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Production risk, energy use efficiency and productivity of Korean industries

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  • Production risk, energy use efficiency and productivity of Korean industries
  • Khayyat, Nabaz T.; Heshmati, Almas
  • Institute for the Study of Labor


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Title Production risk, energy use efficiency and productivity of Korean industries
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Material Type Reports
Author(English)

Khayyat, Nabaz T.; Heshmati, Almas

Publisher

Bonn:Institute for the Study of Labor

Date 2014-03
Series Title; No Discussion Paper Series / 8081
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < General
Industry and Technology < Energy
Holding Institute for the Study of Labor

Abstract

Korea imports all of its primary energy, which leads to high dependency and vulnerability related to its energy supply. Efficiency in the use of energy is a way to reduce dependency and emissions. This study provides empirical results of the stochastic production process in energy use. Special attention is given to the factors that increase the risk or variation of using more of the energy input in production. A dynamic panel model is specified and applied to 25 Korean industrial sectors over the period 1970-2007. The determinants of energy use are identified and their effects in the form of elasticities of energy use are estimated. Stochastic production technology is applied to estimate an energy demand model based on an inverted factor demand. (The rest omitted)