Publication: Assessing the Impact of Renewable Energy Policies on Decarbonization in Developing Countries
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125 downloads
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Date
2023-02
ISSN
Published
2023-02
Author(s)
Galeazzi, Clara
Steinbuks, Jevgenijs
Anadón, Laura Diaz
Abstract
This study offers the first
consistent attempt to identify how energy sector
decarbonization policies have affected the energy mix over
the past four decades across more than 100 developing
countries. It applies systematic regression analysis to five
energy sector decarbonization outcomes and more than 75
policy instruments aggregated into seven policy packages.
Combining instrumental variables with country interactions
and country and time fixed effects in regional panels helps
address potential endogeneity issues. Only a handful of
energy policy packages significantly affect the
decarbonization of developing countries' energy mix,
and the packages more often achieve a negligible or opposite
result than intended three years after implementation.
Policies that address counterparty risk have the highest
immediate effects. Effects of renewable policies on various
decarbonization outcomes improve slightly five and seven
years after their implementation.
Link to Data Set
Citation
“Galeazzi, Clara; Steinbuks, Jevgenijs; Anadón, Laura Diaz. 2023. Assessing the Impact of Renewable Energy Policies on Decarbonization in Developing Countries. Policy Research Working Papes;10329. © World Bank, Washington, DC. http://hdl.handle.net/10986/39489 License: CC BY 3.0 IGO.”