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Assessing the effectiveness of the ‘Green Economic Stimulus’ in South Korea : Evidence from the energy sector

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  • Assessing the effectiveness of the ‘Green Economic Stimulus’ in South Korea
  • Mundaca, Luis; Damen, Beau
  • International Association for Energy Economics


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Title Assessing the effectiveness of the ‘Green Economic Stimulus’ in South Korea
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Sub Title

Evidence from the energy sector

Material Type Proceedings
Author(English)

Mundaca, Luis; Damen, Beau

Publisher

Antalya, Turkey : International Association for Energy Economics

Date 2015-01
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Industry and Technology < Energy
Industry and Technology < Science/Technology
Holding Lund University
License

Abstract

The purpose of this paper is to provide an ex-post evaluation of the effectiveness of the South Korean Green New Deal (GND) as an instrument to deliver both an economic recovery and improved environmental performance. We use the energy sector as the main scope for our analysis when measured against climate-related indicators (e.g. CO2 emissions, energy intensity, share of renewable energy in supply mix) adopted by the South Korean government as part of a broader commitment to green growth. The research involves complimentary methods to assess the economic and environmental effectiveness of the GND at the macro-level; including the so-called ‘Three T test’, a time series variability analysis and an econometric assessment. From a pure economic perspective, results suggest that the GND has been relatively successful as traditional fiscal stimulus. However, the GND seems ineffective as an instrument of environmental policy; at least in the short-term. (The rest omitted)

User Note

Paper presented at the 38th International Association for Energy Economics (IAEE) International Conference, Antalya, Turkey, 25-27 May 2015