What does export diversification do for energy demand? Evidence from the Global North
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Tarih
2022
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
SPRINGER HEIDELBERG
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
This paper contributes to the trade-energy literature by examining the effect of export product diversification on the energy demand of 30 countries located in the Global North over the period 1980-2014. A nonparametric time-varying coefficient panel data model with fixed effects is employed for its ability to produce robust outcomes in the presence of parameter instabilities, nonstationarity, regime shifts, and time variations. As a second step, the paper also utilizes the nonparametric fixed effects extension of Driscoll and Kraay, which is robust to spatial/cross-sectional dependence, as well as to autocorrelation and heteroscedasticity. The results indicate that export diversification lowers overall energy demand in the Global North, and the size of the impact has been on a gradual increase over the years. The paper concludes that if a conscious effort is made to ensure that product diversification is towards energy-efficient goods, export product diversification can serve as a useful strategy for managing energy consumption and mitigating its negative environmental effects.
Açıklama
Anahtar Kelimeler
Global North, Export product diversifcation, Nonparametric panel data, Time-varying parameter model
Kaynak
ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH
WoS Q Değeri
Q1
Scopus Q Değeri
N/A
