| id |
eprints-24061
|
| recordtype |
eprints
|
| institution |
SOAS, University of London
|
| collection |
SOAS Research Online
|
| language |
English
|
| language_search |
English
|
| description |
Climate change mitigation challenges national economies to increase productivity while reducing fossil energy consumption. Fossil energy-saving technical change has been assumed to accomplish this, yet empirical evidence is scarce. This paper investigates the long-run relationship between the rate and direction of technical change with respect to fossil energy and labor in the world economy. Growth rates of labor productivity and the fossil energy-labor ratio are examined for more than 95 of world output between 1950 and 2012. The average elasticity of the energy-labor ratio with respect to labor productivity is close to one, implying highly energy-using technical change, but no trade-o between factor productivity growth rates. This stylized fact suggests the importance of a cheap, abundant energy supply for robust global growth, and a more important role for renewable energy. Integrated assessment models do not incorporate this restriction which may result in poorly speci ed baseline scenarios.
|
| format |
Monographs and Working Papers
|
| author |
Semieniuk, Gregor
|
| author_facet |
Semieniuk, Gregor
|
| authorStr |
Semieniuk, Gregor
|
| author_letter |
Semieniuk, Gregor
|
| title |
Fossil energy in economic growth: A study of the energy direction of technical change, 1950-2012
|
| publisher |
SPRU - Science Policy Research Unit Working Paper 2016-11
|
| publishDate |
2016
|
| url |
https://eprints.soas.ac.uk/24061/
|
