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China’s State Energy Investment during 1991-2007: Investment Analysis and Policy Issues

Bo, Hong and Zhang, Baoshan and Oughton, Christine and Yuan, Xiaoling and Ma, Jun (2015) 'China’s State Energy Investment during 1991-2007: Investment Analysis and Policy Issues.' Regional Studies.

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Abstract

This article examines China’s state energy investment during 1991-2007 using provincial level panel data. The analysis shows that China’s state energy investment is (1) driven by demand for energy, (2) mostly unrelated to energy efficiency, (3) undertaken with the consideration of reducing negative externalities associated with energy production, (4) used by the central government to subsidize some local governments, and (5) directed to heavy industries. Policy impacts (4) and (5) are more profound in provinces in which the state’s ownership of the provincial industry is high. In addition, results (4) and (5) are stronger at the earlier stage of China’s domestic reform and before China’s entry into the WTO, which suggests that these policy impacts weaken along with the progress of China’s market transition. In sum, China’s state energy investment responds to demand signals but state ownership enables the government to implement its policy objectives, possibly at the cost of economic efficiency.

Item Type: Articles
Additional Information: Published Online 24 July 2015
Keywords: China’s state energy investment, energy demand, energy productivity, policy objectives, GMM
SOAS Departments & Centres: Faculty of Law and Social Sciences > School of Finance and Management
ISSN: 00343404
DOI (Digital Object Identifier): 10.1080/00343404.2015.1058922
Depositing User: Hong Bo
Date Deposited: 02 Jun 2015 13:24
URI: http://eprints.soas.ac.uk/id/eprint/19956

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