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Youngho Chang; Qiang Ji; Dayong Zhang. Green finance and energy policy: Obstacles, opportunities, and options. Energy Policy 2021, 157, 112497 .
AMA StyleYoungho Chang, Qiang Ji, Dayong Zhang. Green finance and energy policy: Obstacles, opportunities, and options. Energy Policy. 2021; 157 ():112497.
Chicago/Turabian StyleYoungho Chang; Qiang Ji; Dayong Zhang. 2021. "Green finance and energy policy: Obstacles, opportunities, and options." Energy Policy 157, no. : 112497.
This chapter documents and reviews studies in environmental decision-making in the framework of the applied general equilibrium analysis. The applied general equilibrium has been widely used in the research of environmental decision-making, such as the evaluation of the welfare change and the corresponding cost incurred by the environmental regulations, or the assessment of the emissions trading schemes adopted within a region that contains multiple countries and multiple sectors. The applied general equilibrium analysis has been extended to international trade to explore how to set a border tax on imported goods or to provide subsidies on exported goods in an environmental regulation setting. Linking the applied general equilibrium methodologies to the popular research topics in environmental decision-making and the corresponding regulation tools together, this chapter presents a critical review of the literature in the areas of applied general equilibrium and environmental decision-making for the past ten years. Out of 243 studies screened from keywords search, 104 studies were selected for review. Neither empirical studies nor studies with a theoretical game framework were selected for review. This chapter presents a review of studies in terms of the employed methodologies by three dimensions – the functional type, the time horizon, and the model randomness. It also presents discussions of studies by research topics and environmental policy instruments that were chosen and analyzed. It concludes with suggesting potential research areas in the future.
Di Yin; Youngho Chang. Applied General Equilibrium in Environmental Decision-Making. Sustainability and Environmental Decision Making 2021, 187 -215.
AMA StyleDi Yin, Youngho Chang. Applied General Equilibrium in Environmental Decision-Making. Sustainability and Environmental Decision Making. 2021; ():187-215.
Chicago/Turabian StyleDi Yin; Youngho Chang. 2021. "Applied General Equilibrium in Environmental Decision-Making." Sustainability and Environmental Decision Making , no. : 187-215.
This paper aims to explore various possibilities in the evolving global gas market by constructing game-theoretical models involving the major players: Russia and Qatar exporting gas to the Asia-Pacific and Europe, respectively. We explore a series of hypothetical scenarios based on competitive and collusive settings for the Asia-Pacific LNG market and based on Qatar’s export route to the European gas market. The scenarios that are examined are (1) Russia as the follower and Qatar as the leader in a Stackelberg game; (2) Russia and Qatar as Cournot competitors; (3) collaboration between Russia and Qatar as bilateral monopolies; (4) Qatar exporting gas to European borders; (5) Qatar exporting gas to the last transit country; and (6) Qatar transporting gas to the Turkish border under a multi-pricing scheme. Demand is estimated under each scenario to simulate the respective export volumes, prices and quantities, and profit in each scenario. By exploring these market interactions, we find that it is essential for Russia to strike a deal with Qatar in the Asian market and accelerate their gas production in order to compete as an LNG market leader. Russia is likely to benefit more if it can link with Qatar to act as a monopoly on their segmental demand curve. On the other hand, Qatar’s profit is expected to be higher under the scenario when Qatar sells all the gas to the last transit country as the sole demand point instead of passing through transit countries.
Youngho Chang; Dang Thi Quynh Trang; Tsiat Siong Tan; Farhad Taghizadeh-Hesary. Competition and cooperation in the natural gas market: a game-theoretic demand-base analysis. Asia Europe Journal 2021, 1 -29.
AMA StyleYoungho Chang, Dang Thi Quynh Trang, Tsiat Siong Tan, Farhad Taghizadeh-Hesary. Competition and cooperation in the natural gas market: a game-theoretic demand-base analysis. Asia Europe Journal. 2021; ():1-29.
Chicago/Turabian StyleYoungho Chang; Dang Thi Quynh Trang; Tsiat Siong Tan; Farhad Taghizadeh-Hesary. 2021. "Competition and cooperation in the natural gas market: a game-theoretic demand-base analysis." Asia Europe Journal , no. : 1-29.
