Energy demand in industry [electronic resource] : what factors are important? / Nabaz T Khayyat.
2015
HD9502.K62
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Title
Energy demand in industry [electronic resource] : what factors are important? / Nabaz T Khayyat.
ISBN
9789401799539 electronic book
9401799539 electronic book
9789401799522
9401799539 electronic book
9789401799522
Published
Dordrecht : Springer, 2015.
Language
English
Description
1 online resource (xix, 196 pages) : illustrations.
Item Number
10.1007/978-94-017-9953-9 doi
Call Number
HD9502.K62
Dewey Decimal Classification
333.7909957
Summary
The book presents a stochastic analysis based on production risk and application of this method in the industrial sector under production risk where energy use is an input factor. ℗ℓUsing South Korea as a case study, the book empirically models energy demand at the industrial level and analyzes the results to identify key determinants of energy demand, productions level, productions risk and energy usage efficiency. Particular attention is paid to the factors that enhance production risk or increase variations in energy input during production. A dynamic panel model is specified and applied to 25 Korean industrial sectors over the period 1970-2007. The determinants of energy usage are identified and their effects in the form of elasticities of energy usage are estimated. In addition the structural changes in the energy demand pattern are explored. Stochastic production technology is applied to create two primary models: A production model where the energy usage is a determinant of output, and an energy demand model based on an inverted factor demand model where demand is a key determinant of the level of energy usage. The findings reveal that: First, there are large variations in the degree of overuse or inefficiency in energy usage among the individual industries and over time; second, ICT (information and communication technology) capital and labor are substituting energy; third, ICT capital and value added services are two input factors decreasing the variability of energy demand while non-ICT capital, material and labor are increasing the variability of energy demand.℗ℓ Finally, the results suggest that technical progress contributes more to the increase of mean of energy demand than to the reduction of the level of risk. ℗ℓAn emerging recommendation is that industries increase the level of ICT capital and digitalization and invest more in R&D activities and value added services to reduce the uncertainty related to their demand for energy. This study forms the structure of the demand for energy under stochastic production risk for the South Korean industrial sector. Public research programs aimed at the industrial sector should be concerned about both mean and risk properties in research on new technologies and in the investigation of possible alternative energy inputs. This book describes the state of the art in energy usage analysis and production risk, applying factor requirement methodology. It will be of use as a main or supplementary text in the teaching of advanced graduate courses but also as a reference for those working on empirically advanced research. The book is an important addition to the existing literature on industrial development, with its focus on energy as a core production input.
Bibliography, etc. Note
Includes bibliographical references and index.
Access Note
Access limited to authorized users.
Source of Description
Online resource; title from PDF title page (SpringerLink, viewed August 14, 2015).
Series
Green energy and technology.
Available in Other Form
Print version: 9789401799522
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Table of Contents
1 Overview
2 History Of Economic Development In South Korea
3 Survey Of Existing Researches Related To Energy Demand
4 Survey Of Existing Researches Related To Production Risk
5 Econometrics Of Panel Data Estimation
6 Energy Demand Data
7 Energy Demand Models Estimation
8 Energy Demand Model I
9 Energy Demand Model Ii
10 Summary And Conclusion.
2 History Of Economic Development In South Korea
3 Survey Of Existing Researches Related To Energy Demand
4 Survey Of Existing Researches Related To Production Risk
5 Econometrics Of Panel Data Estimation
6 Energy Demand Data
7 Energy Demand Models Estimation
8 Energy Demand Model I
9 Energy Demand Model Ii
10 Summary And Conclusion.