The Handbook of Energy Policy

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The Handbook of Energy Policy is a unique and novel reference for addressing the policy implications of energy demand and supply from their economic, political, social, planning, and environmental aspects. The Handbook of Energy Policy provides several studies from the global, regional, national, or local perspectives that are of wider policy significance. Studies provided in this book are of interest to the international organizations, governments, public and private sector entities, local communities, universities, research institutions, and other non-governmental organizations. Topics covered in the Handbook of Energy Policy are including energy security, energy poverty, energy finance, energy pricing, energy and environment, energy and sustainability, energy and growth, energy efficiency, energy trade, technological innovation and energy, energy transition, energy nexus studies, economics, and policy of fossil fuels, economics, and policy of renewable and green energies. The policy recommendations provided in all chapters are supported by a rigorous empirical or theoretical analysis.

Author(s): Farhad Taghizadeh-Hesary, Dayong Zhang
Publisher: Springer-ISETS
Year: 2023

Language: English
Pages: 967
City: Sydney

Preface
Acknowledgments
Contents
About the Editors
Contributors
Part I: The Geopolitics of Energy Markets
1 Harnessing Win-Win Energy Geopolitics and Competitive Global Energy Market by Integrating Energy Efficiency
Introduction
Background Scenario Assessment
Defining the Fields
Recent Changes in Energy Geopolitics That Are Impacting Global Energy Market and Usage
Channeling the Power of Geopolitics
Affordable Energy Supply
International Cooperation Will Change the Status Quo
Renewables Will Change the Energy Landscape, Yet Dependencies Remain
Electricity Cut-Offs as a Geopolitical Weapon
How Energy Efficiency in Reshaping Energy Geopolitics
Renewable Energy Targets
Pollution and Climate Change
Technological Innovation
Declining Costs of Renewables
Corporate and Investor Action
Public Opinion
Impact of Energy Efficiency on Energy Markets
How Energy-Efficient Applications Create New Energy Markets
Challenges for Smooth Transition to Energy Efficiency for Stabilizing Geopolitics in Energy Market
Energy Efficiency Policy Changes Alone Is Not Enough
Lack of Trust and Warmongering Mentality
Bottlenecks in Critical Materials
Cybersecurity Vulnerability
Synergistic Technological Innovation
Study Findings and Recommendations
Increasing Green Investment
Increasing the Magnitude of Energy Efficiency Savings
Diversifying the Sources of Energy Efficiency Savings
Valuing Energy Efficiency as Part of Grid
Regularly Measuring and Ensuring the Persistence of Savings
Formulating a Single International Standard
Common Institutional Frameworks at Regional Levels
Integrating Energy Efficiency Outcomes with Carbon Reduction Frameworks
Conclusion
References
2 The Geopolitics of the EU-Russia Gas Trade: Reviewing Power in International Gas Markets
Introduction
The Geopolitics of Energy Trade: A Theoretical Review and Methodological Proposition
Rethinking the Energy-Power-Trade Nexus
Power and Trade: Quicksands in the Midst of Politics and Economy
Energy Security and International Politics: A Polarized Field
One Step Forward, Two Steps Back: Baldwin´s Critique to Realist/Liberal Accounts of Power in IRT
The Polarization of the Geopolitics of the EU-Russia Gas Trade
The Realist Case of Power in the Geopolitics of the EU-Russia Gas Trade
The Liberal Case of Power in the Geopolitics of the EU-Russia Gas Trade
A Critical Revision of Power in the Geopolitics of the EU-Russia Gas Trade
The Critical Revision of the Realist Case
The Critical Revision of the Liberal Case
Conclusions and Policy Recommendations
References
Part II: Policies to Achieve Energy Security
3 Energy Convergence and Regional Energy Security: Policy Implications
Introduction
Literature Review
Importance of Energy in Asia
Energy Security in Asia
Energy Convergence in Asia
Conceptual Framework of Energy Convergence and Security in Asia
Energy Security Analysis in Asia
Regional Aspect of Energy Security of Asian Countries
Resource Abundance Role in Energy Security of Asian Countries
Government Effectiveness Role in Energy Security of Asian Countries
Income Level Role in Energy Security of Asian Countries
Discussion
Green Energy, a Potential Gateway to Energy Security and Convergence in Asia
Neo-mercantilism Approach to Energy Security and Convergence in Asia
Conclusion and Policy Recommendations
References
4 Energy Security in a Resource-Rich Economy: Case of Iran
Introduction
The Concept of Energy Security Varies on Supply and Demand Sides
About Iran´s Historical Energy Development and Policies
Ever-Increasing Energy Intensity Index in Iran
Relying on One Source of Energy to Meet Iran´s Energy Demand
Failing to Control CO2 and Air Pollutants Emission
