co2 emissions energy consumption and economic growth in china a panel data analysis this paper examines the causal relationships between carbon dioxide emissions energy consumption and real economic output using panel cointegration and panel vector error correction modeling techniques based on the panel data for 28 provinces in china over the period 1995 2007 our empirical results show that co2 emissions energy consumption and economic growth have appeared to be cointegrated moreover there exists bidirectional causality between co2 emissions and energy consumption and also between energy consumption and economic growth it has also been found that energy consumption and economic growth are the long run causes for co2 emissions and co2 emissions and economic growth are the long run causes for energy consumption the results indicate that china s co2 emissions will not decrease in a long period of time and reducing co2 emissions may handicap china s economic growth to some degree some policy implications of the empirical results have finally been proposed

the balassa samuelson effect in romania the role of regulated prices abstract due to the balassa samuelson effect the candidate countries to the european monetary union face a possible conflict between the effects of tradable productivity increase on inflation and on the appreciation of the real exchange rate on one hand and the maastricht criteria regarding inflation and exchange rate stability on the other hand a restrictive monetary policy could succeed in reaching inflation criteria but only with the cost of slowing down real convergence this paper deals with the balassa samuelson effect in romania the main conclusion of the paper is that in the period 1998 2006 the average annual rate of inflation generated by the balassa samuelson effect in romania was on average 0 6 in the case of the classical model due to the existence of government regulated prices mostly non tradable goods accounting for as much as 21 of the cpi basket in romania the price of non tradables has increased by less than in the case those prices were market prices if we include these regulated prices in non tradable which is named by us extended model the impact of balassa samuelson on inflation could have been on average 2 46 therefore the balassa samuelson effect is expected to result into higher inflation with future price liberalization for non tradables

the energy and co2 emissions impact of renewable energy development in china the authors are grateful for the support provided by the national key technology r d program from ministry of science and technology of grant no 2012bac20b07 we acknowledge the support of the national key technology r d program and the institute for energy environment and economy at tsinghua university which is supporting tianyu qi s doctoral research as a visiting scholar at the massachusetts institute of technology we acknowledge the support of eni icf and shell initial founding sponsors of the china energy and climate project this consortium of sponsors has provided support for researchers in the mit joint program to engage in a five year program of research focused on china none of the sponsoring organizations played a role in the study design collection analysis or interpretation of the data used for this study nor did they influence our decisions to submit the article for publication and all errors are our own

a chinese sky trust distributional impacts of carbon charges and revenue recycling in china abstract the introduction of carbon charges on the use of fossil fuels in china would have a progressive impact on income distribution this outcome which contrasts to the regressive distributional impact found in most studies of carbon charges in industrialized countries is driven primarily by differences between urban and rural expenditure patterns if carbon revenues were recycled on an equal per capita basis via a sky trust the progressive impact would be further enhanced low income mainly rural households would receive more in sky trust dividends than they pay in carbon charges and high income mainly urban households would pay more than they receive in dividends thus a chinese sky trust would contribute to both lower fossil fuel consumption and greater income equality

deliberating on renewable and sustainable energy policies in china abstract in order to realize the sustainable development of country and society many countries have established their renewable energy law and development strategy no matter developed countries or developing countries it is well known that china is the largest developing country in the world and the per capita gdp ranks more than 100 however the total gdp ranks the second due to the huge population amount and just behind usa certainly the total energy consumption amount is huge and the big energy demand has brought a serious of environmental problems such as acid rain water and soil pollution and resource exhaustion etc fortunately china central government has regarded the serious question to realize the sustainable development in future the renewable energy law has been established in 2005 firstly china s energy situation and existing environmental questions in past years is introduced in this paper secondly the distribution and the application practice of different renewable energy were introduced then china s renewable energy policy is detailed introduced in the following section the next section discusses the existing questions based on these discussions the development barriers and recommendations are introduced respectively

a strategic production costing model for electricity market price analysis production costing models pcms have been extensively used to analyze traditional power systems for decades these tools are based on the costs of production but in oligopolistic electricity markets market prices can not be explained attending just to marginal costs but instead bid prices have to be considered since market participants seize their dominant position in the market looking for higher profits thus the merit order composition criteria applied in traditional pcms has to be somehow reconsidered in order to be able to represent the agents strategic bidding the objective of the strategic production costing model spcm presented in this paper is to evolve the pcm approach to adapt it to the actual wholesale electricity markets without losing its typical advantages the generalization proposed allows to represent an oligopolistic hydrothermal electricity market and provides the system price duration curve as well as the income and expected costs of every generating agent compared with other oligopolistic models the main advantage of the spcm is its potential computational speed which makes it very suitable for risk analysis studies that require considering a large number of scenarios

