Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/287024 
Year of Publication: 
2021
Citation: 
[Journal:] Annals of Operations Research [ISSN:] 1572-9338 [Volume:] 313 [Issue:] 1 [Publisher:] Springer US [Place:] New York, NY [Year:] 2021 [Pages:] 461-494
Publisher: 
Springer US, New York, NY
Abstract: 
Using province-level data for South Korea, we analyze the dynamic relationship between economic growth and several energy parameters. Specifically, we decompose the growth effect into scale, composition, and technique effects, and control for regional spillovers through the use of a dynamic GMM estimator for spatial panel data models. The analyzed period, ranging from 2000 to 2017, allows us to look for changes in the regional growth effects following the implementation of the National Strategy for Green Growth in 2009. Our estimates show that the scale and composition effect tended to increase both per capita final energy use and energy intensity, outweighing reductions through the technique effect. In contrast, when considering renewable energy production, the scale and technique effect increased and the composition effect decreased the corresponding figures. Thereby, the technique effect was the main driver of increases in renewable energy production. Despite the larger, yet comparatively small share of renewables in Korea's energy mix, no considerable change of the growth effects can be observed since 2009. Therefore, to reduce the risks for the economy and achieve the political objectives of the green growth strategy throughout the whole country and in a timely manner, a stronger commitment seems to be required.
Subjects: 
Economic growth
Energy consumption
Renewable energy
Spatial econometrics
Republic of Korea
JEL: 
C21
O44
Q41
Q42
Q56
R11
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.