Estimates of inter-fuel substitution possibilities in Chinese chemical industry

“…It can be proved that the larger ridge constant is the larger is the bias of β k ð Þ, but the smaller the variance (Judge et al, 1985). To select the optimal k, we adopt ridge trace plot which is the most popular diagnostic tool and widely used in empirical studies (e.g., Lin and Wesseh, 2013;Smyth et al, 2011). The ridge trace plot for our data is presented in Fig.…”

Section: Resultsmentioning

confidence: 99%

Measuring energy rebound effect in the Chinese economy: An economic accounting approach

Lin

2015

Energy Economics

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“…(1996); Urga and Walters (2003); Smyth et al . (2011, 2012); Lin and Wesseh (2013); Wesseh et al . (2013); Xie et al .…”

Section: Literature Reviewmentioning

confidence: 99%

Transition to renewable energy technologies and future prospects for oil‐exporting countries

Khan

Shaheen

2020

OPEC Energy Review

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In the context of recent energy transition from hydrocarbon molecules to electrons, this research aims to examine the degree of substitution between renewable energy sources and fossil fuels through a dynamic framework of time‐varying parameters under state‐space model. For this purpose, this research selects four major oil‐importing countries and employs annual time series data for crude oil imports, gross domestic product, crude oil price, renewable energy consumption, population growth, real effective exchange rate and industrial production index for each country in the sample while covering the period 1991–2018. The estimates reveal positive and significant income, population and industrial production index elasticities for most of the countries in the sample. In addition, this research finds negative and statistically significant elasticity between renewable energy consumption and demand for imported crude oil for India, China and Japan, although magnitude is very small. However, there is insignificant and little substitution for US data. This research is unique as to our knowledge there is no such study available before and it provides insights for policymakers in oil‐exporting countries to develop sustainable long‐term diversification strategies to reduce reliance on oil revenues.

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Estimates of inter-fuel substitution possibilities in Chinese chemical industry

Cited by 86 publications

References 31 publications

Estimation of inter-fuel substitution possibilities in China's transport industry using ridge regression

Estimation of inter-fuel substitution possibilities in China's transport industry using ridge regression

Measuring energy rebound effect in the Chinese economy: An economic accounting approach

Transition to renewable energy technologies and future prospects for oil‐exporting countries

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