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We develop a novel approach for quantitatively analysing future storylines of change by combining econometric analysis and Monte Carlo simulation for four different storylines of change in the EU's energy innovation system. We explore impacts on three key innovation outcomes: patenting (innovation), co-invention (collaboration), and technology cost reduction (diffusion). We find that diverse mixes of policy instruments stimulate collaborative innovation activity. We find that both RD&D expenditure and trade imports support knowledge generation and exchange, and that these relationships are largely robust to future uncertainty. Conversely, we find that policy durability and stability are only weakly linked to innovation outcomes, suggesting that adaptive policy responding to rapidly changing innovation environments should play an important part of the EU's energy future. Keywords: Monte Carlo simulation, Econometric analysis, Scenario analysis, Energy technology innovation system

Planting bioenergy crops on marginal land is critical for avoiding competition with food crop production. While many studies have estimated marginal land availability using various methods, only a few studies have considered the role of socioeconomic factors in affecting perceptions about the availability of marginal land. This study analyzes land‐use survey data to examine the determinants of farmers' perceptions of marginal land availability on their farms. We find that farmers' perceptions are affected by a combination of unfavorable biophysical (e.g., soil water capacity, temperature variability, and slope) and socioeconomic factors, of which farm size appears to be significant. Interestingly, we identify different determinants of perceptions among farmers that claim to have marginal land and those that do not; the former are determined mainly by unfavorable biophysical factors, while the latter are mainly explained by small farm size. We further apply a prediction model that is trained by a machine learning algorithm to Midwestern states, and derive maps of marginal land likelihood and associated dominant influencing factors. The results suggest that marginal land is primarily under pastureland and grassland cover and in the Dakotas and Nebraska; there is also some marginal land under crop production in the Corn Belt. Our findings contribute to improving understanding of the complex determinants of heterogeneous perceptions of marginal land and can inform the design of more targeted policies for bioenergy crop adoption.

Climate change and energy security promote using renewable sources of energy such as biofuels. High woody biomass production achieved from short-rotation intensive plantations is a strategy that is increasing in many parts of the world. However, broad expansion of bioenergy feedstock production may have significant environmental consequences. This study investigates the watershed-scale hydrological impacts of Eucalyptus (E. grandis) plantations for energy production in a humid subtropical watershed in Entre Rios province, Argentina. A Soil and Water Assessment Tool (SWAT) model was calibrated and validated for streamflow, leaf area index (LAI), and biomass production cycles. The model was used to simulate various Eucalyptus plantation scenarios that followed physically based rules for land use conversion (in various extents and locations in the watershed) to study hydrological effects, biomass production, and the green water footprint of energy production. SWAT simulations indicated that the most limiting factor for plant growth was shallow soils causing sea sonal water stress. This resulted in a wide range of biomass productivity throughout the watershed. An optimization algorithm was developed to find the best location for Eucalyptus development regarding highest productivity with least water impact. E. grandis plantations had higher evapotranspiration rates compared to existing terres trial land cover classes; therefore, intensive land use conversion to E. grandis caused a decline in streamflow, with January through March being the most affected months. October was the least-affected month hydrologically, since high rainfall rates over came the canopy interception and higher ET rates of E. grandis in this month. Results indicate that, on average, producing 1 kg of biomass in this region uses 0.8 m3 of water, and the green water footprint of producing 1 m3 fuel is approximately 2150 m3 water, or 57 m3 water per GJ of energy, which is lower than reported values for wood based ethanol, sugar cane ethanol, and soybean biodiesel. Fil: Heidari, Azad. Michigan Technological University. Department of Civil and Environmental Engineering; Estados Unidos Fil: Watkins Jr, David. Michigan Technological University. Department of Civil and Environmental Engineering; Estados Unidos Fil: Mayer, Alex. Michigan Technological University. Department of Civil and Environmental Engineering; Estados Unidos Fil: Propato, Tamara Sofía. Instituto Nacional de Tecnología Agropecuaria (INTA). Instituto de Clima y Agua; Argentina. Universidad de Buenos Aires. Facultad de Agronomía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina Fil: Verón, Santiago. Instituto Nacional de Tecnología Agropecuaria (INTA). Instituto de Clima y Agua; Argentina. Universidad de Buenos Aires. Facultad de Agronomía; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas; Argentina Fil: de Abelleyra, Diego. Instituto Nacional de Tecnología Agropecuaria (INTA). Instituto de Clima y Agua; Argentina

Bioenergy is widely considered a sustainable alternative to fossil fuels. However, large‐scale applications of biomass‐based energy products are limited due to challenges related to feedstock variability, conversion economics, and supply chain reliability. Artificial intelligence (AI), an emerging concept, has been applied to bioenergy systems in recent decades to address those challenges. This paper reviewed 164 articles published between 2005 and 2019 that applied different AI techniques to bioenergy systems. This review focuses on identifying the unique capabilities of various AI techniques in addressing bioenergy‐related research challenges and improving the performance of bioenergy systems. Specifically, we characterized AI studies by their input variables, output variables, AI techniques, dataset size, and performance. We examined AI applications throughout the life cycle of bioenergy systems. We identified four areas in which AI has been mostly applied, including (1) the prediction of biomass properties, (2) the prediction of process performance of biomass conversion, including different conversion pathways and technologies, (3) the prediction of biofuel properties and the performance of bioenergy end‐use systems, and (4) supply chain modeling and optimization. Based on the review, AI is particularly useful in generating data that are hard to be measured directly, improving traditional models of biomass conversion and biofuel end‐uses, and overcoming the challenges of traditional computing techniques for bioenergy supply chain design and optimization. For future research, efforts are needed to develop standardized and practical procedures for selecting AI techniques and determining training data samples, to enhance data collection, documentation, and sharing across bioenergy‐related areas, and to explore the potential of AI in supporting the sustainable development of bioenergy systems from holistic perspectives.

Purple phototrophic bacteria (PPB) showed an enormous potential for polyhydroxyalkanoates (PHA) production using the hydrolysate from lignocellulosic waste as feedstock. Thermal hydrolysis pretreatment was carried out at three different temperatures (120, 150 and 180 °C) aiming to improve the biodegradability of the lignocellulosic waste. After this pretreatment, two streams are collected: a solid and a liquid fraction. The anaerobic digestion process of the pretreated solid fraction at 180 °C increased its biodegradability extent by 31% compared to the untreated biomass, yielding 210 ± 10 LCH4 kgVS-1 even when the liquid fraction was removed. On the photo-heterotrophic of the liquid fraction, PPB was able to remove up to 55% of COD during batch operation, showing peaks of PHA production yield up to 21 wt. %. The treatment of the liquid fraction obtained at high temperatures (T˃120⁰C) reduce biomass growth and COD consumption efficiency, and thus potential productivity, with no effect over the specific activity This article is protected by copyright. All rights reservedand the biomass yield, indicating growth limitation by lack of nutrients (N and P). A preliminary economical assessment indicates suitable economic viability based on an energetic autarchy process. This study pioneered a PPB-based biorefinery for PHA production from lignocellulosic residues and aligned within the bioeconomy strategy of the European Union.

