Energy Demand in Industry: What Factors Are Important? (Paperback)

1 OVERVIEW. 1.1 Introduction. 1.2 Problem Description. 1.3 Purpose of Research. 1.4 Significance of the Study. 1.5 Research Design. 1.6 Empirical Motivations. 1.7 Assumptions and Limitations. 1.8 Operational Definitions. 1.9 Expected Results. 1.10 The Structure of the Book. 1.11 References. 2 HISTORY OF ECONOMIC DEVELOPMENT IN SOUTH KOREA. 2.1 Introduction. 2.2 Stages of the Industrial and Technological Polices. 2.3 Energy Consumption. 2.4 Energy Conservation and Structural Changes in the South Korean Economy. 2.5 Energy efficiency. 2.6 Summary. 2.7 References. 3 SURVEY OF EXISTING RESEARCHES RELATED TO ENERGY DEMAND. 3.1 Introduction. 3.2 Inter-Factor Substitutability and Complementarity. 3.3 Energy Efficiency. 3.4 Energy Demand. 3.5 The Elasticity of Demand. 3.6 Critique of Previous Researches. 3.7 Summary. 3.8 References. 4 SURVEY OF EXISTING RESEARCHES RELATED TO PRODUCTION RISK. 4.1 Introduction. 4.2 Some Concepts in Expected Utility Theory. 4.3 The Argument of the Utility Function. 4.4 Production Risk and the Theory of Firm Behavior. 4.5 The Production Risk. 4.6 Mean Factor Inputs and Output Variance. 4.7 Technical Efficiency. 4.8 Critique of Previous Researches. 4.9 Summary. 4.10 References. 5 ECONOMETRICS OF PANEL DATA ESTIMATION. 5.1 Introduction. 5.2 Fixes Effect and Random Effect Models. 5.3 The Characteristics of Panel Data. 5.4 Industry Heterogeneity and Heteroskedasticity. 5.5 Industry Heterogeneity and Panel Data Availability. 5.6 Theoretical Framework. 5.7 Research Questions and Hypothesis. 5.8 The Econometric Model. 5.9 Model Specification. 5.10 Sampling Distribution Properties. 5.11 Summary. 5.12 References. 6 ENERGY DEMAND DATA. 6.1 Data Source. 6.2 Population and Sampling Strategy. 6.3 Industry Sector Classification. 6.4 The Dependent and the Independent Variables. 6.5 Multicollinearity and Validation of Results. 6.6 Overview of Statistical Analysis. 6.7 Energy Intensity in the Industrial Sector. 6.8 Empirical Test for Heterogeneity. 6.9 Summary. 6.10 References. 7 ENERGY DEMAND MODELS ESTIMATION. 7.1 Cobb-Douglas production function. 7.2 The Translog production function. 7.3 Summary. 7.4 References. 7.A Appendix: Elasticities Estimates for Translog Production Function. 8 ENERGY DEMAND MODEL I. 8.1 Energy Demand not Accounting for Risk. 8.2 The Overall Performance. 8.3 Regularity Conditions Tests. 8.4 Energy Demand Elasticities. 8.5 The Rate of Technical Change. 8.6 Hypotheses Testing. 8.7 Summary. 8.8 References. 8.A Appendix: Elasticities Estimates for Translog Energy Demand. 9 ENERGY DEMAND MODEL II. 9.1 Energy Demand Model Accounting for Risk. 9.2 Empirical Tests for Heteroskedasticity. 9.3 A Three Stage FGLS estimation. 9.4 The Overall Performance. 9.5 The Regularity Conditions Tests. 9.6 Specification Test. 9.7 Energy Demand Elasticities. 9.8 The Marginal Effects. 9.9 Technical efficiency. 9.10 Hypotheses Testing. 9.11 Summary. 9.12 References. 9.A Appendix: Summary Data, Parameter Estimates, and Elasticities for Translog Energy Demand accounting for Risk. 10 SUMMARY AND CONCLUSION. 10.1 Summary of Results. 10.2 Input Elasticities for Production Function. 10.3 Elasticities in Energy Demand Model. 10.4 Return to Scale. 10.5 Marginal Effects. 10.6 Technical Efficiency. 10.7 Conclusion about the Research Questions and Their Hypotheses. 10.8 The Research Questions. 10.9 Overview of Analysis and Hypothesis. 10.10 Implications for Industry and Policy Makers. 10.11 Conclusions and Practical Recommendations.