Characteristics of Energy Security in a Resource-Rich Economy
Socio-environmental Characteristics
Poverty and Inequity
Social Movements
Environmental Concerns and International Obligations
Econo-political Characteristics
Energy Price
Affordability
Energy As an Economic Driver
Energy As a Public Good in Resource-Rich Economies
Technological Characteristics
Digitalization
Modern Open Markets
Conclusion and Policy Recommendation
Cross-References
References
5 Effective Factors and Policies in Electrical Energy Security
Introduction
Infrastructure Improvement
Distributed Energy Resources (DER) Integration
Grid Expansion Planning (GEP)
Asset Reinforcement for Natural Threats
Resource Planning
Integrated Resource Planning (IRP)
Energy Hubs (EH)
Community Microgrids
Cyber-Physical Power Systems (CPPS)
State Estimation (SE) and Attack Detection
Data Protection
Grid Maintenance
Maintenance Scheduling
Self-healing Power Systems
Market Management
Energy Pricing
Market Corruption
Geopolitics
International Policies and Treaties
Regional Considerations
Policies and Consequences: A Game to Be Played
Energy Supply Failure During the Uri Winter Storm in Texas
Cyberattacks on the US Colonial Natural Gas Pipeline
Nation-wide Summer Peak Shaving Outages in Iran
Grid Key Failure in UK-France Power Transmission Substations
Supply-Demand Imbalance Challenge in China
Demand Spike in the Central Asian Countries
Conclusion and Policy Recommendation
References
Part III: Policies to Alleviate Energy Poverty
6 Policies to Alleviate Energy Poverty in the Cooking Sector in India
Introduction
Literature Review
Energy and Development
Energy Poverty and Development
Energy Poverty and Models of Fuel Choice
Energy Poverty and Determinants of Cooking Fuel Choice by Households
Energy Poverty and Policy Reforms
Data and Methodology
Results and Discussions
Rural-Urban Pattern in Cooking Fuel Usage
Clean Cooking Fuel Trends-Observations from NFHS-52019-20 Data
Bare Necessities Index 2020-2021
Incentive Mechanism and Support Structure to Eradicate Energy Poverty in India-Role of PMUY
PMUY Scheme Impact on Energy Poverty
Regression Results Discussions
Model Diagnostic Tests
Policy Implications and Future Scope of the Study
Conclusion and Recommendation
Cross-References
References
7 Policies to Alleviate Energy Poverty: From Fundamental Concepts to a Practical Framework in the New Era
Introduction
Conceptual Map of Energy Poverty
Definitions and Measurements
Drivers and Impacts
Clusters and Literature Trends
Key Findings on Global Energy Poverty
Global Distributions of Energy Poverty
COVID-19 Pandemic and Energy Poverty
A Policy Framework for Tackling Energy Poverty
Achieving Omni-Directional Collaborations
The Cooperation of International Organizations
Cross-Regional Coordination
Setting Multiregional Targets
Developed Versus Developing Countries
Urban Versus Rural Areas
Making Multi-Layered Contributions
Governments
Companies
Communities
Households
Building Multidimensional Systems
The Economic Perspective
The Social Perspective
The Legislative Perspective
The Climatic Perspective
The Technological Perspective
Outlook on Monitoring Energy Poverty
Conclusions and Policy Recommendations
Cross-References
References
Part IV: Energy Trade and Integration Policies
8 Role of Electricity Trade in South Asian Energy Security
Introduction
Energy Scenario in the South Asia
India
Energy Trade and Energy Security in South Asia
The Rationale for Regional Energy Trade
SARI/E and SARI/EI Program
SAARC Energy Ring
South Asia Subregional Economic Cooperation (SASEC)
Bay of Bengal Initiative for Multisectoral Technical and Economic Cooperation (BIMSTEC)
Opportunities and Challenges for Energy Trade in South Asia
Key Aspects of the Power Sector of South Asia Member Countries
Power Procurement and Power Tariff
Power Purchase in Case of Bhutan and India
Power Purchase in Case of Nepal and India
Some of the Key Benefits of Regional Power Trade in South Asia
Some of the Key Opportunities for Energy Cooperation in the Region
Some of the Key Challenges to Energy Cooperation in the Region
Power Grids and Their Interconnection in South Asia
Gradual Transition to Trilateral Cross-Border Power Trade in South Asia
Future Plan for BIMSTEC Power Grid
Conclusion
Cross-References
References
9 Towards the Sustainable Development Through Energy Transnationalism: Study of Integrated Energy Markets in Asia
Introduction
Energy as a Geopolitical and Diplomatic Tool
Towards the Single Market: Energy Transnationalism: European Story
Asian Energy Demand Scenario and Cross-Border Energy Trade in the Region
Comparative Analyses of Institutional Frameworks of Southeast Asia and South Asia
Energy Connectivity Initiatives in Southeast Asia and South Asia
SWOT Analyses: Integrated Energy Network in South Asia
Conclusion and Policy Recommendations
References
Part V: Energy Pricing Policies
10 Fossil Fuel Subsidy Reform Policy
Introduction
What Is the Impact of Fossil Fuel Subsidies?