Sorghum is currently being introduced in the temperate regions of Europe. It is characterized by good digestibility and high biomass yields, which make it a useful crop for anaerobic digestion. In this study, six commercial sorghum varieties comprising four different cultivars of Sorghum bicolor L. Moench and two interspecific sorghum hybrids (Sorghum sudanense L. × S. bicolor L. Moench) were harvested on two different dates during the years 2016 and 2017 at two diverse soil‐climate sites in Germany. The fresh harvested material and silages were analyzed to examine the ensilability of the different varieties with contrasting maturity characteristics. Subsequently, methane production experiments were performed to determine the specific methane yield (SMY) of the samples. The sorghum fresh matter (FM) varied among the sorghum types, including the parameters total solids (TS; 22.69%–46.93%FM), water‐soluble carbohydrates (2.68%–11.38%TS), and nitrates (0%–0.35%TS). The excellent ensiling ability of all the sorghum types analyzed was confirmed by evaluating the fermentation profile (pH range of 3.7–4.6; dominant presence of lactic acid [LA]; acetic acid [AA] in the range of 0.70%–2.38%TS; insignificant amount of butyric acid). The SMY ranged between 231.25 and 321.31 Ln kg−1 VS and tended to decrease with the increasing harvest time and maturity. LA and AA were positively correlated with the SMY, while the neutral detergent fiber content was negatively correlated with it. The SMY—a key parameter reflecting the crop biomass quality for biogas production—was slightly higher for S. bicolor than for the sorghum hybrids. However, the results of this study confirmed that if the final purpose is biomethanation, the ensilability of different sorghum types imposes no restriction. Furthermore, different sorghum types offer a wide harvest window, which can be useful for cropping schemes, ensiling, and methane production.

This study investigated the impact of energy consumption on poverty in BRICS using panel data analysis methods (fixed effects, pooled OLS, random effects, FMOLS) with annual data ranging from 1995 to 2018. Whether economic growth is a channel through which energy consumption influences poverty in BRICS was also a subject of investigation in this study? Although there is acknowledgment that energy consumption reduces poverty through economic growth by authors such as Okwanya et al (2015), Hussein and Filho (2012) and Okwanya and Abah (2018), there is no dedicated empirical study on the subject matter which exclusively focused on BRICS. Nothing is known about the energy consumption-growth-poverty nexus in BRICS, according to the author’s best knowledge. Also, majority of the energy consumption-poverty nexus empirical research wrongly assumed that the two variables (energy consumption and poverty) are linearly linked. Using both mean mortality rate and mean life expectancy as measures of poverty, the study noted that energy consumption reduced poverty in a significant way across all the four panel methods employed in BRICS. Economic growth was also generally found to have reduced poverty in BRICS countries. The complementarity between the two variables (energy consumption and poverty) had a significant poverty reduction effect in BRICS, in support of the existing literature. BRICS nations are therefore urged to develop and implement policies that ensure more energy consumption and increased economic growth activities if they intend to reduce poverty.Keywords: Energy Consumption; Growth; Poverty; BRICS; Panel dataJEL Classifications: I32, Q43, O47DOI: https://doi.org/10.32479/ijeep.11075

Recently, several authors and reports inform about peer-to-peer transactions of goods and services. Usually, the electricity markets work trading energy at large scale in wholesale electricity markets. Given the integration of distributed energy resources such as PV generators, storage at small scale, demand response and electric vehicles then there are new options to trade energy at small scale by focusing in the producer-consumer relationship. This derives in alternatives based on peer-to-peer (P2P) electricity markets to trade energy employing tools as the blockchain and deployment of distributed energy resources (DERs). This paper presents a framework to trade energy at small scale with a flexible hybrid model of P2P based on transactions between communities and peers, for each period of time, each peer can change its role, the prosumer and producer peers can offer their generated energy. The consumer peers can adjust their consumption behavior based on price and quantity. Thus, the role of the community manager comes into play to associations between peers as an intermediary of the community and the grid. Therefore, a model of transactions with P2P offers was developed for different structures and sales prices. Finally, the framework to trade energy in a hybrid P2P model is evaluated in a demand curve considering a 24-hour period for several cases.Keywords: Blockchain, Distributed Energy Resources, Electricity Markets, Microgrids, Peer-to-peer.JEL Classifications: O12, Q21, Q42, Q47

This paper examines the impact of oil price volatility on macroeconomic performance in fourteen non-oil exporting Sub-Saharan Africa (SSA) economies using panel ARDL model fort he 1980-2015. It also looks at the channels through which oil price volatility transmit to the three major sectors of their economies. The panel ARDL estimate indicates how persistent oil price volatility prevailed on the economy by measuring the short run and long run effects. The result shows that economic activity and sectors, respond very differently to oil price volatility depending on the time period whether short term or long term. In particular, oil price volatility has a negative effect on the macroeconomy in the short run but the effect becomes positive in the long run. The result also indicates that oil price volatility dampens the agricultural sector but improves the activities in the manufacturing and services sectors. The results further show that oil price volatility affects the exchange rate and interest rate channels negatively but positively through the inflation channel. The paper therefore shed some light on how the policy makers of these economies can use controlling mechanisms to stabilise the macroeconomy, key sectors and the transmission channels.Keywords: Oil price volatility, macroeconomic performance, sectors, transmission channels, non-oil exporting, SSA, panel ARDL.JEL Classification: B22DOI: https://doi.org/10.32479/ijeep.11140

Concerned by the environmental and economic threats posed by fossil fuels as the source of energy, this study uses the case of Nigeria economy to understand the extent to which economic growth and carbon emissions matters for renewable energy demands. Exploring both the linear and nonlinear ARDL modelling framework, the main empirical findings are that the amplified responsiveness of the consequence of climate change has led to increase in the demand for renewable energy particularly when the underlying source of the emissions is attributable to activities in the transport sector. However, in addition to our findings of oil prices as viable for explaining renewable energy demand, this study further pointed out the economic growth as another potential for explaining renewable energy demand but vary for the boom and recession phases of the business cycle. Keywords: Renewable energy demand; CO2 emission; economic growth; nonlinear ARDL; NigeriaJEL Classifications: C22; F64; Q21; Q42, Q53DOI: https://doi.org/10.32479/ijeep.11306

