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The effect of economic complexity and energy security on measures of energy efficiency: Evidence from panel quantile analysis

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  • Payne, James E.
  • Truong, Huong Hoang Diep
  • Chu, Lan Khanh
  • Doğan, Buhari
  • Ghosh, Sudeshna

Abstract

This study explores the effects of economic complexity and energy security risk on measures of energy efficiency, namely energy intensity and carbon intensity, for a panel of the 25 top energy use countries. The empirical results from quantile regression analysis for the full panel of countries shows that an increase in economic complexity raises energy efficiency through lower energy intensity and carbon intensity. An increase in energy security risk raises energy intensity with the impact on carbon intensity varying across quantiles. Disaggregating the results between high-income and middle-income countries reveals there are clear differences in the impact of economic complexity and energy security risk on both energy intensity and carbon intensity. Finally, policy discussion and recommendations are provided in the context of the United Nations sustainable development goals.

Suggested Citation

  • Payne, James E. & Truong, Huong Hoang Diep & Chu, Lan Khanh & Doğan, Buhari & Ghosh, Sudeshna, 2023. "The effect of economic complexity and energy security on measures of energy efficiency: Evidence from panel quantile analysis," Energy Policy, Elsevier, vol. 177(C).
    • Handle: RePEc:eee:enepol:v:177:y:2023:i:c:s0301421523001325
    DOI: 10.1016/j.enpol.2023.113547
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    More about this item

    Keywords

    Energy intensity; Economic complexity; Energy security risk; High-income countries; Middle-income countries; Sustainable development goals;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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