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Trends and Characterization of Primary Energy Sources by Energy and Food Prices

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  • Christian Barika Igbeghe

    (Institute of Applied Economics, Faculty of Economics and Business, University of Debrecen, H-4032 Debrecen, Hungary)

  • Tamás Mizik

    (Department of Agricultural Economics, Corvinus University of Budapest, H-1093 Budapest, Hungary)

  • Zoltán Gabnai

    (Institute of Applied Economics, Faculty of Economics and Business, University of Debrecen, H-4032 Debrecen, Hungary
    ELKH-DE High-Tech Technologies for Sustainable Management Research Group, University of Debrecen, Boszormenyi Street 138, H-4032 Debrecen, Hungary)

  • Attila Bai

    (Institute of Applied Economics, Faculty of Economics and Business, University of Debrecen, H-4032 Debrecen, Hungary
    ELKH-DE High-Tech Technologies for Sustainable Management Research Group, University of Debrecen, Boszormenyi Street 138, H-4032 Debrecen, Hungary)

Abstract

This study introduces the most important energy trends and global food systems, as well as the relationship between the human development index (HDI) and energy supply and the relationship between energy prices and food prices. Based on seven important indicators as variables in 18 relevant countries worldwide, before and after the pandemic, with the help of cluster analysis and comparative analysis, five different primary energy clusters were created and analyzed. Our results prove the high volatility of the composition of these clusters within a short period. Another important finding is that renewable energy sources (RES) are probably not viable options for the largest (developed and developing) countries in the short term. The human development index and food production per capita are the lowest in the renewable energy cluster and the highest in countries dominated by nuclear energy and oil with typically the highest GDP, since they are able to finance the price hike in both food and energy markets. Generally, it can be stated that although there is a relationship between the measured indicators, it is not constant in all cases. Our results and methodology may be a good basis for further research to examine the relationship between the most important relevant indicators in different countries, as well as the effect of a global crisis on strengthening food and energy security.

Suggested Citation

  • Christian Barika Igbeghe & Tamás Mizik & Zoltán Gabnai & Attila Bai, 2023. "Trends and Characterization of Primary Energy Sources by Energy and Food Prices," Energies, MDPI, vol. 16(7), pages 1-18, March.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:7:p:3066-:d:1109219
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    References listed on IDEAS

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