This study examines whether and how harnessing more wind energy can decrease the cost of meeting the demand for electricity and amount of carbon emissions in the Association for Southeast Asian Nations (ASEAN) region, using the ASEAN integrated electricity trade model. Three scenarios are considered: a counterfactual business-as-usual (BAU) scenario, which assumes no wind energy is used; an actual BAU scenario that uses the wind-generation capacity in 2018; and a REmap scenario, which employs the wind-generation capacity from the Renewable Energy Outlook for ASEAN. Simulation results suggest that dispatching more wind energy decreases the cost of meeting the demand for electricity and amount of carbon emissions. However, these emissions increase during the late years of the study period, as the no- or low-emitting energy-generation technologies are crowded out.
Youngho Chang; Han Phoumin. Harnessing Wind Energy Potential in ASEAN: Modelling and Policy Implications. Sustainability 2021, 13, 4279 .
AMA StyleYoungho Chang, Han Phoumin. Harnessing Wind Energy Potential in ASEAN: Modelling and Policy Implications. Sustainability. 2021; 13 (8):4279.
Chicago/Turabian StyleYoungho Chang; Han Phoumin. 2021. "Harnessing Wind Energy Potential in ASEAN: Modelling and Policy Implications." Sustainability 13, no. 8: 4279.
Generally, public spending on education, research, and development (R&D) is perceived to impact the economy and sustainability positively; however, such notion lacks evidence, particularly in Belt and Road Initiative (BRI) member countries. In this study, panel data of BRI member countries from 2008 to 2018 is analysed using the generalized method of moments (GMM) method and data envelopement analysis (DEA) to assess the relationship between public spending on R&D and green economic growth and energy efficiency. The study found a fluctuating green economic growth indicator during the research period attributed to the non-serious nature of government policies. The findings reveal that the GMM method confirms both composition and technique effects in the entire sample. Nonetheless, the result of the sub-sample showed a heterogeneous effect on high GDP per capita countries. Moreover, the study shows that public spending on human resources and R&D of green energy technologies prompts a sustainable green economy through labour and technology-oriented production activities and different effects in different countries.
Dongyang Zhang; Muhammad Mohsin; Abdul Khaliq Rasheed; Youngho Chang; Farhad Taghizadeh-Hesary. Public spending and green economic growth in BRI region: Mediating role of green finance. Energy Policy 2021, 153, 112256 .
AMA StyleDongyang Zhang, Muhammad Mohsin, Abdul Khaliq Rasheed, Youngho Chang, Farhad Taghizadeh-Hesary. Public spending and green economic growth in BRI region: Mediating role of green finance. Energy Policy. 2021; 153 ():112256.
Chicago/Turabian StyleDongyang Zhang; Muhammad Mohsin; Abdul Khaliq Rasheed; Youngho Chang; Farhad Taghizadeh-Hesary. 2021. "Public spending and green economic growth in BRI region: Mediating role of green finance." Energy Policy 153, no. : 112256.
The Singapore economy is characterised by a strong interventionist government and planning. It showed ‘plan and market’ in a creative partnership in which government control, export-oriented manufacturing, government direction of the labor market, state-owned enterprises and government-forced saving co-exist and help the economy excel and prosper. A supply-side analysis showed that foreign talent through employment passes and work permits were an integral building block for the economic success and contributed 41% of GDP in the 1990s (Ministry of Trade and Industry 2001).
Dawn Chow Yi Lin; Youngho Chang. State-Owned Enterprises in Singapore: Performance and Policy Recommendations. Monetary Policy and the Oil Market 2021, 275 -295.
AMA StyleDawn Chow Yi Lin, Youngho Chang. State-Owned Enterprises in Singapore: Performance and Policy Recommendations. Monetary Policy and the Oil Market. 2021; ():275-295.
Chicago/Turabian StyleDawn Chow Yi Lin; Youngho Chang. 2021. "State-Owned Enterprises in Singapore: Performance and Policy Recommendations." Monetary Policy and the Oil Market , no. : 275-295.
This chapter documents and reviews studies in environmental decision-making in the framework of the applied general equilibrium analysis. The applied general equilibrium has been widely used in the research of environmental decision-making, such as the evaluation of the welfare change and the corresponding cost incurred by the environmental regulations, or the assessment of the emissions trading schemes adopted within a region that contains multiple countries and multiple sectors. The applied general equilibrium analysis has been extended to international trade to explore how to set a border tax on imported goods or to provide subsidies on exported goods in an environmental regulation setting. Linking the applied general equilibrium methodologies to the popular research topics in environmental decision-making and the corresponding regulation tools together, this chapter presents a critical review of the literature in the areas of applied general equilibrium and environmental decision-making for the past ten years. Out of 243 studies screened from keywords search, 104 studies were selected for review. Neither empirical studies nor studies with a theoretical game framework were selected for review. This chapter presents a review of studies in terms of the employed methodologies by three dimensions – the functional type, the time horizon, and the model randomness. It also presents discussions of studies by research topics and environmental policy instruments that were chosen and analyzed. It concludes with suggesting potential research areas in the future.
