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Uncovering the spillover effects between the new energy industry and eleven economic sectors in China: Evidence based on stock data

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  • Gao, Anna
  • Sun, Mei
  • Wen, Weixin

Abstract

Clarifying the relationship between new energy and economic growth is an essential prerequisite for achieving the goal of carbon peaking and carbon neutrality. This paper utilizes a combination of nonlinear analysis methods, including transfer entropy, Bai–Perron (BP) structure point breakpoint detection, and complex network theory, to examine the coupling relationship between China's new energy and economy across different stages and sectors. An analysis of the network's topological properties shows that a complex coupling driving relationship exists between the new energy industry and the other 11 economic sectors. In particular, the agricultural sector exerts a significant driving force on the new energy industry, with the most extended duration of influence. Besides, the IT and construction industries also play a driving role in the new energy industry, and the latter's impact is earlier than that of the IT industry. The empirical results can guide the government and makers to formulate long-term sustainable action plans for different economic sectors.

Suggested Citation

  • Gao, Anna & Sun, Mei & Wen, Weixin, 2024. "Uncovering the spillover effects between the new energy industry and eleven economic sectors in China: Evidence based on stock data," Energy, Elsevier, vol. 301(C).
    • Handle: RePEc:eee:energy:v:301:y:2024:i:c:s0360544224014440
    DOI: 10.1016/j.energy.2024.131671
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