Publication detail

Mechanism of directed technological investment on energy productivity and energy structure: A unified theoretical framework

SUN, XJ. FAN, Y. LEI, YL. PAN, T. VARBANOV, P.

Original Title

Mechanism of directed technological investment on energy productivity and energy structure: A unified theoretical framework

Type

journal article in Web of Science

Language

English

Original Abstract

The mechanisms and effects of technological investment on energy productivity and energy structure in the petrochemical industry remain unclear due to the directional nature of technological progress. This study proposes a unified theoretical framework for the impact of directed technological investment on energy productivity and energy structure by incorporating energy factors into the theory of technological progress bias. The aim is to elucidate the impact of technological progress on energy productivity and energy structure, and to unravel the underlying effect mechanisms. A fixed effects model that includes moderating effects is also developed to support the assessment. The study found that the petrochemical industry's technological investment in China was initially biased towards enhancing labour-augmenting technological progress. The mechanism analysis revealed that technological investment, under the moderating effects of price and environmental governance, preferred a capital-energy bias, leading to insignificant improvements in energy productivity but a substantial increase in labour productivity. In addition, the technological investment, influenced by the moderating effect of environmental governance, led to some improvement in the energy structure during the sample period. This study integrates the mechanisms of directed technological investment on energy productivity and energy structure into a unified analytical framework, systematically investigating the reasons, effect mechanisms, and consequences of bias, while providing empirical evidence that supports low-carbon development in the petrochemical industry.

Keywords

Directed technological investment; Factor-augmenting technological progress; Factor-biased technological progress; Energy productivity; Energy structure

Authors

SUN, XJ.; FAN, Y.; LEI, YL.; PAN, T.; VARBANOV, P.

Released

1. 12. 2024

Publisher

ELSEVIER

Location

AMSTERDAM

ISBN

0140-9883

Periodical

ENERGY ECONOMICS

Number

140

State

Kingdom of the Netherlands

Pages from

107943

Pages to

107943

Pages count

17

URL

https://www.sciencedirect.com/science/article/pii/S0140988324006510

BibTex

@article{BUT197515,
  author="SUN, XJ. and FAN, Y. and LEI, YL. and PAN, T. and VARBANOV, P.",
  title="Mechanism of directed technological investment on energy productivity and energy structure: A unified theoretical framework",
  journal="ENERGY ECONOMICS",
  year="2024",
  number="140",
  pages="17",
  doi="10.1016/j.eneco.2024.107943",
  issn="0140-9883",
  url="https://www.sciencedirect.com/science/article/pii/S0140988324006510"
}