stock interest rate risk and inflation shocks abstract in this paper we proceed to estimate a measure of the flow through capability of the firms listed on the spanish stock exchange the flow through capability is defined as the ability of firms to transmit inflation shocks to the prices of the products and services sold by the company according to a strand of the literature this flow through capability can to some extent explain the so called stock duration paradox which is the difference between the theoretical stock duration derived from the ddm model and its empirical estimates the line of reasoning suggests that if a company can pass on inflation shocks to the prices of its own outputs and then to profits and dividends nominal interest rate changes due to variations in the expected inflation will have a limited impact on stock prices so in this paper we first estimate the flow through capability for different industries and find great differences among them then we analyse the link between flow through capability and stock duration and find a significant negative relationship between them as claimed by part of the literature

to reduce energy consumption and to maintain rapid economic growth analysis of the condition in china based on expended ipat model abstract as one of the important driving forces of world economic development china s rapid economic growth has not only supplied the world with a large number of manufactured goods but also caused china s sustained and rapid increase in energy consumption because of the characteristics of china s economic development and overall low productivity derive from them in many years according to the ipat model and its expansion this article figures out china s indicators of economic growth and changes in energy consumption brought by technological progress since 1986 empirical results show that despite many years efforts china s high speed economic growth is still largely dependent on massive energy consumption how to maintain rapid economic growth while reducing energy consumption china has faced the very problem it needs to address

review on the costs and benefits of renewable energy power subsidy in china abstract nowadays renewable energy plays a vital role in the sustainable development of a society in china renewable energy power has developed rapidly since the implementation of renewable energy act through a series of specific incentive measures especially subsidy policies china s renewable energy power has made great achievements both in technology and application based on the state of the art of renewable energy power this paper comprehensively analyzed the costs and benefits of renewable energy power subsidy in china the analysis results show the cost of renewable energy power subsidy was 0 248 cny kwh between 2006 and april 2011 which was distributed among different renewable energy power types including wind power biomass power and solar pv power or categories including electricity price accessing grid projects and public independent renewable energy power system on the other hand the renewable energy power subsidy also brings benefits to different aspects of the society specifically the environmental benefit amounted to 17 88 billion cny and the benefits of guaranteeing energy security advancing technology innovation and promoting economic development were also noteworthy

china s ongoing energy efficiency drive origins progress and prospects abstract in 2004 china s government launched a vigorous programme to reverse the trend of rising national energy intensity and to reduce intensity by 20 over the period 2006 2010 the aim of this paper is to examine this programme in the context of nearly 30 years of measures to enhance energy efficiency in china and thus to evaluate the likelihood that today s policies will yield improvements over a longer period the country achieved a sustained decline of energy intensity in the period 1980 2001 but this trend was reversed in 2002 this reversal arose from a shift in the structure of the economy to more energy intensive industries and from a decline in the rate of technical innovation the measures taken since 2003 have been directed principally at energy intensive industries but have also addressed other sectors of the economy though the energy intensity target for the year 2010 may be achieved greater efforts will be needed to address a number of constraints which include the reluctance to use economic and financial instruments the dependency of energy policy on industrial and social policies the nature of political decision making and of public administration a shortage of skills and social attitudes to energy

the mechanism and policy on the electricity price of renewable energy in china abstract with the rapid development of the society energy demand is becoming more urgent so it is necessary to exploit the renewable energy because of the limited conventional energy this paper introduced the current development situation of the renewable energy analyzed the subsidy policy and discussed the problems of the electricity price mechanisms and policies in china finally we got the conclusion that government should formulate more policies to encourage private and foreign enterprises to invest renewable energy industries as well as to apply the cdm mechanism

barriers and opportunities of using the clean development mechanism to advance renewable energy development in china studying the barriers and opportunities of using clean development mechanism cdm to advance renewable energy deployment in china has a practical significance to achieve its ambitious renewable energy plan which affects the global efforts to curb carbon emission this paper analyses the role of cdm in promoting renewable energy development in china by reviewing the cdm activities especially renewable energy cdm activities in china there are three barriers to utilizing cdm for renewable energy deployment namely the dilemma of additionality lower proportional certified emission reduction credit revenues on the investment and the lack of incentive for technology transfer whereas the opportunities of using cdm in promoting renewable energy development include the international carbon market redirection to renewable energy chinese renewable energy boom driven by a series of effective energy policies and additional finance from cdm supporting chinese renewable energy development based on the study on the barriers and opportunities the article considers that cdm is an indispensable incentive and a viable choice to promote renewable energy deployment in china crown copyright c 2010 published by elsevier ltd all rights reserved