Petroleum fiscal regime has been a controversial issue in Nigerian economy. The basic issue is which regime will lead to the greatest benefit to the government without negatively affecting the performance of the international oil companies. Nigeria has in the past used different regime and had adopted the current price sliding royalty regime in 1996. The aim of this study is to examine how the new price sliding royalty affects the stake of government and contractors. This study adopts ex-post research design approach using data from various sources between 1980 and 2019. The autoregressive distributed lag (ARDL) regression approach was adopted for the data analysis. The unit root results reveal that the time series data consists of a mix of I(1) and I(0) variables. The ARDL Bound cointegration test shows that all the variables specified in the models have long run relationship. Estimates from the models indicate that the royalty regime in the Deep Offshore and Inland Basin Production Sharing Contract has positive and significant impact on the stake of government in the long and short runs, but negative impact on the stake of contractors. Furthermore, the royalty regime has negative impact on contractors’ performance in the long run. However, the impact on the three fiscal indicators (oil revenue, government expenditure, and deficit-GDP ratio) is positive. The study therefore recommends the repeal of the Nigerian petroleum fiscal policy with the new price sliding royalty to encourage investment and development of the petroleum sector.Keywords: Deepwater; Fiscal sustainability; Government and Contractor takes; Price sliding; Royalty regimesJEL Classifications: P28, O22, O38DOI: https://doi.org/10.32479/ijeep.10837

This paper is aimed at analyzing the interrelation between Foreign Direct Investment (FDI) and Energy Consumption (EC) in Mexico during the period 1970-2014. To do that, we carry out a cointegration test and a Granger causality analysis. The empirical results from the cointegration test show a stable link between the growth rates of FDI and EC in the long run. While the results from Granger’s causality show that in the short run there is a unidirectional Granger causality from the growth rate of FDI toward the growth rate EC, while in the medium and long there is a bidirectional causality between the growth rates of FDI and LEC in Mexico during the period under study.Keywords: foreign direct investment, energy consumption, cointegration, Granger causalityJEL Classifications: C32, F21, Q43.DOI: https://doi.org/10.32479/ijeep.10988

This research examines how profitability, company size, board independence, and board gender diversity affect carbon emission disclosures in Indonesian companies. The sample of this study consists of 36 manufacturing companies which were consecutively listed on Indonesian Stock Exchange from 2015 to 2018. The carbon emission disclosures were measured using a disclosure checklist consisting of 18 items. Using multiple regression analysis, this study found that carbon emission disclosures are greater in more profitable and larger companies. This suggests that financial resources availability and the political visibility can increase carbon emission disclosures. This study also finds that carbon emission disclosures are greater in companies with a large portion of independent commissioners and female directors. This supports the legitimacy and stakeholder theories that a more independent and diversified board will be more able to manage different stakeholder expectations. The findings can provide evidence to companies about how to increase their carbon emission disclosures, which can consequently help the government to control the national carbon emissions.Keywords: carbon emission disclosure, profitability, company size, board independence, board gender diversityJEL Classifications: Q56, G34, M14DOI: https://doi.org/10.32479/ijeep.10792

Renewable energy resources ranking, and power plant location selection are multi-criteria decision-making (MCDM) problems. These problems can be solved as two-phase decision-making tasks separately and sequentially or, in a unified form, as a single-step task. In this paper, we are studying the efficiency and applicability of the unified approach based on fuzzy and Z-information, and TOPSIS technique. Alternatives for the single-step approach are generated based on renewables available in the country and potential geographical locations for these resources. Considering the importance of weights in MCDM and the multiplicity of approaches to criteria weighting, subjective, objective, AHP-based, and combination of the subjective and objective weights are used for decision matrix weighting. Comparative analysis of the solutions, based on various weights, allows making a reliable solution. The results of the study and problem solution confirm the efficiency and applicability of the combined approach. The advantage of the unified single step solution is that this approach, in addition to the solution of the main task, provides to decision-maker additional information about preferable next best renewable and location option as well. Keywords: renewables selection, multi-criteria decision, fuzzy and Z-information, plant location selection, criteria weights.JEL Classifications: D81, P48, Q35, Q42DOI: https://doi.org/10.32479/ijeep.10880

This study offers Sustainable Development Measurement using three variables, namely; The Human Development Index (HDI) represents Sustainable Social Economic Development, and the Environmental Quality (EQ) represents Environmental Sustainability, while the Exogenous Variable is Household Electrification (EoH). With Analysis Using Structural Equation Modeling, the results showed; EoH positively and significantly correlated to HDI. EoH is negatively correlated and significant to EQ. HDI significantly negatively correlated with EQ. Electrification of Households causes the occurrence of Sustainable Social Economic Development, and vice versa, the electrification of households causes the occurrence of environmental sustainability, and the relationship of sustainable Social Economic Development causes the occurrence of environmental sustainability. Research Novelty is the Role of Moderation from EoH to the relationship between HDI and EQ so that provinces with low Household Electrification with Provinces with high Household Electrification will differ in environmental damage due to Sustainable Social Economic Development. Reference for Policy Makers to replace fossil fuel power plants that supply the electricity in households with environmentally friendly power plants.Keywords: Sustainable Development, Household Electrification, Structural Equation ModelingJEL Classifications: Q01, L94, C38DOI: https://doi.org/10.32479/ijeep.10937

It is very important to make forecasts to support future planning. In electricity field, for estimating the demand for electrical energy, there are several influential factors to be considered, e.g. economic growth, increased demand for electricity, and the capacity of power and electrical energy providers. The limited availability of data and variables causes the predictions made to be inaccurate. This paper focuses on the accuracy of forecasting with various numbers of variables to optimize the data held. The initial stage of this research is the division of clusters using the hierarchical clustering method to divide 24 administrative regions into 6 clusters, and to increase the accuracy of forecasting using principal component regression. Based on the results obtained, it can be seen that the MAPE values vary in each cluster. The use of 7 variables in forecasting, in general, shows better accuracy than the use of 6 or 5 variables. However, the difference between the number of these variables is narrow. In cluster 6, the MAPE value in 7 variables is 0.88% while in 5 variables the MAPE value is 0.91%. In cluster 1 and cluster 4, the use of 5 variables has a better value than the use of other variables. Thus, this model can be used and developed to do forecasting even though it uses limited data and variables.Keyword: Spatial Forecasting, Clustering, Principal Component AnalysisJEL Clafissifications: C210, C25, C380DOI: https://doi.org/10.32479/ijeep.11010