Overuse and Waste of Resources
Hindering Economic Growth
Inequality of Fossil Fuel Subsidies
Increase in Pollution and Carbon Emissions
Hinders at the Development and Use of Clean Energy Technologies
What Is the Impact of Fossil Fuel Subsidy Reform?
Reforms Could Affect the Economic System
Impact at the Microeconomic Level
Impact at the Macroeconomic Level
Reform Could Affect Social Welfare
Impact on Residents´ Welfare
Impact on the Interests of the Poor
The Impact of Increasing Block Tariffs on Consumer Welfare
Reform Could Affect Carbon Emissions and Air Pollution
Reforms Could Stimulate Development of Clean Energy
Conclusion and Policy Recommendations
Specific Reforms in Fossil Fuel Subsidies Need to Be Aligned with Local Conditions
Consumers Need to Be Compensated for the Loss of Welfare
Implement Targeted Subsidies for Consumers After the Elimination of Cross-Subsidies
Subsidy Shift from Conventional Fossil Fuels to Cleaner Energy
It Is More Effective to End Fossil Fuel Subsidies Gradually Than All at Once
References
11 Oil Market Reforms and Pricing Policy Evolution in China
Introduction
Macro- and Microeconomic Foundations of Oil and Gas Market Reform in China
Macroeconomic Theories
Microeconomic Theories
Development of China´s Oil and Gas Sector
The First Stage: Establishment and Initial Development
The Second Stage: Delegation of Powers and Profit Shifting
The Third Stage: Marketization and Pricing System Reforms
The Fourth Stage: Continued Marketization
The Fifth Stage: Development During the New Normal Era
Stylized Facts, Challenges, and Options in China´s Oil and Gas Market Reform
Switching from a Traditional Top-Down Reform to a Market-Led Reform
Mitigating Oligopolistic Dominance in China´s Oil and Gas Sector
From Administrative Regulation to Better Corporate Governance
Immature Price Formation Mechanisms
Pandemic-Induced Risks
Policy Evaluation of China´s Oil and Gas Market Reform
The Efficiency Criterion
The Equality and Social Welfare Criterion
The Risk Criterion
The Sustainability Criterion
Oil Pricing Mechanism: China´s Crude Oil Futures Market
Conclusion and Policy Recommendations
References
Part VI: Energy Finance: Most Recent Developments and Policies
12 Rethinking Green Finance in Greenfield Investments: The Moderating Role of Institutional Qualities on Environmental Perform...
