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An analysis of the energy intensity of Latin American and Caribbean countries: Empirical evidence on the role of public and private capital stock

机译：拉丁美洲和加勒比国家能源强度分析：公共和私人资本股作用的经验证据

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摘要

In this study, we analysed the role of public and private capital stock in the energy intensity of 21 Latin American and Caribbean (LAC) countries from 1970 to 2014. The empirical analysis of this study was based on three methodologies, namely: 1) the panel autoregressive distributed lag (P-ARDL) model; 2) the log t regression test method and the club clustering algorithm, and 3) the ordered-logit regression model. The results from our analysis indicated that, although the decreasing trend of LAC energy intensity, the public and private capital stocks did not contribute to this trend, given that they seem to have had an enhancing effect on long-run LAC energy intensity. We also identified the existence of four convergence in terms of energy intensity, with different transition paths and different levels. By the ordered logit estimation, we found that neither the public nor private capital stocks are determinant in club convergence/formation. The overall conclusion is that LAC governments should increase investment in more energy-efficient equipment and infrastructure. This should be done at the same time as they create, or improve, the laws and the regulatory framework regarding energy efficiency, and create incentives to allow private physical capital to follow the same tendency.
机译：在这项研究中，我们分析了1970年至2014年21种拉丁美洲和加勒比地区（LAC）国家的公共和私人资本库存的作用。本研究的实证分析基于三种方法，即：1）面板自回归分布式滞后（P-ARDL）模型; 2）日志T回归测试方法和俱乐部聚类算法，以及3）订购日志回归模型。我们分析的结果表明，虽然Lac能量强度的趋势降低，但公众和私人资本股没有促进这一趋势，因为它们似乎对长期的Lac能量强度进行了增强影响。我们还确定了在能量强度方面存在四个会聚，具有不同的过渡路径和不同的水平。通过订购的Logit估计，我们发现公共和私人资本库存都不是俱乐部收敛/地层的决定因素。整体结论是Lac政府应该增加对更节能的设备和基础设施的投资。这应该与他们创造或改进，法律和监管框架同时进行，并创造允许私人体力遵循相同趋势的激励措施。

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