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Economic growth with coal, oil and renewable energy consumption in China: prospects for fuel substitution

Bloch,H, Rafiq,S and Salim,R 2015, Economic growth with coal, oil and renewable energy consumption in China: prospects for fuel substitution, Economic modelling, vol. 44, pp. 104-115, doi: 10.1016/j.econmod.2014.09.017.

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Title Economic growth with coal, oil and renewable energy consumption in China: prospects for fuel substitution
Author(s) Bloch,H
Rafiq,SORCID iD for Rafiq,S orcid.org/0000-0002-2109-7441
Salim,R
Journal name Economic modelling
Volume number 44
Start page 104
End page 115
Publisher Elsevier BV
Place of publication Amsterdam, The Netherlands
Publication date 2015-01-01
ISSN 0264-9993
1873-6122
Keyword(s) ARDL
China
Environmental sustainability
Error correction model
Fuel substitution
Pollution
Summary We examine the relationship between Chinese aggregate production and consumption of three main energy commodities: coal, oil and renewable energy. Both autoregressive distributed lag (ARDL) and vector error correction modeling (VECM) show that Chinese growth is led by all three energy sources. Economic growth also causes coal, oil and renewables consumption, but with negative own-price effects for coal and oil and a strong possibility of fuel substitution through positive cross-price effects. The results further show coal consumption causing pollution, while renewable energy consumption reduces emissions. No significant causation on emissions is found for oil. Hence, making coal both absolutely and relatively expensive compared to oil and renewable energy encourages shifting from coal to oil and renewable energy, thereby improving economic and environmental sustainability.
Language eng
DOI 10.1016/j.econmod.2014.09.017
Field of Research 140205 Environment and Resource Economics
Socio Economic Objective 910103 Economic Growth
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2015, Elsevier BV
Persistent URL http://hdl.handle.net/10536/DRO/DU:30069006

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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