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Increase supplies, increase efficiency: evidence of causality between the quantity and quality of energy consumption and economic growth (RV of 2008/62/ISIC)

Author: Warr, Benjamin ; Ayres, Robert U. ; Williams, EricINSEAD Area: Economics and Political Science Series: Working Paper ; 2009/22/EPS/ISIC (revised version of 2008/62/ISIC) Publisher: Fontainebleau : INSEAD Social Innovation Centre (ISIC) 2009.Language: EnglishDescription: 27 p.Type of document: INSEAD Working Paper Online Access: Click here Abstract: For much of the last century Japan experienced one of the fastest rates of economic growth worldwide. In this paper we argue that one of the main drivers of this growth was the successful introduction of new technologies which have significantly improved the efficiency with which energy has been converted into useful ‘energy services’ delivered to the economy. We describe an economy wide fuel exergy database which illustrates the transition in the structure of Japan’s energy supply, dominant energy conversion technologies and principal end-uses over the past century. We present a theory of growth that compliments the descriptive Rostow model of ‘staged development’ but extends it quantitatively enabling us to reproduce historical growth trends through consideration of the amount and way in which energy is used by society. From this complimentary perspective we summarise the role of resource scarcity as a major driver of technological progress in energy conversion technologies. We highlight the importance of dynamic and co-evolving government intervention to promote the development of increasingly resource productive and efficient systems of production and consumption. Previous title: Either increase supplies or increase efficiency: evidence of causality between the quantity and quality of energy consumption and economic g - Warr, Benjamin S.;Ayres, Robert U. - 2008 - INSEAD Working Paper
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For much of the last century Japan experienced one of the fastest rates of economic growth worldwide. In this paper we argue that one of the main drivers of this growth was the successful introduction of new technologies which have significantly improved the efficiency with which energy has been converted into useful ‘energy services’ delivered to the economy. We describe an economy wide fuel exergy database which illustrates the transition in the structure of Japan’s energy supply, dominant energy conversion technologies and principal end-uses over the past century. We present a theory of growth that compliments the descriptive Rostow model of ‘staged development’ but extends it quantitatively enabling us to reproduce historical growth trends through consideration of the amount and way in which energy is used by society. From this complimentary perspective we summarise the role of resource scarcity as a major driver of technological progress in energy conversion technologies. We highlight the importance of dynamic and co-evolving government intervention to promote the development of increasingly resource productive and efficient systems of production and consumption.

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