The Impact of Financial Crisis on Electricity Demand: A Case Study of North China
AbstractThe electricity consumption and economic growth are highly correlated. The financial crisis in 2008 brought a negative effect on China’s economic growth, which also influenced the electricity consumption. The electricity demand of North China region was also greatly influenced by this financial crisis, the whole social electricity consumption growth rate of which decreased by 14.31% in 2008 compared to that in 2007. In order to analyze the random impulse effect of the financial crisis on the demand of electricity in North China, the monthly data is decomposed into deterministic trend, stochastic impact effect, and periodic trend using the Beveridge-Nelson decomposition method. After comparatively analyzing the impulse effect of the financial crisis on electricity consumption of six provinces in North China, we can draw the conclusions: (1) the electricity consumption of the whole society and the secondary industry are under larger negative impacts, and the random impulse effect of the secondary industry is more intense; and (2) the impact of the financial crisis on the tertiary industry, which is mainly influenced by seasonal changes, is smaller. Finally, some policy implications are proposed. View Full-Text
Scifeed alert for new publicationsNever miss any articles matching your research from any publisher
- Get alerts for new papers matching your research
- Find out the new papers from selected authors
- Updated daily for 49'000+ journals and 6000+ publishers
- Define your Scifeed now
Zhao, H.; Zhao, H.; Guo, S.; Li, F.; Hu, Y. The Impact of Financial Crisis on Electricity Demand: A Case Study of North China. Energies 2016, 9, 250.
Zhao H, Zhao H, Guo S, Li F, Hu Y. The Impact of Financial Crisis on Electricity Demand: A Case Study of North China. Energies. 2016; 9(4):250.Chicago/Turabian Style
Zhao, Huiru; Zhao, Haoran; Guo, Sen; Li, Fuqiang; Hu, Yuou. 2016. "The Impact of Financial Crisis on Electricity Demand: A Case Study of North China." Energies 9, no. 4: 250.
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.