Primary Energy Demand in Korea: Substitution and Structural Change.
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| Title: | Primary Energy Demand in Korea: Substitution and Structural Change. |
|---|---|
| Authors: | Kim, Ji-Whan1 (AUTHOR), Kim, Yoon-Kyung2 (AUTHOR) yoonkkim@ewha.ac.kr |
| Source: | Energies (19961073). Apr2026, Vol. 19 Issue 8, p1980. 23p. |
| Subject Terms: | *Energy consumption, *Econometric models, *Energy policy, *Energy industries, *Elasticity (Economics), *Economic change |
| Geographic Terms: | South Korea |
| Abstract: | International energy price changes can lead energy-importing economies to adjust their input factor choices, and Korea provides a useful case given its very high dependence on imported primary energies. This study estimates a primary energy input-demand system for Korea using quarterly data from 2000 to 2021, covering coal; crude oil; natural gas; labor; and others, including non-primary energy inputs. Our analysis uses LA-AIDS specifications. Breakpoint unit-root and cointegration tests support structural change around the global financial crisis, and this shift is incorporated through period-specific parameters within a unified demand system. The compensated elasticities indicate that crude oil becomes more price sensitive after the break, while coal and natural gas become less responsive to their own prices. Cross-price relationships also change, with weaker substitution among the primary energies and greater substitution between crude oil and others. These findings suggest that the ability to adjust inputs and the economic effects of international price changes can vary over time, which should be taken into account in energy policy evaluation. [ABSTRACT FROM AUTHOR] |
| Database: | Energy & Power Source |
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| FullText | Links: – Type: pdflink Text: Availability: 1 |
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| Header | DbId: enr DbLabel: Energy & Power Source An: 193438320 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Primary Energy Demand in Korea: Substitution and Structural Change. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Kim%2C+Ji-Whan%22">Kim, Ji-Whan</searchLink><relatesTo>1</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Kim%2C+Yoon-Kyung%22">Kim, Yoon-Kyung</searchLink><relatesTo>2</relatesTo> (AUTHOR)<i> yoonkkim@ewha.ac.kr</i> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Energies+%2819961073%29%22">Energies (19961073)</searchLink>. Apr2026, Vol. 19 Issue 8, p1980. 23p. – Name: Subject Label: Subject Terms Group: Su Data: *<searchLink fieldCode="DE" term="%22Energy+consumption%22">Energy consumption</searchLink><br />*<searchLink fieldCode="DE" term="%22Econometric+models%22">Econometric models</searchLink><br />*<searchLink fieldCode="DE" term="%22Energy+policy%22">Energy policy</searchLink><br />*<searchLink fieldCode="DE" term="%22Energy+industries%22">Energy industries</searchLink><br />*<searchLink fieldCode="DE" term="%22Elasticity+%28Economics%29%22">Elasticity (Economics)</searchLink><br />*<searchLink fieldCode="DE" term="%22Economic+change%22">Economic change</searchLink> – Name: SubjectGeographic Label: Geographic Terms Group: Su Data: <searchLink fieldCode="DE" term="%22South+Korea%22">South Korea</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: International energy price changes can lead energy-importing economies to adjust their input factor choices, and Korea provides a useful case given its very high dependence on imported primary energies. This study estimates a primary energy input-demand system for Korea using quarterly data from 2000 to 2021, covering coal; crude oil; natural gas; labor; and others, including non-primary energy inputs. Our analysis uses LA-AIDS specifications. Breakpoint unit-root and cointegration tests support structural change around the global financial crisis, and this shift is incorporated through period-specific parameters within a unified demand system. The compensated elasticities indicate that crude oil becomes more price sensitive after the break, while coal and natural gas become less responsive to their own prices. Cross-price relationships also change, with weaker substitution among the primary energies and greater substitution between crude oil and others. These findings suggest that the ability to adjust inputs and the economic effects of international price changes can vary over time, which should be taken into account in energy policy evaluation. [ABSTRACT FROM AUTHOR] |
| PLink | https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=enr&AN=193438320 |
| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.3390/en19081980 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 23 StartPage: 1980 Subjects: – SubjectFull: Energy consumption Type: general – SubjectFull: Econometric models Type: general – SubjectFull: Energy policy Type: general – SubjectFull: Energy industries Type: general – SubjectFull: Elasticity (Economics) Type: general – SubjectFull: Economic change Type: general – SubjectFull: South Korea Type: general Titles: – TitleFull: Primary Energy Demand in Korea: Substitution and Structural Change. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Kim, Ji-Whan – PersonEntity: Name: NameFull: Kim, Yoon-Kyung IsPartOfRelationships: – BibEntity: Dates: – D: 15 M: 04 Text: Apr2026 Type: published Y: 2026 Identifiers: – Type: issn-print Value: 19961073 Numbering: – Type: volume Value: 19 – Type: issue Value: 8 Titles: – TitleFull: Energies (19961073) Type: main |
| ResultId | 1 |
