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On the economic determinants of biofuel consumption: an empirical analysis for OECD countries

This paper explores the determinants of biofuel energy consumption for 12 OECD countries over the period 2002-2012. While a growing literature has examined the determinants of aggregate renewable energy consumption, studies on the drivers of disaggregated renewable energy consumption are scarce. Thus, this study fills the gap by focusing on biofuel energy consumption for OECD countries. Results reveals that biofuel energy consumption depends on real income, CO2 emissions, oil prices and biofuel prices, however, impact of income and CO2 emissions is more pronounced than that of biofuel and oil prices. Moreover, results depict that carbon emissions affect is negative on biofuel consumption and granger causes without feedback, suggesting that biofuels are not able to mitigate carbon emissions. Based on results, it is suggested to stimulate the development and deployment of advanced biofuels.
- Université dEvry Val dEssonne France
- University of Évry Val d'Essonne France
- University of Paris-Saclay France
- Dongbei University of Finance and Economics China (People's Republic of)
- Université Paris-Saclay France
Biofuel prices, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, CO2 emissions, Biofuel consumption, Oil prices, Income, Panel co-integration, [SHS.ECO] Humanities and Social Sciences/Economics and Finance
Biofuel prices, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, CO2 emissions, Biofuel consumption, Oil prices, Income, Panel co-integration, [SHS.ECO] Humanities and Social Sciences/Economics and Finance
citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).10 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Top 10% influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Average impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Average
