Can Capital-Energy Substitution Foster Economic Growth?

References

1. ↵
   1. Acemoglu Daron,
   2. Aghion Philippe,
   3. Bursztyn Leonardo,
   4. Hemous David

   . 2012.“The Environment and Directed Technical Change.” American Economic Review 102 (1): 131–66.

   OpenUrlCrossRefPubMed
2. ↵
   1. Acemoglu Daron,
   2. Guerrieri Veronica

   . 2008.“Capital Deepening and Non-balanced Economic Growth.” Journal of Political Economy 116 (3): 467–98.

   OpenUrlCrossRef
3. ↵
   1. Aghion Philippe,
   2. Howitt Peter W

   . 1998. “Endogenous Growth and Sustainable Development.” In Endogenous Growth Theory, 151–71. Cambridge, MA: MIT Press.
4. ↵
   1. Antimiani Alessandro,
   2. Costanini Valeria,
   3. Martini Chiara,
   4. Salvatici Luca,
   5. Tommasino Maria Cristina

   . 2013. “Assessing Alternative Solutions to Carbon Leakage.” Energy Economics 36: 299–311.

   OpenUrl
5. ↵
   1. Apostolakis Bobby E

   . 1990. “Energy-Capital Substitutability/Complementarity: The Dichotomy.” Energy Economics 12: 48–58.

   OpenUrl
6. ↵
   1. Arnberg Søren,
   2. Bjørner Thomas Bue

   . 2007. “Substitution between Energy, Capital and Labour within Industrial Companies: A Micro Panel Data Analysis.” Resource and Energy Economics 29 (2): 122–36.

   OpenUrl
7. ↵
   1. Baumol William J

   . 1967. “Macroeconomics of Unbalanced Growth: The Anatomy of Urban Crisis.” American Economic Review 57 (3): 415–26.

   OpenUrlWeb of Science
8. ↵
   1. Berndt Ernst R.,
   2. Wood David O

   . 1975. “Technology, Prices and the Derived Demand for Energy.” Review of Economics and Statistics 57 (3): 259–68.

   OpenUrlCrossRefWeb of Science
9. ↵
   1. Berndt Ernst R.,
   2. Wood David O

   . 1979. “Engineering and Econometric Interpretations of Energy-Capital Complementarity.” American Economic Review 69 (3): 342–54.

   OpenUrlWeb of Science
10. ↵
    1. Bretschger Lucas,
    2. Smulders Sjak

    . 2012. “Sustainability and Substitution of Exhaustible Natural Resources: How Structural Change Affects Long-term R&D Investments.” Journal of Economic Dynamics and Control 36 (4): 536–49.

    OpenUrl
11. ↵
    1. Di Maria Corrado,
    2. Valente Simone

    . 2008. “Hicks Meets Hotelling: The Direction of Technical Change in Capital-Resource Economies.” Environmental and Development Economics 13 (6): 691–717.

    OpenUrl
12. ↵
    1. Easterly William,
    2. Levine Ross

    . 2001. “What Have We Learned from a Decade of Empirical Research on Growth? It’s Not Factor Accumulation: Stylized Facts and Growth Models.” World Bank Economic Review 15 (2): 177–219.

    OpenUrlCrossRefWeb of Science
13. ↵
    1. Feenstra Robert C.,
    2. Inklaar Robert,
    3. Timmer Marcel P

    . 2013. The Next Generation of the Penn World Table, 2013. Groningen, Netherlands: Groningen University. Available at www.ggdc.net/pwt (accessed July 24, 2014).
14. ↵
    1. Field Barry C.,
    2. Grebenstein Charles

    . 1980. “Capital-Energy Substitution in US Manufacturing.” Review of Economics and Statistics 62 (2): 207–12.

    OpenUrlCrossRefWeb of Science
15. ↵
    1. Griffin James M.,
    2. Gregory Paul R

    . 1976. “An Intercountry Translog Model of Energy Substitution Responses.” American Economic Review 66 (5): 845–57.

    OpenUrlWeb of Science
16. ↵
    1. Hall Robert,
    2. Jones Charles

    . 1999. “Why Do Some Countries Produce So Much More Output per Worker Than Others?” Quarterly Journal of Economics 114 (1): 83–116.

    OpenUrlCrossRefWeb of Science
17. ↵
    1. Kaldor Nicholas

    . 1961. “Capital Accumulation and Economic Growth.” In The Theory of Capital, ed. Lutz Friedrich, Hague Douglas, 177–222. New York: St. Martins Press.
18. ↵
    1. Karabarbounis Loukas,
    2. Neiman Brent

    . 2014. “The Global Decline of the Labor Share.” Quarterly Journal of Economics 129 (1): 61–103.

