasting to trading: A multimodal-data-driven approach to reversing carbon market losses

IF 13.6 2区经济学

Energy Economics Pub Date : 2025-02-27 DOI: 10.1016/j.eneco.2025.108350

Shuihan Liu , Mingchen Li , Kun Yang , Yunjie Wei , Shouyang Wang

{"title":"From forecasting to trading: A multimodal-data-driven approach to reversing carbon market losses","authors":"Shuihan Liu , Mingchen Li , Kun Yang , Yunjie Wei , Shouyang Wang","doi":"10.1016/j.eneco.2025.108350","DOIUrl":"10.1016/j.eneco.2025.108350","url":null,"abstract":"<div><div>The carbon market is characterized by inherent nonlinearity and high volatility, significantly influenced by several market and factor exposures. These include the energy market, financial market, foreign exchange market, international carbon markets, environmental factors, public attention, and market sentiment. Given the multifaceted determinants of carbon prices, this study has bridged a gap in the existing research by transitioning from traditional historical-data-driven methods to an innovative multimodal-data-driven framework integrating both structured and unstructured data. Combining decomposition techniques with feature filtering, we analyze the dynamic relationships between multiple variables and different frequency components of carbon prices, particularly within the relatively young and understudied Chinese carbon market. Furthermore, we calculate entropy values to distinguish between high-complexity and low-complexity sub-sequences and implement an adaptive forecasting process fusing conventional statistical approaches with prevalent deep learning methods, improving interpretability and forecasting accuracy. The proposed method has a prediction RMSE of only 0.3471 in the carbon market of Hubei, China, and a prediction MAPE of 0.9491 in the newly established national unified carbon market. Building upon the forecasting results, this paper makes a further extension by proposing an interval-constrained trading strategy that encapsulates the predictive uncertainties, providing an effective risk management tool in the volatile carbon market. Enterprises can improve their cumulative return rate by 2 % to 14 % through the improvement of our trading strategies, and the maximum drawdown can be reduced by about 2 %. Notably, our strategy's potential for reversing losses to gains, could offer actionable insights for enterprises' decision-making processes.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108350"},"PeriodicalIF":13.6,"publicationDate":"2025-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143550538","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Embracing uncertain times: An energy security perspective

IF 13.6 2区经济学

Energy Economics Pub Date : 2025-02-27 DOI: 10.1016/j.eneco.2025.108334

Lei Fang , Chin-Hsien Yu , Xinghao Li , Jyun-You Chiang

引用次数: 0

How environmental regulation policies affect corporate ESG ratings: Latecomer advantage in China's digital economy

IF 13.6 2区经济学

Energy Economics Pub Date : 2025-02-27 DOI: 10.1016/j.eneco.2025.108336

Yinghao Song , Zhaian Bian , Wei Tu , Juan He

{"title":"How environmental regulation policies affect corporate ESG ratings: Latecomer advantage in China's digital economy","authors":"Yinghao Song , Zhaian Bian , Wei Tu , Juan He","doi":"10.1016/j.eneco.2025.108336","DOIUrl":"10.1016/j.eneco.2025.108336","url":null,"abstract":"<div><div>Corporate Environmental, Social, and Governance (ESG) factors are crucial for businesses to achieve long-term sustainable development, enhance competitiveness, and reduce risks. They play a significant role in meeting stakeholder expectations, enhancing brand reputation, attracting investment and talent, driving innovation and value creation, and fulfilling social and environmental responsibilities. Using panel data from Chinese listed companies between 2009 and 2021, this study utilizes the new environmental air quality standards (NEAQS) policy as a quasi-natural experiment to examine the impact of environmental regulatory policy on corporate ESG ratings in the context of the digital economy. This study finds that environmental regulation policies enhance corporate ESG ratings, with a latecomer advantage in the digital economy. Mechanism analysis indicates that promoting digital transformation, fostering green innovation, and increasing environmental costs are important mechanisms through which the NEAQS policy enhances corporate ESG ratings. Heterogeneity analysis shows that, in the context of digital economic development, companies with lower levels of digital transformation, asset intensity, and financing constraints have a latecomer advantage and can elevate corporate ESG ratings more effectively through digital transformation under environmental regulatory policies. This study provides new empirical evidence on the relationship between environmental regulatory policies and corporate ESG ratings and offers policy support for other countries seeking to enhance corporate social responsibility through environmental regulatory policies in the digital economy.</div></div>","PeriodicalId":11665,"journal":{"name":"Energy Economics","volume":"144 ","pages":"Article 108336"},"PeriodicalIF":13.6,"publicationDate":"2025-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143550536","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0