Introduction
The Asian Context
Institutional Quality, Foreign Direct Investment, and Environmental Performance Scenario in Asia
Literature Review
Greenfield Investment, Merger and Acquisitions (M & A), and Economic Growth Nexus
Environmental Performance and Economic Growth Nexus
Data, Model, and Methodology
Data and Preliminary Data Analysis
Estimation Approach
Testing Cross-Sectional Dependence
Panel Unit Root Tests
Panel Cointegration Tests
Estimation of a Long-Term Relationship
Granger Causality Test: Panel Short-Term and Long-Term Causality Test
Results and Discussion
Cross-Sectional Dependence Tests
Cointegration Tests
Long-Term Estimation
Conclusion and Policy Implications
References
13 Policies to Attract Private Investment and Finance in Green Energy Projects
Introduction
Green Projects: Problems and Challenges
Insufficiency of Long-Term Financing
Existence of Various Risks
The Challenge of the Rate of Return in Sustainable Projects
Policies to Unlock Green Finance and Investments
Proportion of NBFIs in Investment
Establishment of Green Credit Guarantee Schemes to Lower Credit Risk
Spillover Tax: An Efficient Tool to Raise Return Rate
Carbon Tax Collection from Polluting Industries and Investment in Green Projects
De-risking of Sustainable Projects
Tools to Promote Sustainable Projects
Example of Green Finance Management
CGSs Approach to Fixed Capital Provision
Characteristics of Community-Based Funds
Concluding Remarks and Policy Implications
References
14 Energy Market Financialization and Its Policy Implications
Introduction
Stylized Facts in Energy Markets
Capital Inflows to Energy Markets
Excess Volatility of Energy Prices and Its Drivers
The Role of Fundamental Factors
The Role of Financial Factors
Comovements Between Oil and Nonenergy Commodity Prices
Comovements Between Energy and Financial Assets
Oil Shocks and Stock Market Performance
Challenges and Opportunities from Energy Financialization
Predicting Energy Prices
Energy Risk Management
Energy Investment
Conclusion and Policy Implications
References
Part VII: Energy Policies for Sustainable Development
15 Challenges in Shaping Sustainable Energy Policy in Greater Mekong Subregion
Introduction
Literature Review
Data
Dynamic Changes in Energy Cooperation
Laos-Thailand
Laos-Vietnam
Laos-China (Yunnan and Guangxi)
Laos-Myanmar
Laos-Cambodia
Cambodia-Vietnam
Cambodia-Thailand
Myanmar-Thailand
Myanmar-China (Yunnan and Guangxi)
Thailand-China
Vietnam-China (Yunnan and Guangxi)
Energy Sector Development and Challenges
Energy Mix
Cambodia
Laos
Myanmar
Thailand
Vietnam
Conclusion and Policy Recommendations
Cross-References
References
Part VIII: Policies for Sustainable Energy Innovations and Technologies
16 Technology Diversification in Renewable Mini-Grid Portfolios
Introduction
Promoting Renewable Energy Investments: The Role of Mini Grids
The Policies to Promote Renewable Energy Investments
The Role and Potential of Mini Grids
Research Design
Research Question and Setting
Methodology
Optimal Portfolio Computation
Results
Conclusion and Policy Recommendations
References
17 Leveraging Digitalization for Improving Energy Efficiency
Introduction
Literature Review
Digitalization and Energy System
Impact of Digitalization on Energy Efficiency
Conclusion and Policy Recommendations
References
Part IX: Renewable Energy Policies and Energy Transition
18 Determinants of Energy Transition in Asia
Introduction
Energy Transition Policies and Road Maps in Asia
Energy Transition: Main Streams and Literature Gap
Relationship Between Energy Transition and Macroeconomic Variables: A Theoretical Analysis
Empirical Discussion
Conclusion and Policy Recommendations
References
19 Solar Module Price Determinants
Introduction
Literature Review
Overview of Solar Module Price
Price Reduction Mechanism
R&D Expenditure in the Solar Industry
Relationship Between Oil Prices and Renewable Energy
Different Channels of Exchange Rate Influencing Solar Module Price
Empirical Analysis
Data Analysis
Unit Root Test
Cointegration Test
Regression Results
Conclusion and Policy Recommendations
Appendix
Solar Module Pricing Model
Knowledge Stock
References
20 Toward an Optimized Biofuel Use Pathway for Indonesia Road Transport
Introduction
International Experiences in Biofuel Development
Brazil
United States
European Union
Thailand
State-of-the-Art Biofuel Development in Indonesia
Current Production Paths
CPO-based Biodiesel
Bioethanol: First Generation
Bioethanol: Second Generation
Green Fuels
Fuel Quality Improvement
Food Security and the Need for Other Uses of Biofuels
Scenario Impact Assessments
