• Energy Research
• 8. Economic growth close
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• Université Libre de Bruxelles close

Abstract This paper investigates the impact of urbanization on energy consumption by applying the Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) in case of Malaysia. The study covers the time period of 1970Q1–2011Q4. The unit root test and the ARDL bounds testing approach have been applied to examine integrating properties and long run relationship in the presence of structural breaks. Our results validated the existence of cointegration and exposed that urbanization is a major contributor in energy consumption. Affluence raises energy demand. Capital stock boosts energy consumption. Trade openness leads to affluence and hence increases energy consumption. The causality analysis finds that urbanization Granger causes energy consumption. The feedback effect is found between energy consumption and affluence and, energy consumption and capital. The bidirectional causality exists between trade openness and energy consumption.

This paper is a first attempt at documenting efficiency levels in Africa's electricity firms, their evolution and the sources of this evolution. The analysis is based on a sample of 12 operators providing services in the 12 country members of the Southern Africa Power Pool. We focus on the changes in total factor productivity (TFP) of the largest operators in each country between 1998 and 2005. We then rely on a data envelopment analysis (DEA) decomposition to identify the sources of the changes in TFP. The results suggest fairly comparable levels of efficiency in the region and performance levels and evolution quite independent of the degree of vertical integration, the presence of a private actor or the main sources of energy supply. The analysis suggest that although the companies have not made significant improvements during the period of analysis in using their capital and human assets, they have done much better in adopting better technologies and better commercial practices. No clear correlation could be associated with the adoption of reforms during the last decade and data limitations impede a more refined assessment of the impact of reforms on efficiency at this stage. 1979 1969 1,755 Q1 SCIE SSCI

Trade liberalisation has affected the flow of trade (goods and services) between developed and developing countries. The Heckscher-Ohlin trade theory reveals that under free trade, developing countries would specialise in the production of those goods that are produced by relatively abundant factors of production such as labour and natural resources. Developed countries would specialise in the production of those goods that are produced by human capital and manufactured in capital-intensive activities. Trade openness entails movement of goods produced in one country for either consumption or further processing to other country. Production of those goods is not possible without the effective use of energy. Trade openness affects energy demand via scale effect, technique effect and composite effect. Other things being same, trade openness increases economic activities, thus stimulates domestic production and hence economic growth. A surge in domestic production increases energy demand , which is commonly referred as scale effect. Such scale effect is caused by trade openness. Economic condition of the country and extent of relationship between economic growth and trade openness determine the impact of trade openness on energy consumption [Shahbaz, et al. (2013); Cole (2006)]. Trade openness enables developing economies to import advanced technologies from developed economies. The adoption of advanced technology lowers energy intensity. The use of advanced technologies result in less energy consumption and more output that is usually referred to as technique effect [Arrow (1962)]. Composite effect reveals the shift of production structure from agriculture to industry with the use of energy intensive production techniques. In initial stages of economic development economy is based largely on agriculture sector, thus the use of energy is relatively less. As economy starts shifting from agriculture to industry, the energy consumption increases.

Summary Using an original database of rating agencies, this paper gives empirical evidence on the impact of subsidy intensity on the efficiency of Microfinance Institutions (MFIs). We find that subsidies have had a positive impact on efficiency, in the sense that MFIs that received subsidies are more efficient than those that do not. However, we find also that subsidization beyond a certain threshold renders the marginal effect on efficiency negative. In our sample, 26% of MFIs receive levels of subsidization higher than that threshold, which implies that a marginal cut on subsidy intensity would increase their efficiency.

This paper investigates the role of governance dimensions in socio-economic transitions in line with degrowth, i.e., an equitable downscaling of the economy. Our focus is on experiences from the 2008 economic crisis in Latvia and Iceland. Although these cases are not in themselves examples of degrowth, we see them as important sources of empirical learning from major socio-economical transitions; furthermore, we see crises as possible starting points for future degrowth transitions. This paper applies a governance framework to explore the vast differences in management strategies and crisis outcomes in Latvia and Iceland. In Iceland, public resistance led to a shift in policy measures such that economic inequality and the negative social consequences of the crisis decreased. In Latvia, public resistance existed but had no strong influence. The outcome in Latvia included none of the elements of equitable downscaling found in the case of Iceland. These two cases show how differences in formal institutional arrangements, political culture and societal trust affect different governance dimensions during a time of crisis. The analysis illustrates the importance of institutional and governance dimensions in major socio-economical transitions, and demonstrates how they influence the kind of transition that can be realized.

Abstract This paper investigates the relationship between foreign direct investment, clean energy, trade openness, carbon emissions and economic growth in case of UAE covering the period of 1975Q1–2011Q4. We have tested the unit properties of variables in the presence of structural breaks. The ARDL bounds testing approach is applied to examine the cointegration by accommodating structural breaks stemming in the series. The VECM Granger causality approach is also applied to investigate the causal relationship between the variables. Our empirical findings confirm the existence of cointegration between the series. We find that foreign direct investment, trade openness and carbon emissions decline energy demand. Economic growth and clean energy have positive impact on energy consumption.

AbstractMicrofinance institutions (MFIs) generally aim at improving the access of the poor to financial services while at the same time being financially sustainable. But what do we know about how MFIs reach and combine these two goals? We carry out a systematic review of close to 170 papers discussing the determinants of the financial and social performance of MFIs. The review shows that the most important determinants addressed in the literature are MFI characteristics (size, age and type of organization), their funding sources, the quality of organizational governance and the MFIs’ external context such as macro‐economic, institutional and political conditions. The evidence on these issues is rather mixed. Moreover, the direction of the relationship between these drivers and MFI performance depends on the context, particularly the country‐specific context. Finally, there is a lack of consensus in the literature on the measurement of financial and social performance. Due to the complexity of the concept, we argue that social performance should only be assessed by using a multidimensional perspective. This can be done either by applying recent and holistic social performance measures such as the SPI4, or at least by using a combination of proxies, such as outreach, gender and rural measures.