Browse > Article

The Analysis on the Effect of Oil Price on the Energy Efficiency: Focusing on the Energy Saving Investment of Korean Manufacturing Industry  

Yang, Kyung-Chul (국방대학교 국방관리학)
Kwon, O-Sung (국방대학교 국방관리학부)
Publication Information
Journal of the military operations research society of Korea / v.35, no.2, 2009 , pp. 99-117 More about this Journal
Abstract
Energy is essential factor of production for a firm to produce goods and services. If so, what is the condition of maintaining profit of a firm when energy price is going up? In conclusion, the condition is that the rate of productivity improvement should be greater than the rate of energy price increase. To put this concretely, when the elasticity of energy price as to the productivity improvement is greater than the weight of the energy cost on to the total revenue of the firm, the firm can escape the negative effect of energy price increase. This is that, saying that once more, the firm have to reduce the energy cost or promote energy efficiency to maintain appropriate or sufficient profit when energy price is going up fast. Therefore, in this study we will analyze the effect of the oil price increase on the energy saving investment and that of energy saving investment on the energy efficiency in the field of Korean manufacturing industry. In doing so, this study could show that the effect of energy price increase on the energy efficiency of the firm and the factor of that mechanism.
Keywords
에너지절약투자액;에너지원단위;유가;패널 분석;SUR 분석;
Citations & Related Records
연도 인용수 순위
  • Reference
1 Rudiger Dornbusch, Stanley Fischer, Richard Startz, Macroeconomics 9th Edition, New York: McGraw-Hill, p.134, 2003
2 정태용, 최기홍, 정규재, '에너지효율 추정방법에 관한 연구: 제조업 부문을 중심으로,' 에너지경제연구원, 1994
3 김인길, '제조업부문 에너지효율 향상방안 연구,' 에너지경제연구원, 1997
4 Quantitative Micro Software, EViews 4 User's Guide, p.568, 2002
5 R.J. Ball, ; P.S. Drake, 'The Relationship between Aggregate Consumption and Wealth,' International Economic Review, 5, pp.63-81, 1964   DOI   ScienceOn
6 유동헌, '에너지절약 투입자금에 대한 경제적 성과 분석,' 에너지경제연구원, 2005
7 김태현 역, '세계화시대의 국가안보,' Barry Buzan, People, States and Fear; an Agenda for International Security Studies in the Post-cold War Era, 서울, 나남출판, p.278, 1991
8 최정열, '제조업의 에너지이용 효율성 분석,' 국방대학교 석사학위 논문, 1995
9 Griliches, Zvi. 'Issues in assessing the contribution of research and development to productivity and growth,' Bell Journal of Economics, Vol.10, No.1, pp.92-116. 1979   DOI   ScienceOn
10 도현재, '21세기 에너지안보의 재조명 및 강화 방안,' 에너지경제연구원, pp.35-36, 재정리, 2003
11 William H. Greene, Econometric Analysis, 4th ed, New Jersey: Prentice Hall, Inc., pp.614-636, 2000
12 김중구, '에너지자원 시설자금이용과 효과분석,' 에너지경제연구원, 1990
13 김현, 정경수, '에너지절약투자의 온실가스 배출 감소 효과,' 자원.환경경제연구, 제9권, 제5호, 2000