KETEP 세계에너지시장정보

I. INTRODUCTION 1

II. RELATED LITERATURE 3

III. DATA AND METHODOLOGY 5
 A. Data 5
 B. Econometric Methodology 6
 
IV. EMPIRICAL RESULTS 7
 A. Baseline Results 7
 B. Robustness 7
  1. Adding the Quadratic Term of Gross Domestic Product Growth 7
  2. Placebo Test  9

V. EXTENSIONS 9
 A. Impulse Responses Conditioning on Initial Carbon Emission Level 9
 B. Impulse Responses Conditioning on Energy Intensity 11
 C. Impulse Responses Conditioning on Income Levels 12
 D. Impulse Responses Conditioning on Climate Risk Vulnerability 13
 E. Impulse Responses Conditioning on Implementing Carbon Pricing Instruments 14
 F. Impulse Responses Conditioning on Political Stability 14
 G. Impulse Responses Conditioning on Financial Development 16
 H. Impulse Responses Conditioning on Trade Openness 17
 I. Impulse Responses Conditioning on Share of Renewable Energy Consumption 18
 J. Impulse Responses Conditioning on Share of Research and Development Expenditure 19

VI. CONCLUSIONS AND POLICY IMPLICATIONS  20

REFERENCES 24