Journal
ENERGY POLICY
Volume 110, Issue -, Pages 609-618Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.enpol.2017.07.057
Keywords
New energy vehicles; Policy evaluation; Vehicle purchasing restrictions on; Panel co-integration
Funding
- National Natural Science Foundation of China [71690245, 71210005, 71373285]
Ask authors/readers for more resources
In order to reduce carbon emissions and urban smog, the Chinese government has instituted a number of policies to promote the diffusion of new energy vehicles (NEVs), achieving remarkable results. This paper aims to quantify the effectiveness of various policies. After reviewing and quantifying the policies directly related to the sales and driving of NEVs in the past five years, we established a multivariate co-integration model and an error correction model to analyse the long- and short-term effects of these policies. The results demonstrate positive co-integration for the relationship between the NEV market share and the NEV purchase subsidy, tax exemption, the policy of restricting internal combustion engine vehicle (ICEV) purchase, and the abolishment of traffic restrictions for NEVs. China's unique policy of restricting ICEVs has in fact promoted NEV sales by adjusting the supply and demand to influence the consumers' choices. Finally, we found technology to still be a bottleneck factor in the NEV industry, and technological progress's effect on NEV diffusion is greater than the economic subsidy policy. Therefore, this study suggests that the funds being made available from the gradual reduction of the purchase subsidy should be transferred to research and development.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available