Determinants of Energy Efficiency: Evidence from the Brics Group (1990-2018)
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Abstract
This study aims to estimate the level of energy efficiency and its socioeconomic determinants in Brazil, Russia, India, China and South Africa during the period 1990-2018. The Input Distance Function is estimated to obtain energy efficiency levels under the approach of Stochastic Frontier Analysis with data panel, through different econometric specifications. Results suggest that the model proposed by Kumbhakar et al. (2012) is the most appropriate because it allows the estimation of transitory and persistent efficiency, as well as unobserved heterogeneity and the term of the idiosyncratic error. An increase in the aggregate price of energy and industrial value added was found to adversely affect the variability of the transitory inefficiency. In addition, China and India presented the greatest potential savings in energy consumption and associated emissions CO2 in the long term, while in the short term, China and Russia have the greatest potential savings; China is on average, among the lowest efficient country in the sample.
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