期刊
RENEWABLE ENERGY
卷 44, 期 -, 页码 109-118出版社
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.renene.2012.01.007
关键词
Renewable energy; Public policies supporting renewables; Panel corrected standard errors estimator; European countries
资金
- NECE
- FCT - Portuguese Foundation for the Development of Science and Technology, Ministry of Science, Technology and Higher Education
- NECE - Research Unit in Business Science and Economics
- Portuguese Foundation for the Development of Science and Technology
Qualitative and theoretical literature indicates public policies as a major driver in the development of renewables. This paper empirically tests this claim, within a context of several drivers of renewables, by focusing on a large panel of European countries. Given the presence of heteroskedasticity and contemporaneous correlation resulting from the uniformity of public policies supporting renewables, we use a Panel Corrected Standard Errors estimator. Results are consistent with the usual drivers indicated by the literature and they give empirical support to the notion that public policy measures contribute, as a whole or disaggregated, to wider use of renewables. Specifically, policies of incentives/subsidies (including feed-in tariffs) and policy processes prove to be significant drivers of improved RE use. We show that the usual panel data estimators, random effects and fixed effects, are inefficient and lead to the erroneous exclusion of these policies as renewables' drivers. (C) 2012 Elsevier Ltd. All rights reserved.
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