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Autor
Estevão João (Universidade de Lisboa, Portugal), Raposo Clara (Universidade de Lisboa, Portugal), Lopes José Dias (Universidade de Lisboa, Portugal)
Tytuł
The Paris Agreement and Electricity Markets Outside the EU
Źródło
Contemporary Economics, 2018, vol. 12, nr 4, s. 419-432, tab., bibliogr. 40 poz.
Tytuł własny numeru
Digital Transformations and Value Creation in International Markets
Słowa kluczowe
Rynek energetyczny, Przemysł elektroenergetyczny, Ceny energii
Energy market, Electricity industry, Energy prices
Uwagi
Klasyfikacja JEL: F68, G18, K32, P28, P48, Q43, Q58
summ.
The authors acknowledge financial support from FCTFundação para a Ciência e Tecnologia (Portugal), national funding through research grant (UID/SOC/04521/2013).
Abstrakt
Climate change has been at the center of economic and social discussion for some years. The passage of time has intensified this debate and reflection. A well-known relevant event in this domain was the signature of the Paris Agreement in 2014, and its subsequent enforcement by European Union (EU) member countries. This study examines if the climate change measures adopted by the Agreement had an impact on the electricity sector outside the EU28, seeking to assess whether there is international diversity in these markets or if they work uniformly at global level. The goal of this work is to study the behavior of spot electricity prices before and after the Agreement was signed by EU members, analyze its effect in terms of spot prices, and determine the conditions that lead to stability and non-stability. We examine the behavior of spot electricity prices in two different electricity markets: the US and Brazil. The study applies both qualitative methodologies, namely fsQCA, and quantitative methodology, in order to identify changes in the pattern of electricity price behavior with the advent of the Agreement. Arguably, regulatory theory still incorporates the effects of the emergence of global dynamics in the regulation process. However, what this article suggests is that changes in regulatory frameworks with global impact, even if exogenous to a specific market, can profoundly alter the dynamics of that market. (original abstract)
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Bibliografia
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Cytowane przez
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ISSN
2084-0845
Język
eng
URI / DOI
http://dx.doi.org/10.5709/ce.1897-9254.287
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