The impacts of non-fossil energy, economic growth, energy consumption, and oil price on carbon intensity: Evidence from a panel quantile regression analysis of EU 28
The impacts of non-fossil energy, economic growth, energy consumption, and oil price on carbon intensity: Evidence from a panel quantile regression analysis of EU 28
This study investigates some determinants of carbon intensity in 28 countries in the European Union (EU), including non-fossil energy, economic growth, energy consumption, and oil price. A panel quantile regression method, which considers both individual heterogeneity and distributional heterogeneity, is applied in this paper. The empirical results imply that the influences of these determinants on carbon intensity are heterogeneous and asymmetric across different quantiles. Specifically, non-fossil energy can significantly decrease carbon intensity, but shows a U-shaped relationship. Economic growth has a negative impact on carbon intensity, especially for medium-emission and high-emission countries. The effects of heating degree days on carbon intensity are positive, although the coefficients are not significant at low quantiles, they become significant from medium quantiles. Besides, we find an inverse U-shaped relationship between crude oil price and carbon intensity. Finally, several relevant policy recommendations are proposed based on the empirical results.
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Cheng, Cheng
cc96d80a-3209-420a-a182-58fbfabf8cfd
Ren, Xiaohang
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Wang, Zhen
af8604e4-250c-4c42-93bf-37d791470816
Shi, Yukun
0d34b0c0-a807-41ad-8060-3595fd5e0783
6 November 2018
Cheng, Cheng
cc96d80a-3209-420a-a182-58fbfabf8cfd
Ren, Xiaohang
970abdf4-ff20-4244-9952-f9ee910736ee
Wang, Zhen
af8604e4-250c-4c42-93bf-37d791470816
Shi, Yukun
0d34b0c0-a807-41ad-8060-3595fd5e0783
Cheng, Cheng, Ren, Xiaohang, Wang, Zhen and Shi, Yukun
(2018)
The impacts of non-fossil energy, economic growth, energy consumption, and oil price on carbon intensity: Evidence from a panel quantile regression analysis of EU 28.
Sustainability, 10 (11), , [4067].
(doi:10.3390/su10114067).
Abstract
This study investigates some determinants of carbon intensity in 28 countries in the European Union (EU), including non-fossil energy, economic growth, energy consumption, and oil price. A panel quantile regression method, which considers both individual heterogeneity and distributional heterogeneity, is applied in this paper. The empirical results imply that the influences of these determinants on carbon intensity are heterogeneous and asymmetric across different quantiles. Specifically, non-fossil energy can significantly decrease carbon intensity, but shows a U-shaped relationship. Economic growth has a negative impact on carbon intensity, especially for medium-emission and high-emission countries. The effects of heating degree days on carbon intensity are positive, although the coefficients are not significant at low quantiles, they become significant from medium quantiles. Besides, we find an inverse U-shaped relationship between crude oil price and carbon intensity. Finally, several relevant policy recommendations are proposed based on the empirical results.
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Accepted/In Press date: 2 November 2018
e-pub ahead of print date: 6 November 2018
Published date: 6 November 2018
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Local EPrints ID: 426033
URI: http://eprints.soton.ac.uk/id/eprint/426033
ISSN: 2071-1050
PURE UUID: b74e296f-a2b0-43a0-a708-0b2687cd3fca
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Date deposited: 09 Nov 2018 17:30
Last modified: 15 Mar 2024 22:34
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Author:
Cheng Cheng
Author:
Xiaohang Ren
Author:
Zhen Wang
Author:
Yukun Shi
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