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Analysis of Renewable Energy Policy Effects in OECD Countries Using Granger Causality and Cointegration Test
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Granger Causality 검정과 공적분 검정을 통한 OECD 국가 재생에너지정책 효과 분석

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Type
Academic journal
Author
Chung Jae-Kwan (해양수산부) MOON KWAGNMIN (충남대학교)
Journal
The Korea Institute of Public Administration 한국행정연구 한국행정연구 제30권 제3호 KCI Accredited Journals
Published
2021.9
Pages
61 - 100 (40page)

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Analysis of Renewable Energy Policy Effects in OECD Countries Using Granger Causality and Cointegration Test
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In recent times, countries around the world have been concentrating their policy resources on the development and wider deployment of renewable energy as part of efforts to reduce greenhouse gas emissions to address climate change and to secure new growth engines for the future. Accordingly, a number of studies have been conducted thus far to analyze the effectiveness of related policies. However, existing studies leave much room for improvement as they, in many cases, lack analysis on the effects of interactions among different policies, interdependence of those policies and short- and long-term effects of those policies while examining panel data analysis. For this reason, this study aimed at more effective policy analysis by using policy measures being taken by 25 OECD member countries as key variables and by making similar policies as composit policy variables, respectively. At the same time, it also tried to assess the implementation of policies introduced by countries in question. The findings of this study include: First, Tax related policies was found to be a strong contributor to the development and wider use of renewable energy in the short term, but not effective in the long term; Second, price-based policies including Feed in Tariff (FIT) programs as well as investment and subsidy schemes were proved to be not so much effective in the short term, but to have very positive impact in the long term; and Third, it was found that quantity-based policies including Renewable Portfolio Standards (RPS) did not have meaningful impact on the development and dissemination of renewable energy. The results of this study have demonstrated the effectiveness of policies undertaken by countries around the world through practical and empirical analysis, and it is also expected to provide adequate directions for policy-makers in formulating more effective renewable energy policy.
#재생에너지 #정책효과 #그랜저 인과성 분석 #공적분 추정 #Renewable energy policy #Policy effects #Granger casuality test #Cointegration test

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구민교 / 2013 / 우리나라의 발전차액지원제도 사례 분석: 신산업정책론 시각에서 / 한국행정연구 22(1):1~27 Crossref 권태형 / 2015 / 신재생에너지 지원 정책과 지대추구: 국내 발전차액지원제도와 공급의무화제도 사례 / 행정논총 53(2):295~314 google schola 권태형 / 2018 / 한국의 신재생에너지 정책에서 시장과 규제의 적절한 활용방안 연구 / 경제발전연구 24(2):1~26 Crossref 김다은 / 2017 / 정책수단이 재생에너지 활성화에 미치는 영향에 관한 실증연구: 정책수단과 정부효과성의 상호작용을 중심으로 / 한국행정학보 51(2):33~59 Crossref 김보례 / 2015 / 패널 VAR를 이용한 부가가치 기준 무역과 경제성장과의 인과관계 분석 / 국제통상연구 20(1):123~154 google schola

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