The Journal of Energy and Development

volume 39, number 2, spring 2014 (copyright 2014)
https://www.scribd.com/doc/251838349/

Mohamed Arouri, Muhammad Shahbaz, Rattapon Onchang, Faridul Islam, and Frédéric Teulon,
“Environmental Kuznets Curve in Thailand: Cointegration and Causality Analysis,” The Journal
of Energy and Development, volume 39, number 2 (spring 2014, copyright 2014), pp. 149–170.
https://www.scribd.com/doc/251838629/
Abstract:
This study’s aim is to explore the existence of the environmental Kuznets curve (EKC) in the case of
Thailand over the period of 1971 through 2010. The EKC relationship posits that as the economy
grows—measured by per-capita income—at the initial stage energy pollutants increase, but the pollutants
start falling after a certain threshold income has been achieved. The postulated relation produces an
inverted U-curve and has been empirically verified for many nations. The paper implements the
autoregressive distributed lags (ARDL) bounds testing approach to cointegration in the presence of
structural break for a long-run relationship among the series and the error correction mechanism for the
short-run dynamics. The results confirm cointegration among economic growth, energy consumption,
trade openness, urbanization, and energy pollutants, therefore vindicating the presence of an EKC for
Thailand. Additionally, energy consumption and trade openness add to energy emissions while
urbanization lowers it. This study provides new insights for policy makers looking for sustainable
economic growth and promoting a cleaner environment through a comprehensive economic and
environmental policy.
Keywords: economic growth, energy consumption, environmental Kuznets curve (EKC), Thailand,
autoregressive distributive lag model (ARDL)
Francisco Ebeling, “Can Oil Steer Brazil’s Social and Economic Development? An Alternative New
Institutionalist Approach,” The Journal of Energy and Development, volume 39, number 2 (spring
2014, copyright 2014), pp. 171–206.
https://www.scribd.com/doc/251839245/

Abstract:
The aim of this paper is to assess under which conditions oil and gas extraction can be an opportunity
to steer Brazil’s social and economic development. This is accomplished from the point of view of
alternative elements of new institutionalism, an exercise related to Evans’ (2006) “extension of the
‘institutional’ turn.” The first section of the paper reviews the “resource curse” literature, with particular
emphasis on its institutional phase. The second section presents a review of mainstream new
institutionalism and discusses how its alternative strands can assist in accomplishing the paper’s goal. The
subsequent sections debate popular themes of the “resource curse” literature, which are critical in order to
assess whether this “golden ticket” will be seized upon or not: the exchange rate and the “Dutch disease,”
industrialization and the diversification of the economy, the transparent distribution of revenues and
education, and politics.
Keywords: new institutionalism, resource curse, Dutch disease, political institutions, Statism, social and
economic development, contemporary institutional political economy, Brazil, Petrobras, institutional turn

Mariya Titov and Ydriss Ziane, “Price Dynamics of Propylene and Ethylene in the United States,”
The Journal of Energy and Development, volume 39, number 2 (spring 2014, copyright 2014), pp.
207–217.
https://www.scribd.com/doc/251842369/
Abstract:
In this paper we discuss why using technical analysis to forecast propylene and ethylene prices in the
United States may be of great interest, especially when it is combined with the fundamental analysis of
these materials. We chose to focus on propylene and ethylene because of the profound changes taking
place in the U.S. petrochemicals market.
Keywords: prices dynamics, propylene, ethylene, United States, technical analysis, fundamental analysis,
oil, natural gas
Cosimo Magazzino and Lorenzo Giolli, “A Time-Series Analysis of the Aggregate Income-Energy
Consumption Nexus: The Case of Italy,” The Journal of Energy and Development, volume 39,
number 2 (spring 2014, copyright 2014), pp. 219–227.
https://www.scribd.com/doc/251986480/

Abstract:
We empirically analyze the nexus between gross domestic product (GDP) and energy consumption for
the time span of 1970–2009 years for Italy using a time-series approach. After a brief introduction, we
present the discussion of the data. Stationarity tests reveal that both series are non-stationary or I(1).
Moreover, since both series show the presence of a structural break, a G r e g o r y a n d
H a n s e n cointegration test has been performed. The results show evidence of the presence of a long-run
relationship. Causality tests reveal that the “neutrality hypothesis” emerges, insomuch as the absence of a
causal relationship between energy consumption and real GDP is discovered. The impulse-response
functions’ analysis evidences that a shock to the energy consumption affects GDP for one period, but
dies out very quickly. While shocks to GDP create a smaller but significant response in energy
consumption, this effect falls to zero within a few periods. Finally, we calculate with an error-correction
model that the long-run multiplier is 0.70. The energy consumption will increase to correct the
disequilibrium, with 11 percent of the (remaining) deviation corrected in each subsequent time period. In
addition, a one-unit increase in the GDP immediately produces a 1.07-unit increase in the energy
consumption.
Keywords: energy policies, energy consumption, GDP, time series, Italy
Nadia S. Ouedraogo, “The Electricity-Growth Nexus: A Dynamic Panel Data Approach,” The
Journal of Energy and Development, volume 39, number 2 (spring 2014, copyright 2014), pp. 229–
264.
https://www.scribd.com/doc/251986812/
Abstract: This paper investigates the dynamic relationship between electricity access and economic
growth in a group of 15 developing countries in Sub-Saharan Africa by using a cointegration analysis and

an error-correction model over the period 1980 to 2008. Results suggest that a long-term equilibrium
relationship between electricity consumption per capita and real GDP per capita exists for these countries.
After the Pedroni panel cointegration tests confirm the existence of a long-term equilibrium relationship,
error-correction mechanisms plus causality tests were run as further steps to investigate the causality
between electricity consumption and economic growth. The results suggest unidirectional causality
running from electricity consumption to GDP in the long run. Overall, it can be said that policies related
to electricity consumption have an effect or relation on the level of real output in the long run for the
countries under study (Benin, Burkina Faso, Cape Verde, Ivory Coast, Gambia, Ghana, Guinea, Guinea
Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo). The documented evidence from
these countries can provide useful information for each government with regard to energy and growth
policy.
Keywords: electricity, economic growth, panel cointegration, Sub-Saharan economies, Benin, Burkina
Faso, Cape Verde, Ivory Coast, Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria,
Senegal, Sierra Leone, Togo
Jack Fuller and Matthew Robinson, “Realizing Performance and Emissions Goals in the Fluidized
Bed Combustion Industry,” The Journal of Energy and Development, volume 39, number 2 (spring
2014, copyright 2014), pp.265–278.
https://www.scribd.com/doc/251990255/
Abstract:
A major focus in the energy industry today is the reduction of harmful emissions, especially
greenhouse gases. Fossil fuel technologies offer the most reliable and effective solution to modern energy
demands, but also are considered the primary culprit behind harmful emissions. Meeting ever tighter
restrictions set forth by regulatory organizations such as the U.S. Environmental Protection Agency
requires continuous efforts to improve technology toward increased performance and reduced emissions.
The coal power plant industry is no exception. High performance Fluidized Bed Combustion (FBC) boiler
technology allows the coal industry to remain competitive in today’s difficult energy climate. The
continuous improvement efforts for FBC plants have come in the form of an extensive and ongoing
benchmark study spanning the last decade. This research paper presents the survey results and analysis of
the 2010 benchmark study and compares the data to past years. This allows the industry an important
reference tool to compare performance within the industry and identifies trends to assist industry
members in improvement efforts.
Keywords: industry benchmarking, atmospheric fluidized bed combustion, coal-fired power plants,
fluidized bed technology, power generation, coal, energy methods, environmental engineering,
sustainable development, coal