Blending Mandate Scenarios
Biofuel as Alternative Fuel Scenarios
Six Main Principles of the Biofuel Development Pathway
Conclusion and Policy Recommendations
Cross-References
References
21 Artificial Intelligence (AI) in the Nuclear Power Plants: Who Is Liable When AI Fails to Perform
Introduction
Social Trust in Nuclear Energy: The Nuclear Debate
AI in Nuclear Energy
International Nuclear Liability Regime
AI and Nuclear Liability
The Way Forward
Conclusion
Cross-References
References
22 Hydrogen as Energy Storage for Renewables in East Asia: Economic Competitiveness and Policy Implications
Introduction
Literature Review
Hydrogen as Storage for Renewable Energy in the Power Sector
Hydrogen Use in Remote Island Locations
Hydrogen Produced from Renewable Energy Sources to Supply Fuel Cell Electric Vehicles
Summary of the Literature Review
Quantitative Methodologies and Results
Model Concept
Renewable Energy to Hydrogen: Production, Transport, and Distribution
Power Sector Applications
Road Transport Sector Applications
Case Studies on Hydrogen Energy Industry in China and Japan
Lessons from China
Lessons from Japan
Policies to Support the Development of Hydrogen Energy in the Region
Conclusions and Policy Implications
References
Part X: Energy Efficiency Policies and Programs
23 Energy Efficiency (EE) for Climate Action: Evolution of India´s EE Policies and Way Forward
Introduction
Background and History of EE in India
Institutional Framework
Ministry of Power (MoP)
Bureau of Energy Efficiency (BEE)
Other Ministries
Policy Overview and Specific Program
Industry
PAT Cycles and Their Impact
Micro, Small, and Medium Enterprises (MSME)
BEE: Small and Medium Enterprises (SME) Program
GEF-UNIDO-BEE Program: Promoting Energy Efficiency and Renewable Energy (RE) in Selected MSME Clusters of India
GEF-World Bank-BEE Program: Financing Energy Efficiency at MSMEs
EESL-UNIDO-GEF Program: ``Promoting Market Transformation for Energy Efficiency in Micro, Small & Medium Enterprises´´
Buildings
Energy Conservation Building Code (ECBC)
ECBC Residential (ECO Niwas Samhita) and Residential Labeling Program
BEE Star Rating: Existing Buildings
Building Energy Efficiency Program (BEEP)
Other Rating Systems (LEED, GRIHA, IGBC)
Standards and Labeling
Lighting
Municipality
Agriculture Demand Side Management (AgDSM)
Transport Sector
Corporate Average Fuel Economy (CAFÉ)
Accelerating E-Mobility Adoption in India
Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) - 1
Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) - 2
Energy Efficiency in the Railway Sector
Cumulative Results and Impact
Barriers and Challenges
Energy Efficiency Financing
Lack of Awareness Among Financial Institutions
Institutional Capacity at the State Level
Monitoring, Verification, and Enforcement
Lack of Awareness Among End-Users
Lack of Technical Capacity
ESCO Business Model
Way Forward: Conclusion and Recommendations
Recommendations
Glossary
References
24 Energy Efficiency and Electricity Reforms: A Way Forward for Clean Power Development
Introduction
Literature Review
Energy Efficiency Index Approach
Results and Discussion
Electricity Reforms and Energy Efficiency
Electricity Reforms
Conservation Opportunities
Technical and Economic Feasibility for Maximizing System Efficiency
Improving Energy Efficiency and the Electricity Reform Process
Scenario-Based Electricity Reform
Scenario (A)
Scenario (B)
Scenario (C)
Scenario (D)
Conclusion and Policy Implication
References
Part XI: Energy Nexus Studies
25 Volatility Linkages Between Energy and Food Prices
Introduction
Consumption of Energy and Agricultural Output
Characteristics of Agricultural Economy in Asia
Characteristics of Food Security in Asia
Energy Supply and Demand in Asia
Volatility of Energy Prices Versus Agricultural Commodity Prices
Energy and Food Price: Theoretical Discussion
Energy and Food Price: Econometric Discussion
Discussion
Conclusion and Policy Recommendations
Concluding Remarks
Practical Policies
Further Recommendations
References
26 Energy-Pollution-Health-Economy Nexus Study in Southeast Asia
Introduction
Air Pollution, Human Health, and the Economy
Lung Cancer Status in ASEAN
The Economic Burdens of Lung Cancer
Empirical Analysis
Data Analysis
Empirical Analysis
Health Analysis
Economic Analysis
Robustness Checking
Conclusions and Policy Recommendation
Conclusions
Policy Recommendation
Future Directions
References
27 Intermarket Risk Transmission Across Energy, Carbon, and Commodities
Introduction
Risk Transmission Across Top Energy Firms
The Importance of Studying Firm-Level Risk Spillovers in the Energy System
