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http://dx.doi.org/10.15266/KEREA.2021.30.3.435

Analysis of Determinants of Electricity Import and Export in Europe Using Spatial Econometrics  

Hong, Won Jun (Department of Economics, Dankook University)
Lee, Jihoon (Department of Economics, Dankook University)
Noh, Jooman (Department of Economics, Dankook University)
Cho, Hong Chong (Department of Economics, Dankook University)
Publication Information
Environmental and Resource Economics Review / v.30, no.3, 2021 , pp. 435-469 More about this Journal
Abstract
The main purpose of this study is to identify the determinants of electricity import and export in 26 European Union countries using the Spatial durbin model(SDM). In particular, we would like to mainly explain it based on the amount of power generated by each energy source. Not just the usual way of constructing a weighting matrix based on contiguity, we adopt a weighting method based on the proportion of trade among countries with connected electricity systems. Moreover, the electricity systems of European countries are directly and indirectly connected, which is reflected in the weighting matrix. According to the results, nuclear power has a positive effect on exports and a negative effect on imports, and an increase in wind and solar power has a positive effect on both exports and imports by increasing power system instability. While Korea is unable to trade electricity due to geopolitical conditions, the results of this study are expected to provide implications for energy policies.
Keywords
Cross Border Electricity trading(CBET); Spatial econometrics; Spatial Durbin Model(SDM); Energy mix;
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