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Research on energy-saving effect of technological progress based on Cobb-Douglas production function

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  • Yuan, Chaoqing
  • Liu, Sifeng
  • Wu, Junlong
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    Abstract

    Energy issues receive more and more attention these days. And it is considered that technological progress is an essential approach to save energy. This essay is to analyze the relation between energy intensity and technological progress by Cobb-Douglas production function in which energy, labor, capital and technological progress are taken as independent variables. It proves that the growth of output per capital and output per labor will increase energy intensity while technological progress will decrease energy intensity. Empirical research on Chinese industry is used here to indicate technological progress greatly decreases energy intensity. Because of the interferences of Asian financial crisis, there is something abnormal in the data. So in the empirical research, average weaken buffer operator (ABWO) is applied to weaken the interference of Asian financial crisis to the fixed assets, energy and value added. The results of the empirical research show that technological progress decreases energy intensity of Chinese industry an average of 6.3% every year in China.

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    File URL: http://www.sciencedirect.com/science/article/B6V2W-4W8KHSF-4/2/e79d9824d804cb586163b1bf1a8e7f8a
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    Bibliographic Info

    Article provided by Elsevier in its journal Energy Policy.

    Volume (Year): 37 (2009)
    Issue (Month): 8 (August)
    Pages: 2842-2846

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    Handle: RePEc:eee:enepol:v:37:y:2009:i:8:p:2842-2846

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    Web page: http://www.elsevier.com/locate/enpol

    Related research

    Keywords: Energy intensity Technological progress Cobb-Douglas production function;

    References

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    1. PEREZ-BARAHONA, Agustin & ZOU, Benteng, . "Energy-saving technological progress in a vintage capital model," CORE Discussion Papers RP -1875, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. John Gibson & Bongguen Kim & Hengyun Ma & Les Oxley, 2008. "China’s Energy Economy: Technical Change, Factor Demand and Interfactor/Interfuel Substitution," Working Papers in Economics 08/01, University of Canterbury, Department of Economics and Finance.
    3. Neij, Lena & Astrand, Kerstin, 2006. "Outcome indicators for the evaluation of energy policy instruments and technical change," Energy Policy, Elsevier, vol. 34(17), pages 2662-2676, November.
    4. Berglund, Christer & Soderholm, Patrik, 2006. "Modeling technical change in energy system analysis: analyzing the introduction of learning-by-doing in bottom-up energy models," Energy Policy, Elsevier, vol. 34(12), pages 1344-1356, August.
    5. BOUCEKKINE, Raouf & POMMERET, Aude, . "Energy saving technical progress and optimal capital stock: the role of embodiment," CORE Discussion Papers RP -1703, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    6. van Zon, Adriaan & Yetkiner, I. Hakan, 2003. "An endogenous growth model with embodied energy-saving technical change," Resource and Energy Economics, Elsevier, vol. 25(1), pages 81-103, February.
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    Cited by:
    1. Taghizadeh Hesary Farhad & Naoyuki Yoshino, 2013. "Empirical Analysis of Oil Price Determination Based on Market Quality Theory," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-044, Keio/Kyoto Joint Global COE Program.
    2. Lin, Boqiang & Zhang, Guoliang, 2013. "Estimates of electricity saving potential in Chinese nonferrous metals industry," Energy Policy, Elsevier, vol. 60(C), pages 558-568.
    3. Linna, Lu & Lei, Yalin & Jianping, Ge, 2012. "Economic impact measurement and evaluation of China's investment in geological exploration: The empirical analysis based on the data from 1999 to 2009," Resources Policy, Elsevier, vol. 37(3), pages 375-384.

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