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    Economic Growth with Coal, Oil and Renewable Energy Consumption in China: Prospects for Fuel Substitution

    212612_212612.pdf (958.2Kb)
    Access Status
    Open access
    Authors
    Bloch, Harry
    Rafiq, S.
    Salim, Ruhul
    Date
    2015
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Bloch, H. and Rafiq, S. and Salim, R. 2015. Economic Growth with Coal, Oil and Renewable Energy Consumption in China: Prospects for Fuel Substitution. Economic Modelling. 44: pp. 104-115.
    Source Title
    Economic Modelling
    DOI
    10.1016/j.econmod.2014.09.017
    ISSN
    0264-9993
    School
    School of Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/31279
    Collection
    • Curtin Research Publications
    Abstract

    We examine the relationship between Chinese aggregate production and consumption of three main energy commodities: coal, oil and renewable energy. Both autoregressive distributed lag (ARDL) and vector error correction modeling (VECM) show that Chinese growth is led by all three energy sources. Economic growth also causes coal, oil and renewables consumption, but with negative own-price effects for coal and oil and a strong possibility of fuel substitution through positive cross-price effects. The results further show coal consumption causing pollution, while renewable energy consumption reduces emissions. No significant causation on emissions is found for oil. Hence, making coal both absolutely and relatively expensive compared to oil and renewable energy encourages shifting from coal to oil and renewable energy, thereby improving economic and environmental sustainability.

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