Digest Finance
 

Energy Intensity of Development and the Preconditions for Its Abatement: An Econometric Analysis, with Emphasis on the CIS Countries

Vol. 22, Iss. 4, DECEMBER 2017

Received: 13 July 2017

Received in revised form: 20 September 2017

Accepted: 10 October 2017

Available online: 19 December 2017

Subject Heading: RISK, ANALYSIS AND EVALUATION

JEL Classification: C01, C21, C24, O43, Q43

Pages: 456–467

https://doi.org/10.24891/df.22.4.456

Chepel' S.V. Institute of Forecasting and Macroeconomic Research, Tashkent, Republic of Uzbekistan swchep@mail.ru

Importance The article focuses on the issues of development of the macroeconomic and institutional environment necessary to reduce energy intensity in the CIS countries.
Objectives The paper aims to develop a methodological approach based on econometric analysis of a sample of global statistical reports to justify the energy intensity abatement.
Methods I use methods of comparative analysis, linear and non-linear regressions, equations with threshold values, and the methods of index numbers.
Results The article proves that existing statistics can be used to justify factors influencing the energy intensity of the economy in the context of both demand and supply. As the comparative analysis shows, the regulatory quality is a key factor in reducing energy intensity in the CIS countries.
Conclusions and Relevance The CIS countries have the potential for improving the energy efficiency. This requires building the potential of State institutions and focusing on the development of competitive markets for energy products, energy auditing, adoption of power-saving standards, limitation of shadow economy, and more intensive counteraction to corruption.

Keywords: energy efficiency, energy-saving technology, econometric analysis, fuel tariffs, quality, state institutions

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