Energy Prices, Growth,and the Channels in Between: Theory and Evidence

Arbeitspapier

The paper first develops a theoretical model with different sectors, each providing a channel for an impact of energy prices on growth. In the short run, growth is hampered by increasing energy prices. In the long run, however, capital accumulation may be crowded out by energy use. This happens in the sectors with poor substitution possibilities between primary inputs where growth increases with rising energy prices. In the empirical part, estimations using di¤erent channels and energy sources with five-year average panel data for a sample of 44 developed countries in the period 1975-1999 are presented. It is shown that, for a large variety of constellations, rising energy prices are not a threat to economic development, they can even be positive for growth.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Economics Working Paper Series ; No. 06/47

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Energy and the Macroeconomy ; Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth ; One, Two, and Multisector Growth Models ; Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
• Thema: Energy Prices and Growth ; Endogenous Capital Accumulation ; Structural Change ; Panel Data ; Energiepreis ; Strompreis ; Wirtschaftswachstum ; Investition ; Strukturwandel ; Schätzung

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Bretschger, Lucas
• Ereignis: Veröffentlichung
• (wer): ETH Zurich, CER-ETH - Center of Economic Research
• (wo): Zurich
• (wann): 2007

Weitere Informationen

• Handle: http://hdl.handle.net/10419/171491
• Letzte Aktualisierung: 20.09.2024, 08:22 MESZ