Adaptability, diversification, and energy shocks: A firm level productivity analysis

• Tipo: Artigo em Revista Científica Internacional
• Data: 2024

Autores

Henriques S.T. (Autor) FEP; Sharp P. (Autor) Outra; Tsoukli X. (Autor) Outra; Vedel C. (Autor) Outra

Revista

Título: Energy Economics

Vol. 139

ISSN: 0140-9883

Editora: Elsevier

Indexação

ISI Web of Knowledge - 0 Citações

Scopus - 1 Citação

Outras Informações

ID Authenticus: P-017-3P8

DOI: 10.1016/j.eneco.2024.107887

Abstract (EN): Energy economists have long argued that energy systems need to be adaptable in the face of shocks. In the early twentieth century, Denmark embodied the opposite, with its industry almost entirely dependent on imports of coal from the UK. Towards the end of the First World War, however, and well into the 1920s, coal imports became expensive and more difficult to obtain. Local diversification was possible, however, through peat. We exploit detailed microlevel data from butter factories, covering the period 1900¿28. Employing an event study approach, we find significant productivity advantages for firms closer to available peat fields in the wake of the coal shortage, and that these gains persisted even when peat was no longer used. Our results thus suggest that public policy might aim to support adaptability for firms less able to transition to more sustainable energy if that is the price of longer-term efficiency and survival.

Idioma: Inglês

Tipo (Avaliação Docente): Científica