The article considers the main mechanisms for controlling the formation of oil prices, including Brent and Urals brands. Based on the analysis of trends in the oil market and their dynamics over the past decades, the authors identify factors affecting pricing in the oil market, different oil market price control systems, and their dynamics. Our results show that there is a substantial price gap in the world oil market between the Brent reference grade and the Urals crude grade, while the formation of the Urals brand price is opaque. Comparing the key characteristics of different systems of price control in the oil market, we revealed that under the influence of external and internal factors, the system of control over pricing in the oil market underwent significant changes throughout its existence. The authors conclude that at present, there are real prerequisites for the institutional correction of the global oil market in terms of strengthening the administrative levers of developed countries control over exchange and OTC pricing mechanisms.Keywords: oil market, Brent brand, Urals brand, oil price, pricing factors, pricing system, pricing control mechanism.JEL Classifications: G23; L52; O24DOI: https://doi.org/10.32479/ijeep.11022

As a source of revenue for the state budget and a source of energy (particularly fuel) to drive various sectors of life, the oil and gas industry plays an important role in the Indonesian economy. The purpose of this study is to analyse the effect of crude oil prices on natural gas during the Covid19 Pandemic in Indonesia. The research method used is an explanatory method using the real price decomposition of crude oil introduced recently by Kilian (2009). This study develops four variables for the oil and natural gas market through a structural vector autoregressive model (SVAR). Based on the results of the analysis, hence some evidence is found that the crude oil market affects the natural gas market in Indonesia through a combination of changes in demand and not through changes in oil supply during the Covid-19 pandemic. The uncertainty of oil supply due to the Covid-19 pandemic has made the oil market shift to the natural gas market and increased the price of natural gas as the main substitute for oil. Meanwhile, changes in demand in Indonesia during the Covid19 Pandemic affected crude oil and gas prices, causing similar fluctuations in oil and gas prices.Keywords: Crude Oil Prices, Natural Gas Prices, Demand, and Supply JEL Classifications: P41, P28, P43DOI: https://doi.org/10.32479/ijeep.10671

Amid the energy reform efforts by the Taiwan government, residential energy demand continues to face an escalating trend every year. This indicates the phenomenon of the energy efficiency gap. One of the factors that control the energy efficiency gap is the rebound effect. The rebound effect is related to the increase in energy consumption through efforts to reduce the use of energy itself. This can be due to the low cost of usage that causes a person to be encouraged to use more energy. This study aims to estimate the magnitude of the direct rebound effect of household electricity consumption in Taiwan using monthly time series data from January 1998 to December 2018 and to implement the artificial neural network (ANN) as an alternative approach to measure the direct rebound effect. Based on the simulation results, the direct rebound effect magnitude for household electricity consumption in Taiwan is in the range of 11.17% to 21.95%. GDP growth is the most important input in the model. Additionally, population growth and climate change are also critical factors and have significant implications in the model.Keywords: energy efficiency gap, direct rebound effect, artificial neural networkJEL Classifications: Q43, C63, E7DOI: https://doi.org/10.32479/ijeep.9834

The study aims to investigate how oil continues to be the driving force of the Omani economy. Accordingly, changes in oil prices will have positive or negative impacts on all economic sectors. This study investigates the impact of oil prices on firm performance in 74 industrial and services companies listed on the Muscat Stock Exchange (MSM) from the years 2010 to 2018.This study’s econometric model uses panel data regression since comprising time-series and cross-sectional data. The paper examines the effects of oil price fluctuations on the sampled firms’ performance. The statistical analysis indicates that oil prices have a significant positive impact on financial performance (as measured by return on assets - ROA) with the exception of the interest rate. Moreover, all fixed effects are highly significant for the five sectors. This result contributes to the literature by highlighting the impact of oil price on firm performance in Oman’s industrial and service sectors. Both sectors are highly exposed and sensitive to oil price fluctuations. All regression coefficients in all sectors are highly significant, with the exception of interest rate, which has no impact on the profitability performance of the cement, oil, and textile industries. Moreover, both fixed and effects models are highly significant.Keywords: Oil price, Firm performance, ROA, panel data, industrial and service sectors, Oman.JEL Classifications: E44, F31, F37, B25 DOI: https://doi.org/10.32479/ijeep.10990

This study analyzes the causal relationship between oil prices and production costs and their implication over hedging in production companies. Two different data sets have been used as a proxy for production costs: i) monthly product price index related to oil activities from the Bureau of Labour of Statistics; ii) yearly data obtained from reports of publicly traded oil companies. For the oil price, different future contracts of Brent (1M, 12M, 24M, 60M) have been explored. Based on Granger's definition of causality, and using the Toda-Yamamoto (1995) methodology, both causal directions have been tested. The results obtained indicate that oil prices (any term of the curve) Granger-cause production costs, and not the other way around (as it has been considered for many specialists) in any term of the curve.Keywords: Oil Price, Production Costs, Hedging, Granger Causality, Toda-Yamamoto JEL Classifications: Q41, Q47DOI: https://doi.org/10.32479/ijeep.10887

This paper investigates several key challenges faced by oil-rich countries regarding their economic growth and development. First, it discusses how to determine currency overvaluation for these countries (if any). To determine the overvaluation, the real exchange rate (RER) is calculated and the Balassa–Samuelson effect is estimated via a regression model. Next, the study presents an empirical model for assessing the impact of oil rent on economic growth in the context of currency overvaluation and the institutional quality in every country. As a dynamic model, both endogeneity and heterogeneity are expected across cross-sections because countries are different in culture, customs, and political institutions. Consequently, heterogeneous panel data analysis is undertaken using the error correction model cointegration technique and the mean group estimation method in an autoregressive distributed lag model. Finally, the study concludes the findings and provides policy recommendations by offering a new perspective on an ongoing dilemma, discussing the challenges and limitations facing developing oil-rich countries and how their path to success may differ from other countries.Keywords: Natural resources; Rent-Seeking; Institutions; Economic Growth; Energy EconomicJEL Classifications: D72; E02; F43; O47; Q43DOI: https://doi.org/10.32479/ijeep.10971

This study examines the issues of modernisation of the state planning system in the Republic of Kazakhstan, taking into account the Paris Climte Agreement and new pledge on achievement of the carbon neutrality. Based on the generalisation of the international experience of the OECD countries, authors determine the main approaches, principles and priorities for adapting the strategic planning system to the conditions of climate change and global risks. According to the authors opinion, approaches to imporovement of the planning system in terms of decarbonisation should be based on the OECD methodology. In conclusion, the authors substantiates the recommendations to the Government of Kazakhstan on improvement of the state planning system trough an integration of the SEA and decarbonisation principles.Keywords: climate change adaptation, state planning system, decarbonisation of economy, emission of the GHGs, energy efficiency, renewables, monitoring approaches.JEL Classifications: Q5,Q54, Q56, O3DOI: https://doi.org/10.32479/ijeep.11308