    OpenUrlCrossRefWeb of Science
19. ↵
    1. Karagiannis Giannis,
    2. Palivos Theodore,
    3. Papageorgiou Chris

    2005. “Variable Elasticity of Substitution and Economic Growth: Theory and Evidence.” In New Trends in Macroeconomics, ed. Diebolt Claude, Kyrtsou Catherine, 21–37. Berlin: Springer-Verlag.
20. ↵
    1. Kim Jihyo,
    2. Heo Eunnyeong

    . 2013. “Asymmetric Substitutability between Energy and Capital: Evidence from the Manufacturing Sectors in 10 OECD Countries.” Energy Economics 40: 81–89.

    OpenUrl
21. ↵
    1. Klump Rainer,
    2. de La Grandville Olivier

    . 2000. “Economic Growth and the Elasticity of Substitution: Two Theorems and Some Suggestions.” American Economic Review 90 (1): 282–91.

    OpenUrlWeb of Science
22. ↵
    1. Koetse Mark J.,
    2. De Groot Henri,
    3. Florax Raymond

    . 2008. “Capital-Energy Substitution and Shifts in Factor Demand: A Meta Analysis.” Energy Economics 30 (5): 2236–51.

    OpenUrl
23. ↵
    1. Ma Hengyun,
    2. Oxley Les,
    3. Gibson John,
    4. Kim Bonggeun

    . 2008. “China’s Energy Economy: Technical Change, Factor Demand and Interfactor/Interfuel Substitution.” Energy Economics 30 (5): 2167–83.

    OpenUrlCrossRefWeb of Science
24. ↵
    1. Nijkamp Peter,
    2. Wang Shunli,
    3. Kremers Hans

    . 2005. “Modeling the Impacts of International Climate Change Policies in a CGE Context: The Use of the GTAP-E Model.” Economic Modeling 22 (6): 955–74.

    OpenUrl
25. ↵
    1. Pittel Karen,
    2. Bretschger Lucas

    . 2010. “The Implications of Heterogeneous Resource Intensities on Technical Change and Growth.” Canadian Journal of Economics 43 (4): 1173–97.

    OpenUrl
26. ↵
    1. Revankar Nagesh

    . 1971. “A Class of Elasticity of Substitution Production Functions.” Econometrica 39 (1): 61–71.

    OpenUrlCrossRef
27. ↵
    1. Sato Ryuzo,
    2. Hoffman Ronald F

    . 1968. “Production Functions with Variable Elasticity of Factor Substitution: Some Analysis and Testing.” Review of Economics and Statistics 50 (4): 453–60.

    OpenUrlCrossRefWeb of Science
28. ↵
    1. Smyth Russell,
    2. Narayan Paresh Kumar,
    3. Shi Hongliang

    . 2011. “Substitution between Energy and Classical Factor Inputs in the Chinese Steel Sector.” Applied Energy 88 (1): 361–67.

    OpenUrl
29. ↵
    1. Solow Robert

    . 1956. “A Contribution to the Theory of Economic Growth.” Quarterly Journal of Economics 70 (1): 65–94.

    OpenUrlCrossRefWeb of Science
30. ↵
    1. Solow Robert

    . 1974. “Intergenerational Equity and Exhaustible Resources.” Review of Economic Studies 41 (5): 29–46.

    OpenUrlCrossRef
31. ↵
    1. Stern David I

    . 2010. “The Role of Energy in Economic Growth.” Working paper. Centre for Climate Economics and Policy, Crawford School of Public Policy, Australian National University, Acton.
32. ↵
    1. Thompson Henry

    . 2006. “The Applied Theory of Energy Substitution in Production.” Energy Economics 28 (4): 410–25.

    OpenUrl
33. ↵
    1. United Nations Environment Programme

    . 2013. Environmental Data Explorer. Available at http://geodata.grid.unep.ch (accessed July 24, 2014).
34. ↵
    1. Van der Ploeg Frederick

    . 2011. “Natural Resources: Curse or Blessing?” Journal of Economic Literature 49 (2): 366–420.

    OpenUrlCrossRef
35. ↵
    1. Van der Ploeg Frederick,
    2. Poelhekke Steven

    . 2009. “Volatility and the Natural Resource Curse.” Oxford Economic Papers 61 (4): 727–60.

    OpenUrlCrossRef
36. ↵
    1. Zha Donglan,
    2. Ding Ning

    . 2014. “Elasticities of Substitution between Energy and Non-energy Inputs in China Power Sector.” Economic Modelling 38: 564–71.

    OpenUrl