Residential College | false |
Status | 已發表Published |
Market-driven coal prices and state-administered electricity prices in China | |
Ming-Hua Liu1; Dimitris Margaritis2; Yang Zhang1 | |
2013-11 | |
Source Publication | Energy Economics |
ABS Journal Level | 3 |
ISSN | 0140-9883 |
Volume | 40Pages:167-175 |
Abstract | This paper analyzes how the Chinese government adjusts electricity prices for both industrial and residential users in response to changes in coal prices using an asymmetric error correction model. Our results show that there is a long-term relation between the coal price and electricity prices but the relationship is weak especially for residential pricing. In the short run, we find electricity prices are adjusting faster upwards than downwards. Price adjustment towards long-run equilibrium is faster for residential users upwards than downwards. On the other hand, we find no evidence of asymmetric equilibrium adjustment in the electricity price for industrial use. The weak long-term relationship reflects the rigidity in electricity pricing and government's reluctance to subject end users to fluctuations of raw materials cost shifts. |
Keyword | Asymmetric Adjustment China Coal Price Electricity Prices Error Correction Model |
DOI | 10.1016/j.eneco.2013.05.021 |
URL | View the original |
Indexed By | SSCI |
Language | 英語English |
WOS Research Area | Business & Economics |
WOS Subject | Economics |
WOS ID | WOS:000329081300016 |
Publisher | ELSEVIERRADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS |
The Source to Article | Scopus |
Scopus ID | 2-s2.0-84880993869 |
Fulltext Access | |
Citation statistics | |
Document Type | Journal article |
Collection | Faculty of Business Administration DEPARTMENT OF FINANCE AND BUSINESS ECONOMICS |
Corresponding Author | Ming-Hua Liu |
Affiliation | 1.Faculty of Business Administration, University of Macau, Macao 2.University of Auckland Business School, Auckland, New Zealand |
First Author Affilication | Faculty of Business Administration |
Corresponding Author Affilication | Faculty of Business Administration |
Recommended Citation GB/T 7714 | Ming-Hua Liu,Dimitris Margaritis,Yang Zhang. Market-driven coal prices and state-administered electricity prices in China[J]. Energy Economics, 2013, 40, 167-175. |
APA | Ming-Hua Liu., Dimitris Margaritis., & Yang Zhang (2013). Market-driven coal prices and state-administered electricity prices in China. Energy Economics, 40, 167-175. |
MLA | Ming-Hua Liu,et al."Market-driven coal prices and state-administered electricity prices in China".Energy Economics 40(2013):167-175. |
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