The article examines the spillover effect of the transition to renewable energy on different financial markets: specifically, the stock market. The research paper analyzes the prices and dynamics of oil-related assets and renewable funds, as well as reviews literature on the topic in order to evaluate the most important factors of development in these industries. The article utilizes methods of correlation analysis, analysis of variance, regression analysis and standards of deviation and error with the intention to test null hypotheses from previous research. The study uses empirical data spanning the majority of the last decade, in which a decline in the oil market can be observed. This is juxtaposed by the rapid and intense development of renewable energy – solar energy in particular. As concluded in the article, there is a strong spillover effect of this growth onto other markets, emphasizing the investments flowing into renewable energy. Moreover, the ambitious prospects of renewable energy development and it being a strong competitor to fossil fuels and, specifically, oil is drawn as a result of the conducted research.Keywords: Spillover effect, solar energy, oil energy, transition, energy investments.JEL Classifications: C12, C52, E23, Q41DOI: https://doi.org/10.32479/ijeep.10899

This study considers the importance of comprehensive pipeline network plans with exploring the determinants of vertical integration in Japan’s natural gas distribution utilities from the perspective of transaction cost economics. Japan’s natural gas industry is reliant on imported liquefied natural gas (LNG) that normally requires regasification prior to consumption. Unbundling of the industry has not been enforced and while some local distribution utilities purchase gas via pipelines that is regasified by the seller, others choose LNG from tank trucks with subsequent regasification occurring in-house (vertical integration). Estimating the determinants of vertical integration in terms of transaction cost economics, I deduce the cause of poor pipeline networks in Japan. This study found that local distribution utilities prefer to purchase natural gas via pipelines when there are neighboring wholesalers or utilities. Hence, a broad pipeline network has never been constructed because local distribution utilities construct point-to-point pipelines to neighboring utilities or wholesalers. This indicates that without pipeline network planning by the government, comprehensive infrastructure policies, or financial support, a broad pipeline network will not be built throughout the country.Keywords: Natural Gas, Transaction Costs, Probit model, Pipeline Networks. JEL Classifications: Q40, L95, L81DOI: https://doi.org/10.32479/ijeep.11049

This paper aims to analyze the market reactions on corporate actions in the form of split-up, reverse split, right issue, and mergers and acquisitions in growing and non-growing energy consuming companies in Indonesia. The market reaction is analyzed based on stock price, trading volume, and abnormal returns movements using paired sample t-tests from the results of the event study for five days before and after corporate actions in the form of split-up, reverse split, right issue, and mergers and acquisitions. The results showed that stock prices reacted positively on the split-up in growing energy consuming companies, while in non-growing energy consuming companies, stock prices did not react significantly. However, the abnormal returns of growing and non-growing energy consuming companies both showed a negative movement, while the trading volumes did not react significantly. This paper specifically analyzes the market reaction on corporate actions in growing and non-growing energy consuming companies to provide interesting insights about the different reactions given by the market to corporate actions carried out by the companies with different growth categories.Keywords: Market reaction, corporate action, split-up, reverse split, right issue, merger and acquisitionJEL Classifications: D81, P48, Q35, Q42DOI: https://doi.org/10.32479/ijeep.10737

Renewable energy, which is the type of energy that plays a major role in the development and growth of countries, plays an important role in today’s world, considering that the life of depleted energy resources is finite. Compared to fossil energy sources, except that its source is infinite, a noticeable difference in carbon dioxide emission is seen as the reason for preferring renewable energy sources. Many studies in the literature investigate the relationship between the consumption of renewable energy resources and economic growth. This study was conducted on renewable energy production in 27 European Union member countries explores its impact on employment. In the study, panel ARDL test was conducted with the data for the years 2006-2019. According to the results of the study, renewable energy generation has a positive effect on employment in European Union countries in the long term. In the long run, a 1% increase in renewable energy primary production increases employment by 0.08%. Increasing the use of renewable energy resources should go beyond being a policy recommendation in international conventions. The fact that these resources provide employment in large areas can be a good alternative today with high unemployment rates.Keywords: renewable energy, employment, developed countries, panel ARDLJEL Classifications: O40, Q43, Q40DOI: https://doi.org/10.32479/ijeep.10744

The inconclusiveness of findings from various studies on Nigeria on the effect of crude oil price fluctuation on the stock market has led to an argument in literature, thus necessitating further exploration of the subject. This study examines the effect of variations in the price of crude oil on selected stock market performance variables in Nigeria using monthly frequency data covering January 1997 to December 2016. Variance decomposition, impulse response analysis, and VAR estimations were employed for the study. The results reveal that oil price variations are slowly transmitted in some stock market performance variables. The findings indicate that the effect of crude oil price fluctuations in the Nigerian stock market is greatly minimized and does not sufficiently account for market activities.Keywords: Emerging Economy, Nigeria, Oil Price Shocks, Stock Market, VAR.JEL Classifications: C25, Q47, F4DOI: https://doi.org/10.32479/ijeep.10140

Renewable energy sources are still not the predominant energy resource in the energy sector, although in certain developed countries they participate in a significant share in electricity generation. It is estimated that world energy consumption from renewable energy sources exceeds 20% at the present and continues to grow. Renewable energy sources appear as an additional source of energy in the conventional electro-industry. The main reason for the increasing investment and exploitation of renewables is certainly environment preservation and environmental aspect of sustainability. This study seeks to expand the existing literature and contribute to a comprehensive understanding of the characteristics of renewable energy sources as a whole. Therefore, the purpose of this paper is to determine the advantages and disadvantages of renewable energy sources utilization in general, without considering the individual type of renewables, such as wind or solar energy. Thereby, the paper presents numerous advantages of using renewable energy in the electricity generation, such as environment preservation in terms of reduced greenhouse gas emissions or improvement of innovations and technical/technological development. There are also presented certain disadvantages of renewables in the production of electricity, such as dependence on weather conditions or low energy efficiency and low ability to produce electricity. Keywords: Renewable energy sources, boosting the economy, environment preservation, renewables limitations JEL Classifications: Q42; Q56DOI: https://doi.org/10.32479/ijeep.11027

The ongoing depletion of fossil resources, the energetic autonomy of countries, soaring prices for petroleum and climate change have stimulated research and development on renewable energy as biofuels. In this work, a bibliometric analysis of the Web of Science database was carried out to identify the research related to sugar beet to biofuels. The equation logistic was used to quantitatively describe the growth of the publication of sugar beet in the biofuels field. The results show that the publications of sugar beet for biofuel have a rate of growth of 0-1898 year-1. Germany and the USA were the countries with high influence for research in the field of sugar beet for biofuels. The journal Zuckerindustrie was the referent to publications in the field of study. From 2003 to 2019, the exponential growth of publications was found, this profile of growth can be attributed to the development of renewable energy and the relevance of global warming, security energetic and laws that promoted clean energy. This work shows that the logistic equation can be used to predict the evolution of publications in the field of study.Keywords: Beta vulgaris, beets, root beets, biofuel, fodder beetJEL Classifications: Q16, Q20, Q42DOI: https://doi.org/10.32479/ijeep.11013

