The Impact of the Government Policy on the Energy Efficient Gap: The Evidence from Ukraine

This paper aims to check the impact of investment and institutional determinants on the energy efficiency gap. The findings of the bibliometric analysis confirmed the growth of research interests in identifying the core determinants of the energy efficiency gap. The central hypothesises are: the inc...

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Bibliographic Details
Published in:Energies (Basel) 2021-01, Vol.14 (2), p.373
Main Authors: Lyulyov, Oleksii, Pimonenko, Tetyana, Kwilinski, Aleksy, Dzwigol, Henryk, Dzwigol-Barosz, Mariola, Pavlyk, Vladyslav, Barosz, Piotr
Format: Article
Language:English
Subjects:
Bibliometrics
Carbon
Clean energy
Corruption
Determinants
Economic conditions
Economic growth
Economic models
energy
Energy consumption
Energy efficiency
Energy industry
Energy management
Energy policy
gap
Government policy
green economy
Hypotheses
Investment
Investments
Perception
Political factors
Politics
Public opinion
Public policy
Regulation
Software
Stability
sustainable development
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Summary:This paper aims to check the impact of investment and institutional determinants on the energy efficiency gap. The findings of the bibliometric analysis confirmed the growth of research interests in identifying the core determinants of the energy efficiency gap. The central hypothesises are: the increasing quality of the institutions leads to an increase of green investments in the energy sector and the dual relationships between investment and institutional determinants lead to additional synergy effects, which allow boosting the decline of energy efficiency gaps of the national economy. For the analysis, the times series were collected from the World Data Bank, Eurostat, Bloomberg, for Ukraine for the period of 2002–2019. The following methods were used: the unit root test—for checking the stationarity of data—and the Johansen test and VEC-modelling—for the cointegration analysis. The findings prove that to reduce the energy efficiency gaps in Ukraine by 1% next year, it is necessary to increase green energy investments by 1.5% this year, and the political stability and public perception of corruption by 3% and 1%. The increase of the public perception of corruption by 1.47 points and of political stability by 2.38 points leads to maximising the recovery speed of the Ukrainian energy sector. Thus, while developing the policy to decrease the energy efficiency gaps, the Ukrainian government should consider the level of public perception of corruption and political stability.
ISSN:1996-1073
1996-1073
DOI:10.3390/en14020373