Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.ecolecon.2018.01.008 |
Useful Exergy Is Key in Obtaining Plausible Aggregate Production Functions and Recognizing the Role of Energy in Economic Growth: Portugal 1960-2009 | |
Santos, Joao1; Domingos, Tiago1; Sousa, Tania1; St Aubyn, Miguel2 | |
2018-06-01 | |
发表期刊 | ECOLOGICAL ECONOMICS
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ISSN | 0921-8009 |
EISSN | 1873-6106 |
出版年 | 2018 |
卷号 | 148页码:103-120 |
文章类型 | Article |
语种 | 英语 |
国家 | Portugal |
英文摘要 | The role of energy in economic growth is controversial. Models based on aggregate production functions (APF) range from the neoclassical, which downplay energy due to a cost-share theorem, but typically rely on exogenous total factor productivity (TFP), to the ecological economic, which acknowledge energy's importance. The validity of the APF concept itself is questioned. Here, we apply cointegration analysis to identify APFs between output, capital, labor, and possibly energy, measured as primary energy or useful exergy. We test for TFP growth by including a time trend. We require that plausible APFs verify cointegration, non-negative output elasticities, and Granger-causality linking inputs to output. Our method recognizes cases where: a) plausible APFs do not exist (thereby addressing the APF critique); b) energy impacts growth directly; c) energy impacts growth indirectly, through capital and labor. We apply the method to Portugal (1960-2009), considering standard and quality-adjusted capital/labor measures. With a time trend or disregarding energy, plausible APFs are never found. Without a trend, plausible APFs are found only when considering capital-energy-labor combinations. Within these, with quality-adjusted capital and labor and useful exergy, results are consistent with the cost-share theorem but energy plays a central role, through a constraint on all factors of production. |
英文关键词 | Useful exergy Aggregate production function Cointegration Granger causality Cost shares |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000430763700010 |
WOS关键词 | MULTIVARIATE COINTEGRATION ANALYSIS ; TECHNICAL CHANGE ; USEFUL WORK ; VECTOR AUTOREGRESSIONS ; ERROR-CORRECTION ; MONTE-CARLO ; UNIT ROOTS ; CONSUMPTION ; US ; COUNTRIES |
WOS类目 | Ecology ; Economics ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Environmental Sciences & Ecology ; Business & Economics |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/15490 |
专题 | 资源环境科学 |
作者单位 | 1.Univ Lisbon, Inst Super Tecn, Dept Mech Engn, MARETEC Marine Environm & Technol Ctr,Environm &, Ave Rovisco Pais 1, P-1049001 Lisbon, Portugal; 2.Univ Lisbon, ISEG, Dept Econ, UECE Res Unit Complex Econ, Rua Miguel Lupi 20, P-1249078 Lisbon, Portugal |
推荐引用方式 GB/T 7714 | Santos, Joao,Domingos, Tiago,Sousa, Tania,et al. Useful Exergy Is Key in Obtaining Plausible Aggregate Production Functions and Recognizing the Role of Energy in Economic Growth: Portugal 1960-2009[J]. ECOLOGICAL ECONOMICS,2018,148:103-120. |
APA | Santos, Joao,Domingos, Tiago,Sousa, Tania,&St Aubyn, Miguel.(2018).Useful Exergy Is Key in Obtaining Plausible Aggregate Production Functions and Recognizing the Role of Energy in Economic Growth: Portugal 1960-2009.ECOLOGICAL ECONOMICS,148,103-120. |
MLA | Santos, Joao,et al."Useful Exergy Is Key in Obtaining Plausible Aggregate Production Functions and Recognizing the Role of Energy in Economic Growth: Portugal 1960-2009".ECOLOGICAL ECONOMICS 148(2018):103-120. |
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