In this paper we investigate the relationship between access to modern energy services and human development in India over a decade. We estimate an index of human development, multidimensional energy poverty index, and confidence index. Empirical result shows that energy poverty is quite widespread in most of the states in spite of the progress made in reducing the same during the study period. States with higher level of human development are having lower level of energy poverty implying a strong negative correlation between energy poverty and human development. Further, the strength of negative relationship between energy poverty and human development has strengthened during the study period. Among the components of human development, energy poverty has highest impact on GSDP percapita index followed by education index and life expectancy index. The study also finds that confidence index has positive relationship with human development index, whereas negative relationship with energy poverty.Keywords: Energy Poverty, Human Development Index, Capability, Multidimensional Energy Poverty Index, Confidence Index.JEL Classifications: O13, O15DOI: https://doi.org/10.32479/ijeep.10949

Changes in global development benchmarks, the gradual depletion of natural resources, as well as global climatic changes are forcing economic actors around the world to look for alternative methods of energy production. The transition to them can be difficult due to the high cost of the produced energy and pressure from states and corporations specializing in the extraction of classical energy sources. The article is devoted to the study of the transition to renewable energy. The article uses a statistical analysis of indicators and makes a conclusion about the relationship between development trends. It is clear with a fair amount of confidence that the positive dynamics of the renewable energy market is leading to changes in the energy market in the USA, Europe and some other parts of the world.Keywords: renewable energy sources, export and consumption of fossil energy, alternative energy, resource economies.JEL Classifications: C10, E21, E23, Q41, Q42DOI: https://doi.org/10.32479/ijeep.10902

This paper applied the ARDL bounds test approach and the VECM test technique to examine the long run relationship and direction of causality between renewable energy consumption and economic growth in Argentina. Quarterly time series data was employed in this study covering a period between 1990 and 2018. Trade openness, capital and employment were included in the study to form a multivariate framework. The results established that there is a long run relationship between the variables. The VECM test technique confirmed a unidirectional causality flowing from economic growth to renewable energy consumption. This implies that energy conservation policies may not harm the economic growth. The study, therefore, suggest that an appropriate and effective energy policy should be implemented in the long run.Keywords: Renewable energy consumption, Economic growth, Causality, ArgentinaJEL Classifications: D04, C32, Q47, Q42, Q01DOI: https://doi.org/10.32479/ijeep.6375

Brassica carinata, a nonfood oilseed crop, is used to produce renewable fuels because of its high oil content and favorable fatty acid profile. Production in the southeastern United States is relatively new, and information on agronomic management practices to optimize growth and yield is limited. Since optimal seeding rate may depend on the land preparation method for this small‐seeded crop, a study was conducted to evaluate the effect of tillage system (conventional, no‐till, broadcast‐disc, and ripper‐roller) and seeding rate (1.12, 5.60, 10.09, and 14.57 kg seed ha−1) on the performance of B. carinata. A randomized complete block design with a strip‐plot restriction on randomization and four replications was implemented in Headland, AL, Jay, FL, and Quincy, FL, over five site‐years during the 2017–2018 and 2018–2019 growing seasons. Data were collected on soil residue cover; plant population; soil penetrometer resistance and moisture; biomass (including carbon and nitrogen); stalk diameter; yield and yield components; seed oil, protein, and glucosinolates concentration; and oil composition. Soil penetrometer resistance was significantly affected by tillage system, with the ripper‐roller consistently having the lowest penetration resistance values across all site‐years. Ripper‐roller tillage had the highest oil content and lowest protein and glucosinolate contents. Yield response to tillage system was variable. Among seeding rate treatments, yield was lowest at 1.12 kg seed ha−1 and similar among 5.60, 10.09, and 14.57 kg seed ha−1 at all site‐years. There was no tillage by seeding rate interaction for yield. Results indicate that among seeding rate treatments used, 5.6 kg seed ha−1 rate was optimal at all site‐years regardless of land preparation method and is thus the recommended seeding rate for commercial carinata production in the Southeastern United States.

The present study aims to explore the causal relationship among economic growth energy consumption and urbanization and environmental quality in ASEAN-5 countries. The current study conduct time series analysis in ASEAN-5 countries using the granger casualty model consisting data set from 1980 to 2018. The outcomes of the present study reveals that the energy consumption urban population granger cause to CO2 emission in ASEAN-5 countries. The study suggested that ASEAN-5 should reduce the utilization of fossil fuel based energy and induct robust policies towards augmenting the adeptness of renewable energy and energy-usage programs to condense redundant energy waste.Keywords: Economic growth, energy consumption, environmental quality, CO2 emission, environmental sustainability, ASEAN-5JEL Classifications: F64, N75, O13DOI: https://doi.org/10.32479/ijeep.11213

The present study employed various qualitative techniques to investigate the nature and influence of policies and regulations concerning solar and wind pricing on the Australian electricity spot and options markets. The analysis was based on data gathered through interviews conducted with energy managers, chief executive officers and other significant personnel from the Australian electricity industry. The interviewees’ responses regarding the solar and wind policies of relevance to the Australian electricity markets were examined, and the thick and in-depth content data derived from the interviews were used to examine how their views and personal politics influenced pricing within the electricity markets. The results suggest that renewable energy policies lower the electricity prices, reduce the risks for investors and also result in larger deployment mechanisms.Keywords: Electricity pricing, Renewable energy, Energy policies.JEL Classifications: Q13, Q4, Q42DOI: https://doi.org/10.32479/ijeep.10991

The article describes the past and future energy and natural resources policies in Russia. The authors consider the main trends and prospects in the state energy policy. The article shows the relationship between the National Welfare Fund growth and the decline in consumption. The authors argue the ability of raw materials revenues to solve problems of social financing. The analysis relies on the VAR and VECM-model to test the generated hypotheses. The model explores changes in energy prices in proportion to changes in individual factors of social and savings policies, taking into account the random component. We take the two most important elements of population income - these are social payments and wages. The article provides an opportunity to reflect on the ability of the innovative distribution of oil and gas revenues to change current social policies. The study complements our knowledge of the lack of social financing and the need to increase the real level of income.Keywords: energy prices, oil revenues, social benefits, wagesJEL Classifications: E21, E25DOI: https://doi.org/10.32479/ijeep.11147

