By Hengyun Ma, Les Oxley
In the recent millennium, knowing China’s power economic climate is essential for politicians, businesspeople and effort economists, as China’s power coverage offerings will suggest either demanding situations and possibilities for the realm by way of an expanding percentage of basic power intake and funding. This ebook before everything studies the literature on China’s power economic system and in so doing finds that many vital parts were missed or are outmoded of their assurance. Given the scale of China and its international value, the publication then overview s China’s present strength state of affairs and fills the gaps within the literature when you have an interest in and anxious approximately China’s fiscal improvement and effort reform within the new millennium.
The booklet isn't the same as earlier stories in numerous very important methods: first of all, it offers contemporary, pioneering examine instead of an easy textbook, numerous sections of that have been released in top of the range strength journals. Secondly, the booklet first subdivides China's strength depth turn out to be facets of price range constraint, technological swap, issue substitution, power call for and financial progress utilizing a newly constructed econometric strategy. Thirdly, it offers many new and varied econometric findings and derives many new coverage implications for China's strength financial system. And finally, it brings to gentle a wealth of latest wisdom when you have an interest in China's power economic system, the realm power industry and international environmental and weather swap issues.
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Additional resources for China’s Energy Economy: Situation, Reforms, Behavior, and Energy Intensity
Therefore, this review will focus on five topics specifically: (1) China’s energy consumption and economic growth, (2) China’s changing energy intensity, (3) China’s energy demand and energy – nonenergy substitution, (4) the emergence of energy market in China, (5) and policy reforms in the energy industry. The reasons that we chosen these five topics are: firstly, most of the energy economy literature is covered by these five topics. Secondly, most of the papers published in energy economic journals for example, Energy Economics, Energy Policy, Environmental Modeling & Software, China Economic Review, Economic Systems, and Renewable and Sustainable Energy Reviews, predominantly include these topics.
The second group shows that economic growth Granger causes energy consumption. Papers here include Zhang and Li (2004), Fan and Zhang (2005), Wu et al. (2005), Wang and Yao (2007), Wang and Yang (2007), Liu (2006) and Liu et al. (2007). , bi-directional causality. The papers here include; Ma et al. (2004), Yuan et al. (2008) and Han et al. (2004b). It is clear, therefore, that different findings can be found across the studies. On occasion, the causality results conflict across studies even for the same time periods 22 2 A Survey of the Literature for example, Ma, Wang, He and Li (2004) find that the relationship is bi-directional for the period 1954–2002 while Wang et al.
Guo (2007) also states that the studies he reviewed (row 4) focus on energy consumption and economic growth without taking into account technological change. Therefore, he incorporates technological factors into his growth model and considers technologies embodied in energy and labor. Similarly, Wang and Yang (2006) argue that the studies they reviewed (row 5) follow traditional time series approaches and focus only on aggregate data. As a result, in their study, they conduct panel cointegration analysis for 12 major industries of China.