Energy trade efficiency and its determinants: A Malmquist index approach

Sheng, Y; Wu, Y; Shi, X; Zhang, D

Energy trade efficiency and its determinants: A Malmquist index approach

Sheng, Y Wu, Y Shi, X

Zhang, D

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Publication Type:: Journal Article
Citation:: Energy Economics, 2015, 50 pp. 306 - 314
Issue Date:: 2015-07-01

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Field	Value	Language
dc.contributor.author	Sheng, Y	en_US
dc.contributor.author	Wu, Y	en_US
dc.contributor.author	Shi, X https://orcid.org/0000-0001-9653-7395	en_US
dc.contributor.author	Zhang, D	en_US
dc.date.issued	2015-07-01	en_US
dc.identifier.citation	Energy Economics, 2015, 50 pp. 306 - 314	en_US
dc.identifier.issn	0140-9883	en_US
dc.identifier.uri	http://hdl.handle.net/10453/119278
dc.description.abstract	© 2015 Elsevier B.V. This paper adopts the Malmquist index approach to investigate multi-product energy trade efficiency and its determinants from an empirical perspective. Using trade statistics of coal, oil and gas of 40 countries over the period of 1995 to 2008, we found that the efficiency of bilateral energy trade ranged between 0.26 and 0.35 when imperfect substitution between different energy products is taken into account. This measure is significantly lower than those obtained from traditional gravity models. It suggests that the ability of cross-product substitution affects trade efficiency improvement which results from regional market integration and related trade policy. The results provide useful insights on predicting the pattern of future energy trade and hence have important implications for relevant countries to prioritize product-specific trade policies.	en_US
dc.relation.ispartof	Energy Economics	en_US
dc.relation.isbasedon	10.1016/j.eneco.2015.05.019	en_US
dc.rights	info:eu-repo/semantics/closedAccess
dc.subject.classification	Energy	en_US
dc.title	Energy trade efficiency and its determinants: A Malmquist index approach	en_US
dc.type	Journal Article
utslib.citation.volume	50	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	0906 Electrical and Electronic Engineering	en_US
utslib.for	0913 Mechanical Engineering	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (International)
pubs.organisational-group	/University of Technology Sydney/DVC (International)/Australia-China Relations Institute
utslib.copyright.status	closed_access	*
pubs.publication-status	Published	en_US
pubs.volume	50	en_US

Abstract:

© 2015 Elsevier B.V. This paper adopts the Malmquist index approach to investigate multi-product energy trade efficiency and its determinants from an empirical perspective. Using trade statistics of coal, oil and gas of 40 countries over the period of 1995 to 2008, we found that the efficiency of bilateral energy trade ranged between 0.26 and 0.35 when imperfect substitution between different energy products is taken into account. This measure is significantly lower than those obtained from traditional gravity models. It suggests that the ability of cross-product substitution affects trade efficiency improvement which results from regional market integration and related trade policy. The results provide useful insights on predicting the pattern of future energy trade and hence have important implications for relevant countries to prioritize product-specific trade policies.

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http://hdl.handle.net/10453/119278