energy for sustainable development a case of developing countries abstract today there are 1 4 billion people around the world that lack access to electricity some 85 of them in rural areas without additional dedicated policies by 2030 the number of people drops but only to 1 2 billion some 15 of the world s population still lack access the majority of them living in sub saharan africa the number of people relying on the traditional use of biomass is projected to rise from 2 7 billion today to 2 8 billion in 2030 addressing these inequities depends upon international recognition that the projected situation is intolerable a commitment to effect the necessary change and setting targets and indicators to monitor progress a new financial institutional and technological framework is required as is capacity building in order to dramatically scale up access to modern energy services at the local and regional levels in this paper we discussed the energy situation of the developing countries for sustainable development

a market approach to long term security of supply the problem of ensuring that there is enough generation capacity to meet future demand has been an issue in market design since the beginning of the deregulation process although ideally the market itself should be enough to provide adequate investment incentives there are several factors that prevent this result from being achieved and some actual markets have already experienced problems related with a lack of generation capacity a regulatory framework to address this question is presented the procedure is based on an organized market where reliability contracts based on financial call options are auctioned so both their price and their allocation among the different plants are determined through competitive mechanisms this results in a stabilization of the income of the generators and provides a clear incentive for new generation investment with a minimum of regulatory intervention additionally the method represents a market compatible mechanism to hedge demand from the occurrence of high market prices

clean and secure power supply a system dynamics based appraisal abstract across the world the electricity industry is changing with the advent of renewable energy sources such as solar and wind power as these are exposed to intermittency seasonality and global climate variation policy makers concerns are now shifting towards security of supply in fact the industry confronts three conflicting goals security of supply competitive prices to customers and environmental protection in this context and given the multiple uncertainties of technology transformation this paper uses modelling based scenario analysis to investigate different extreme and plausible futures simulation is used to analyse policies aimed at increasing the penetration of renewables and to explore how these energy sources may affect system reliability this paper explores the effect of incorporating renewables in colombia where a large hydroelectric component has led to insufficient electricity being available during droughts and to high electricity price volatility though not intuitive at first glance this paper shows that renewables may contribute to i increased security of supply through complementarity e g it does not rain when the sun shines ii reduced price volatility in the medium term and iii increased industry sustainability

intrafirm trade arm s length transfer pricing rule and coordination failure abstract this paper demonstrates that uniform imposition of the arm s length principle on transfer pricing leads to coordination failure among countries in terms of economic welfare if the countries trade products in the form of intrafirm transactions by multinational firms mnfs to highlight this implication we first show that imposition of the arm s length principle on an mnf induces it to transfer a product among subordinate divisions at marginal cost i e the competitive price which is consistent with the purpose of the principle nonetheless if regulators in each country impose the principle on mnfs all of the following economic welfare measures decrease compared with the situation where the principle is not imposed 1 consumer welfare in each of the trading countries 2 profit of each mnf and thus 3 total world economic welfare this result indicates that it is possible that enforcement of the principle has no positive effect at all in the world because economic welfare of all economic agents deteriorates when the principle is imposed a numerical analysis demonstrates that this possibility arises in a broad range of circumstances even including the situation where a giant economic world power and a small underdeveloped country mutually trade products in these circumstances an agreement among trading countries that no country imposes the arm s length principle may encourage pareto improvement of the world economy

investment incentives in the korean electricity market abstract this paper develops a model based analysis of the effects of various capacity incentive systems on new investment in the korean electricity market the restructuring process in korea allocated power generation to six firms competing within a wholesale market albeit strictly on a cost basis because of this cost based pool capacity payments were also introduced to encourage new investment however it is an open question whether the current fixed capacity payment scheme is enough to secure resource adequacy and consideration is being given to alternative mechanisms such as the use of lolp using a detailed market simulation model based on system dynamics we compare these approaches in terms of how they may influence the investors decisions and thereby determine the system reserve margin the simulation results suggest that there may be serious problems in staying with the current fixed capacity payments in order to achieve resource adequacy in contrast an lolp based capacity mechanism may in the longer term increase the reserve margin compared with a fixed capacity payment more generally this paper indicates how crucial the effective modeling of the investment behavior of the independent power producers is for adequate policy support even if they only constitute a fringe in a substantially centrally influenced market

research on the energy saving effect of energy policies in china 1982 2006 this paper summarizes the main energy policies of china from 1980 and divides them into three groups of policies two methods with and without antitheses and linear regression are created to evaluate the energy saving effects of the energy policies and the energy saving effects of these three groups of energy policies of china are evaluated by the two methods respectively it is concluded that with and without antitheses is used to evaluate short term effects and linear regression is used to evaluate long term effects

