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Digitalization of the economy for fossil fuels efficiency and carbon neutrality

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  • Ma, Xuewen
  • Zhang, Dongming

Abstract

This study examines digitalization's impact on fossil fuel efficiency in Asian countries across income levels (poor and rich) from 2000 to 2020 using the System-GMM method. Findings reveal that the influence of digitalization on optimal fossil fuel consumption is income-dependent. Wealthy Asian nations exhibit a positive correlation between digitalization and fuel efficiency due to robust socio-economic infrastructure. In contrast, impoverished Asian countries experience negative effects on efficiency due to heightened electricity consumption. Consequently, distinct policy approaches are necessary. Affluent nations can focus on establishing green financial markets, integrating fintech and big data, fostering innovation, and expanding patents. Impoverished nations should prioritize rural electrification, implementing green fiscal policies, and enhancing sustainable education for tailored development.

Suggested Citation

  • Ma, Xuewen & Zhang, Dongming, 2023. "Digitalization of the economy for fossil fuels efficiency and carbon neutrality," Resources Policy, Elsevier, vol. 86(PA).
    • Handle: RePEc:eee:jrpoli:v:86:y:2023:i:pa:s0301420723008449
    DOI: 10.1016/j.resourpol.2023.104133
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    More about this item

    Keywords

    Fossil fuels efficiency; Resource policy; Digitalization; Alternative resource expansion; Asia;
    All these keywords.

    JEL classification:

    • N51 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: Pre-1913
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • L72 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Other Nonrenewable Resources

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