Publication: Fossil Fuel Producing Economies Have Greater Potential for Industrial Interfuel Substitution
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Date
2015-01
ISSN
0140-9883
Published
2015-01
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Abstract
This study analyzes industrial interfuel substitution in an international context using a large unbalanced panel dataset of 63 countries. We find that compared to other countries fossil fuel producing economies have higher short-term interfuel substitution elasticities. This difference increases further in the long run as fossil fuel producing countries have a considerably longer adjustment of their fuel-using capital stock. These results imply lower economic cost for policies aimed at climate abatement and more efficient utilization of energy resources in energy-intensive economies.
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