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Energy efficiency and firm growth

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Frame of Image one: +82-52-714-2221; Email: parkw@keei.re.kr *** Head, Advanced Economics Team, Research Department, The Bank of Korea, Phone: +82-2-759-5284; Email: bokyu@bok.or.kr We are grateful to Won Gyu Choi, Jin-Su Park, Seryoung Park, Sunyoung Jung and participants in the seminar at the Bank of Korea whose useful comments have significantly improved this paper. All the remaining errors are our own. This joint paper was drafted while Dr. Bok-Keun Yu was working at the BOK Economic Research Institute.
Contents
Ⅰ. Introduction ····················· · ·· ·· ·· ·· ·· ·· ·· ·· ·· · 1 · ·· ·· · ·· ·· ·· ·· ·· ·· ·· ·· ·· ·· ·· ·· ·· ·· · ·· ·· ·
Ⅱ. Measurement and Comparison of Energy Efficiency ·· ·3 ·
1. Measurement of energy efficiency ··············· 3 ··············· ··············· ·············· 2. Comparison of energy efficiency by country and industry ····5 ···· ··· ···
Ⅲ. Empirical Methodology ·············· 11 ·········· ···· ······· ······· ···· ··········
1. Empirical model ·······················11 ··········· ············ ··········· ··········· ··········· ··········· 2. Data construction ······················ 12 ······················ ······················ ·····················
Ⅳ. Estimation Results ·················17 · · ·· · · · · ·· · · · ·· · · ·· · · · · ·· · · · · ·· · · · · · · ·· · · · · ·· · · · ·
Ⅴ. Conclusion ·····················21 ·· ··· ·· ··· ··· ··· ·· ··· · ··· ·· ··· ··· ··· ·· ··· ··· ·· ··· ··· ··· ·· ··· ·
References ·······················22 ······


Full Text
Title Energy efficiency and firm growth
Similar Titles
Material Type Articles
Author(English)

Choi, Bongseok; Park, Wooyoung; Yun, Bok-Keun

Publisher

[Seoul]:The Bank of Korea

Date 2015-11
Journal Title; Vol./Issue BOK Working Paper:no. (2015-28)
Pages 28
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Conditions
Industry and Technology < Energy
Holding The Bank of Korea; KDI School

Abstract

Using micro-level data, we attempt to identify the causal relationship between energy efficiency and firm growth in 6 countries (France, Germany, Japan, Korea, the U.K., and the U.S.) and 22 manufacturing industries during the period of 1990-2005. We run a panel regression of firm growth in a country- and industry-specific relative energy efficiency (REE) to the corresponding industrial sector in the benchmark country (the U.S.) in addition to the traditional energy efficiency measure (EE) using simply the inverse of energy intensity, after controlling several firm, industry, and country variables. We find that REE and EE might have a somewhat different impact on firm growth in terms of profits, although improvements in both REE and EE have a positive effect on the growth rate of sales and capital accumulation. (The rest omitted)