energy use by chinese economy a systems cross scale input output analysis abstract an overview for energy use in chinese economy is presented in this study by means of a systems cross scale input output analysis to concretely reflect the cross scale effect between china and the rest of the world embodied energy intensity of foreign imports is provided on the basis of our recent work on the world economy in contrast to the conventional assumption of the same intensity for both the foreign and domestic trade in 2012 the energy embodied in gross fixed capital formation is found to constitute nearly half of the total energy use in china three quarters larger than the total household consumption approximately 40 of energy resources embodied in final use turn out to be imported from foreign regions twice the share of the direct energy imports in total energy consumption recorded by traditional direct accounting the trade imbalance in energy use is illustrated with the support of the law of comparative advantage in addition to economic benefits hidden social impacts including indirect external dependence and health costs associated with non energy trade should also be considered by the government in industrial structure adjustment the present embodiment study is expected to be remarkably supportive for sustainable energy policy making in china

modeling generation expansion in the context of a security of supply mechanism based on long term auctions application to the colombian case abstract in an attempt to provide electricity generation investors with appropriate economic incentives so as to maintain quality of supply at socially optimal levels a growing number of electricity market regulators have opted for implementing a security of supply mechanism based on long term auctions in this context the ability to analyze long term investment dynamics is a key issue not only for market agents but also for regulators this paper describes a model developed to serve this purpose a general system dynamics inspired methodology has been designed to be able to simulate these long term auction mechanisms in the formats presently in place a full scale simulation based on the colombian system was conducted to illustrate model capabilities

analysis on the policies of biomass power generation in china abstract this paper systematically collects and sorts out china polices of biomass power generation policy mainly from 2006 to 2012 based on the actual demand of the biomass power generation project according to the effect of the policy implementation it analyzes the problems about the policies such as the development goal being too large tax policies not being easy to implement the relevance amongst some policies being poor and provides some suggestions finally it concludes that biomass power generation should be developed steadily in china and fiscal supporting should not be introduced any more

geographical and environmental perspectives for the sustainable development of renewable energy in urbanizing china with rapid urbanization and industrialization china has become both the largest energy consumer and co2 emitting country in the world as a clean and low carbon energy source renewable energy is a good choice to substitute for the exhausted fossil energy the chinese central and local governments have made a series of policies and optimistic plans to promote a rapid development of renewable energies china s renewable energy development has become a key to the sustainable development of socioeconomic system unlike most of the current studies which mainly identified the challenges regarding policies and technologies around renewable energy or performed specific analyses for a certain kind of renewable energy this paper summarizes the spatial disparity and consistency among the major renewable energies coal resources energy consumption and its major influencing factors in china and reviews the positive and negative environmental impacts of major renewable energies based on the geographical and environmental perspectives this paper recommends that the chinese government constructs the national energy production bases according to the resource distribution integrates different energies on the basis of their natural features and spatial consistency adjusts the overall layout of socio economic development consistent with renewable energies and promotes a moderate renewable energy development to maximize the environmental benefits c 2013 elsevier ltd all rights reserved

a survey of china s low carbon application practice opportunity goes with challenge abstract the steady and maintainable energy supply for human development provides the strong motivation which is necessary to every country in the whole world the high strength carbon emissions has brought great harm to the earth since industrialization before hundreds of years and the global warming and extreme weather cause humans to develop low carbon economy low carbon economy has become a consensus of the entire human race no matter developed countries or developing countries which is the combination of the lifestyle changing and production structure basic changing and technical innovation it is well known that china is the largest developing country in the world with the rapid industrialization of country energy demand of chinese society is increasing in an incredible speed china has become the second largest energy consumer and the first carbon emissions country at present furthermore chinese energy structure and production methods are very inappropriate which cannot guarantee the sustainable development of china in future and therefore actively developing low carbon economy is the only road to realize china s economic development mode change and sustainable development which is supported by central government and local governments low carbon economy for china is not only an opportunity but also a great challenge firstly this paper discusses the current situation of energy supply and energy structure in china secondly current situation of units energy consumption in china is discussed thirdly some application practices of low carbon are described such as low carbon traffic low carbon city and low carbon village then the policies and law of china central government and local governments are described in the following paragraphs at the end the developmental prospect of low carbon economy in future china and the development barriers and recommendations are introduced respectively

taiwan s renewable energy strategy and energy intensive industrial policy abstract since taiwan is a densely populated island with almost no fossil energy resources the development of renewable energy is an important issue in the past industries with low energy productivity were encouraged for economic development but this structure of low energy productivity industries should now be adjusted to promote renewable energy and energy efficiency by analyzing the gross domestic product together with the energy consumption and co2 emissions for major industries in taiwan this paper considers what kinds of industries should be encouraged or discouraged for taiwan s future development in addition the recommendations for taiwan s renewable energy and energy intensive industrial policy are presented