The objective of this paper is to empirically examine whether energy consumption and governance quality affect sustainable development in 17 Middle East and North Africa (MENA) countries over the period 1984-2018 using a simultaneous equation model (SEM). Empirical results provide evidence that control of corruption and the institutional or governance quality of are complementary and essential for energy consumption to have an indirect positive impact on sustainable development. The results also show that sustainable development reacts negatively to energy consumption because the poor governance quality in MENA countries. These empirical insights are of particular interest to policymakers to improve the governance quality and implement sound economic policies to support economic development.Keywords: governance quality, energy consumption, economic growth, simultaneous equation modelJEL Classifications: H11, Q01, Q43, C30DOI: https://doi.org/10.32479/ijeep.11259

The crude oil price fluctuation investigation is to explore the impact of crude oil price shocks on the countries’ economic growth. The Vector Autoregressive Model (VAR) was applied and the variance decomposition is to analyze the impact of the GDP growth due to the shock of the crude oil price. Besides, nine countries' data were collected from 1990 to the third quarter of 2020. The countries' GDP growth was impacted by the crude oil price in 5 years respectively: 44.98%; 40.03%; 31.06%; 32.27%; 33.21%; 36.03%; 27.79%; 15.35%; 40.75% of the following countries are: China; America; Japan; Korea; Singapore; Thailand; Indonesia; Vietnam; Malaysia. This study identifies issues for countries to consider: have a comprehensive solution among macroeconomic policies, monetary policy, fiscal policy and other policies to control and stimulate growth.Keywords: Impulse response functions, Oil price stabilization fund, economic growth, cointegration method, macroeconomic policies.JEL Classifications: E31, E37, D24DOI: https://doi.org/10.32479/ijeep.10852

Hemp (Cannabis sativa L.) is a multi‐use crop that has been investigated for its potential use in phytoremediation of heavy metals, radionuclides, and organic contaminants, and as a feedstock for bioenergy production. A review of research literature indicates that hemp is a suitable crop for phytoremediation, and a competitive option for bioenergy. Coupling phytoremediation and bioenergy production from a single hemp crop is a potential solution to overcoming the economic constraints of phytoremediation projects. The current challenge is ensuring that the extracted contaminants are not introduced into the consumer marketplace. After several decades of limited research on hemp in the United States, the purpose of this review is to identify the knowledge available for hemp applications in phytoremediation or in production of bioenergy, and if and how those two purposes have been combined. The literature shows that hemp growth has been demonstrated successfully at the field scale for phytoremediation and in several bioenergy conversion technologies. Little is known about the fate of contaminants during hemp growth or during post‐harvest processing, especially the relationships between hemp genetics, metabolomics, and contaminant partitioning. Complicating the understanding is the expectation that contaminant fate will be dependent on the contaminant type, the concentration in the material, and the processing methods. Before hemp from phytoremediation applications can be used for bioenergy, the fractionation of heavy metals, radionuclides, and/or organic compounds during transesterification, anaerobic digestion, fermentation, and/or combustion of hemp must be evaluated.

Apart from being the most urbanized and largest emitter of CO2 emissions in Africa, South Africa currently harbours an ecological deficit territory mainly due to its desire to attain more growth with less attention to its natural environment. Since environmental distortions are mainly an outcome of human activities, this study becomes the first to investigate the linkage between natural resource (NR), human capital, energy consumption, and ecological footprint (EF) in South Africa. Findings from the long-run results reveal that energy consumption, natural resource, economic growth, and urbanization add to the EF, while human capital curtails environmental deterioration. The interaction between human capital and urbanization helps in mitigating environmental degradation, which suggests a moderating effect of human capital in urban sustainability. The CCR, DOLS and FMOLS confirm the robustness of the findings. A feedback causality exists between natural resource and economic growth, and between economic growth and EF. Natural resources and urbanization also Granger cause EF. Lastly, policies relating to urban and natural resource sustainability and human capital development are discussed.Keywords: Energy Consumption; Natural Resource; Human Capital; Urbanization; Ecological Footprint; South Africa.JEL Classifications: Q40, Q45, Q32.DOI: https://doi.org/10.32479/ijeep.11099

The purpose of this study is to identify areas of energy-efficient development in petrochemical supply chains through the use of computer analysis tools. The study uses system approach methods, comparisons, vertical dynamic analysis, economic and mathematical modeling, forecasting, factor analysis. Listed implementation methods helps to meet number of scientific results: systematized programs are applicable for petrochemical product supply management chains, as well as for a number of methods and algorithms developed by the authors in the framework of ensuring resource-saving development of petrochemical enterprises; dynamics assessment of supply chains' petrochemical products in terms of energy consumption and energy efficiency consumption indicators; a production function expressed in the form of dependence of the production energy efficiency between the factors of capital (Costs per 1 ruble of sold products) and labor (Labor intensity) is proposed, allowing rational planning in the parameters of the production and logistics system of the PJSC "Nizhnekamskneftekhim" enterprise; a factorial model is developed, as a result of which two factors (energy and economic) formed energy resource efficiency indicator of petrochemical supply chains is proposed. As a result, promising directions for reducing energy intensity production and improving of supply chains for petrochemical products energy efficiency are identified.Keywords: petrochemical products, supply chains, energy resource efficiency, energy saving, energy intensity of productionJEL Classifications: О14, D24, С41DOI: https://doi.org/10.32479/ijeep.11270

The present work wants to assess the environmental and energetic sustainability of 27 European countries. To this aim, a Multi-criteria decision analysis and an analytical hierarchy process has been implemented to gather and process information from the experts. Results show that only four countries (Sweden, Denmark, Finland and Austria) present very significant performances. The intervention of policymakers must be clear, by penalizing non-responsible behavior, encouraging the development of circular and green practices, also through the exploitation of subsidies. A continuous monitoring of values over time and the identification of more appropriate criteria to evaluate performances, including economic and social views, are objectives to be addressed in the next future.Keywords: energy efficiency; greenhouse gas emissions; multicriteria analysis; renewable energy; sustainability; waste managementJEL Classifications: Q20; Q40; Q50DOI: https://doi.org/10.32479/ijeep.11169

Barley is a major cereal crop with a wide ecological range, and its lignocellulosic residues have the potential to be used as a feedstock for various purposes, including biofuel production. Lignocellulosic biomass is an abundant renewable source of carbon energy. However, its heterogeneous properties and intrinsic recalcitrance caused by cell wall lignification have lowered the biorefinery efficiency. The reduced lignin content and/or altered lignin structure have been desirable traits for lignocellulosic feedstock. We report the reduction of lignin content in barley by CRISPR/Cas9‐mediated mutagenesis of caffeic acid O‐methyltransferase 1 (HvCOMT1), the lignin biosynthetic gene responsible for lignin syringyl unit formation. The transgene‐free, homozygous HvCOMT1 mutant was generated and analyzed for its cell wall composition, saccharification efficiency, and bioethanol production performance. The mutant had 14% lower total lignin content and 34% higher fermentable glucose recovery rate, compared to the wild‐type (WT). The bioethanol concentration and yield from the hydrolysates of the mutant biomass were 14.3 g/L and 0.46 g/g total sugar, respectively. This result was 34% and 12% higher than those obtained from WT (10.7 g/L and 0.41 g/g total sugar). Under controlled environmental conditions, the overall growth performance of the HvCOMT1 mutant was similar to WT, with no distinct morphological variations between them. The HvCOMT1 mutant barley could offer improved quality lignocellulosic feedstock for efficient lignocellulosic biofuel production.