Measuring Extreme Risk Spillovers Across Energy Firms
Identifying Systemically Important Regions, Industries, and Energy Firms
Driving Factors of Extreme Risk Spillovers Across Energy Firms
Risk Transmission Across Commodity Futures Prices
Stylized Facts of the Global Commodity Markets
Constructing Risk Dependency Networks Across Commodity Markets
Identifying Systemically Important Commodities
Building a Centrality Network of Commodity Futures Prices
Identifying Drivers of Commodity Price Co-movement
Measuring Commodity Return Co-movement by the MST
MST and Central Nodes
The Role of Idiosyncratic Information
Fundamental and Non-fundamental Drivers of Commodity Return Co-movement
Conclusion and Policy recommendations
References
Part XII: Electricity Market Policy
28 Wholesale Electricity Price, Carbon Emissions, and Economic Output in Australia: The Role of Carbon Pricing
Introduction
Price Formation in the National Electricity Market (NEM) in Australia
Empirical Model, Data, and Methodology
Model Specification
Data Description
Scenario Design
Econometric Methodology
ARDL (Auto-Regressive Distributed Lag) Model
Granger Causality Test
Empirical Result Analysis
Unit Root Test
Co-Integration Test
ARDL Estimation: Long-Run and Short-Run
Model Diagnostic Test Results
Results from the VECM Granger Causality Test
Impulse Response Functions and Variance Decompositions Analyses
Conclusions and Policy Implications
References
29 An Empirical Analysis of Reform and Efficiency in China´s Electricity Sector
Introduction
Institutional Background
History of Electricity Market Reforms
The First Phase (1949-1984)
The Second Phase (1985-2014)
The Third Phase (2015 -Now)
Evolution of Chinese Electricity Pricing Mechanism
Thermal Power
Hydropower
Wind Power
Photovoltaic Power (PV)
Background Summary
Efficiency Trends in Chinese Thermal Power
Efficiency Indicators of Thermal Power Plants
Data
Efficiency of Thermal Power
Electricity Market Reforms and Thermal Power Plant Efficiency in China
Empirical Model
The 2002 Reform and Thermal Power Plant Efficiency
Direct Trading Policy and Thermal Power Plant Efficiency
Concluding Remarks
References
30 Identifying and Prioritizing the Indicators of the Optimal Districting in Electricity Distribution Companies
Introduction
Literature Review
Electricity Distribution Companies: A State of the Art
Districting Problems in the Service Sector
Methodology
Content Validity Ratio (CVR)
Interpretive Structural Modeling (ISM)
Best-Worst Method (BWM)
Analytic Network Process (ANP)
Proposed Method: Integration of the Techniques
Results and Discussion
Conclusion and Policy Recommendations
References
Part XIII: Economics and Policy of Fossil Fuels
31 The Vulnerability to Oil Price Shocks of the Bangladesh Economy
Introduction
Main Methodologies Used in the Economic Literature on Oil Price Shocks
Dynamic Stochastic General Equilibrium (DSGE) Methods
Econometric Methods
Vector Autoregression (VAR) Models
Causality Analysis
Estimation Techniques
Review of DSGE Models and Oil Price Shocks in Bangladesh
A Prototype Energy-Augmented DSGE Model for Bangladesh
The Production Sector
The Energy Sector
The Household
The Government
Model Shocks
Equilibrium Condition
Model Calibration
Results and Discussions on Oil Price Shocks Analysis (For More Details, See Amin, 2015)
Model Extensions
Review of Econometric Studies on Oil Price Shocks in Bangladesh
Econometric Studies of Oil Price Shocks and Interest Rates
Econometric Studies of Oil Price Shocks and Exchange Rates
Econometric Studies of Oil Price Shocks and Inflation
Econometric Studies of Oil Price Shocks and Stock Market
Econometric Studies of Oil Price Shocks and GDP
Conclusion
References
32 Policy Dilemmas and Solutions to the Successful Energy Transition
Introduction
Energy Transition, Crisis, and Policy Dilemmas
Economic Incentives and Resource Misallocation
Restructuring the Current Energy System
Investment and Financing
Technological Progress and Green Innovation
Energy Transition and Social Justice
Options
Enhance Collaboration and Discussion
Improve Governance
Incentivize Participation by the Private Sector
Aim for a Just and Inclusive Transition Path
Establish a Managed Market Mechanism
Conclusion and Policy Recommendations
References
33 Transmission of Oil Price Fluctuations Through Trade Linkages
Introduction
Literature on Oil Price Shock and Trade Relationship
Empirical Discussion
Discussion
Conclusion and Policy Recommendations
Concluding Remarks
Policy Implications and Recommendation to Future Research
Cross-References
References
Index