Both hypothetical and empirical evidences have found the roles that human capital and energy infrastructure in spurring the economic growth of a nation as very germane. These key variables are undoubtedly working together in a quest to achieve equitable redistribution of the nation’s economic resource and ensuring poverty reduction. This study is based on an attempt to use co-integration and ARDL modeling framework to examine the empirical evidence of the impact of the different components of human capital and energy infrastructure on economic growth in Nigeria between 1981 and 2018. Findings from the study showed that the quality of educational, transportation and communication facilities had a significant and contemporary influence on economic development. In the same way, investment in physical resources calculated by gross fixed capital development, quality of healthcare facilities, availability of power supply were also found to have a positive impact with a lag effect on economic growth. Implicitly, an increase in these facilities over the past decade in terms of their availability and efficiency would boost economic development over the current period. The study therefore recommended that education and health should be given an unwavering focus on investment by the policy maker as components of human capital coupled with energy infrastructure if the desired growth for which Nigeria aspires is to be attained.Keywords: Human capital, Energy Infrastructure, Economic GrowthJEL Classification: F, O4, Q4DOI: https://doi.org/10.32479/ijeep.10066

Effective catalysts are indispensable for the preparation of fuel components from vegetable oils via the one‐step hydrothermal method. In this study, the Pt/MCM‐41 catalysts were prepared by etching with sulfuric acid, citric acid, or hydrochloric acid. The performance of the obtained Pt/MCM‐41 catalysts for the hydrothermal treatment of vegetable oils was evaluated in a fixed‐bed reactor using Jatropha oil as a model raw material (temperature = 360°C, liquid hourly space velocity = 1 h−1, hydrogen–oil ratio = 1000, and hydrogen pressure = 4 MPa). The modified catalysts were characterized using X‐ray diffraction, transmission electron microscopy, Brunauer–Emmett–Teller analysis, X‐ray fluorescence spectrometry, temperature‐programmed desorption of NH3, CO chemisorption, and pyridine adsorption infrared spectroscopy, respectively. Furthermore, the selectivity of various fuel components, including C8–C16 alkanes, C8–C16 iso‐alkanes, C8–C16 arenes, and C17–C18 alkanes, were analyzed based on the catalyst characteristics. Acid etching was found to decrease the surface area of Al‐MCM‐41 but increase the amount of acid sites, and among these acids, citric acid was proved as the priority additives, with better catalytic performance. Moreover, this catalyst exhibited the best conversion and the highest C8–C16 and C17–C18 selectivities.

The purpose of this paper is to forecast monthly gasoline prices in Jordan by applying Gaussian process regression on monthly prices of two types of gasoline (octane-90 and octane-95) during the period January 2008 to December 2019. Accurately predicting gasoline prices have several fiscal policy implications concerning fuel subsidies and taxes. Also, they affect the consumption and the production of decisions. Moreover, they are crucial for designing and analyzing environmental policies. The Gaussian process model was able to treat a geometric Brownian motion with a deterministic unknown drift function. The performance of prediction was measured using the Root Mean Square Error (RMSE) and the Mean Average Percentage Error (MAPE). Where the numerical results show that the model predictions of gasoline prices were accurate.Keywords: Geometric Brownian motion; Gaussian process regression; Gasoline prices; Maximum likelihood method; Covariance functionJEL Classifications: C11, C15, Q47, Q48DOI: https://doi.org/10.32479/ijeep.11032

This study investigated the impact of oil Petroleum production on economic growth in the Gulf Cooperation Council countries using panel autoregressive distributed lag model covering the period from 1960 to 2018. The results indicated that oil Petroleum production have significant positive impact on economic growth in both the long-run and the short-run period, also results show that variables are Co integrated by using the pool mean group (PMG) method. Panel Causality Test indicates that there is a causal relationship between Oil production and economic growth. There exists unidirectional causality running from economic growth (GDP) to petroleum production (PP).Keywords: Economic growth, Petroleum production, CCG countries, Panel co-integration, Panel causalityJEL Classifications: C01, Q40, Q43DOI: https://doi.org/10.32479/ijeep.11048

The study is an attempt to examine empirically the effects of oil price shock on current account imbalances. The analysis is carried out on the cross-country panel of 160 countries that are divided into three different groups base on their level of oil imports. The relationship between the oil price shock and current account imbalances is rigorously assessed using two different approaches. Firstly, the seemingly unrelated regression models are used to estimate the effects of oil price shock on current account imbalances with transmission channels namely trade, valuation, and wealth. Secondly, to examine the indirect effects of oil price shock three different mediator effects that direct, indirect, and total are estimated. The findings of the study reveal that for all three groups of countries the oil price shock pose a positive effect on the current account through the trade channel. Whereas, the current account of all three groups is negatively associated with oil price shock with the wealth channel. The valuation channel holds a mix results across country groups about the effect of oil price shock on the current account balances. In the case of low and major oil importer countries, oil price shock is negatively associated with the current account, whereas the current account of medium oil importer countries is improving with an increase in oil prices. The mediation analysis holds mix results across groups of countries. Keywords: Current-account imbalances; oil importing economies, seemingly unrelated regression; mediation effectsJEL Classifications: F4; F41DOI: https://doi.org/10.32479/ijeep.11044

Stock price data at State Gas Company is defined as the time-series data comprising varying volatility and heteroscedasticity. One of the best models used to solve the problem of heteroscedasticity is the GARCH (generalized autoregressive conditional heteroscedasticity) model. Therefore, this study aims to build the most suitable model for predicting the 186 days before and 176 days after the Covid-19 pandemic, as well as to provide recommendations to reduce the impact of daily stock price movements. Data were obtained by examining the daily stock price data in Indonesian National Gas Companies from 2019 to 2020. The study also discusses the Event Window, with the best model identified as AR (1) -GARCH (1,1). The result showed that an error of less than 0.0015 is AR (1) - GARCH (1,1), provided the best model for price forecasting of Indonesian National Gas Companies.Keywords: Stock Price, Heteroscedasticity, GARCH Model, Event WindowJEL Classifications: C5, O42, Q4, Q47DOI: https://doi.org/10.32479/ijeep.10999