Di Yin; Youngho Chang. Applied General Equilibrium in Environmental Decision-Making. Sustainability and Environmental Decision Making 2020, 1 -29.
AMA StyleDi Yin, Youngho Chang. Applied General Equilibrium in Environmental Decision-Making. Sustainability and Environmental Decision Making. 2020; ():1-29.
Chicago/Turabian StyleDi Yin; Youngho Chang. 2020. "Applied General Equilibrium in Environmental Decision-Making." Sustainability and Environmental Decision Making , no. : 1-29.
Pakistan imports nearly a third of its energy resources in the form of oil, coal and Liquefied Natural Gas (LNG). An import-driven energy policy is not sustainable for Pakistan, making it energy insecure in the long-term. Besides being a drain on its foreign exchange reserves, it exposes the economy to international energy price shocks putting the entire economy at risk through inflation. Inflationary pressures reduce the competitiveness of the country's exports which further constrain the economy's capacity to pay for energy imports. This paper analyzes Pakistan's energy security under the 4-A framework over the six-years period 2011–2017. The 4-As methodology attempts to measure and illustrate graphically the change in the energy security of a region by mapping it on to four dimensions – namely availability, applicability, acceptability, and affordability. The analysis indicates that Pakistan's energy security improved initially over the first three years but then deteriorated over the next three years. Despite significant investments in energy infrastructure over the last five years, Pakistan continues to be energy insecure. This paper recommends immediate and rapid adoption of green energy solutions like distributed solar and smart metering and increased conservation efforts like developing and implementing building insulation standards to turn the tide on energy insecurity.
Sadia Malik; Maha Qasim; Hasan Saeed; Youngho Chang; Farhad Taghizadeh-Hesary. Energy security in Pakistan: Perspectives and policy implications from a quantitative analysis. Energy Policy 2020, 144, 111552 .
AMA StyleSadia Malik, Maha Qasim, Hasan Saeed, Youngho Chang, Farhad Taghizadeh-Hesary. Energy security in Pakistan: Perspectives and policy implications from a quantitative analysis. Energy Policy. 2020; 144 ():111552.
Chicago/Turabian StyleSadia Malik; Maha Qasim; Hasan Saeed; Youngho Chang; Farhad Taghizadeh-Hesary. 2020. "Energy security in Pakistan: Perspectives and policy implications from a quantitative analysis." Energy Policy 144, no. : 111552.
Energy insecurity has been a critical challenge facing Asia's economic growth. This study constructs a comprehensive index for energy insecurity as well as examines its trend using a sample of 24 selected Asian countries during the 1990–2014 period. For this purpose, principal component analysis is applied to a series of 12 selected variables. The variables are standardized using different techniques including z-score, min-max and softmax normalization. Three different measures of energy insecurity are created accordingly. The empirical results depict the trend of increasing energy insecurity in Bangladesh, China, India, Indonesia, Malaysia, Nepal, Pakistan, Saudi Arabia, Sri Lanka, Thailand and Vietnam. On the other hand, the trend of fluctuating but recently improving energy security was observed in Hong Kong, Japan, Mongolia, Singapore, South Korea, and United Arab Emirates. Meanwhile, the trend of fluctuating but recently increasing energy insecurity was found in Iran, Iraq, Jordan, Kazakhstan, Lebanon, and Tajikistan. These findings are robust to all three measures of energy insecurity.
Thai-Ha Le; Youngho Chang; Farhad Taghizadeh-Hesary; Naoyuki Yoshino. Energy insecurity in Asia: A multi-dimensional analysis. Economic Modelling 2019, 83, 84 -95.
AMA StyleThai-Ha Le, Youngho Chang, Farhad Taghizadeh-Hesary, Naoyuki Yoshino. Energy insecurity in Asia: A multi-dimensional analysis. Economic Modelling. 2019; 83 ():84-95.
Chicago/Turabian StyleThai-Ha Le; Youngho Chang; Farhad Taghizadeh-Hesary; Naoyuki Yoshino. 2019. "Energy insecurity in Asia: A multi-dimensional analysis." Economic Modelling 83, no. : 84-95.
Despite progresses achieved in several directions, Indian electricity sector continues to suffer from multiple anomalies that might endanger the energy security of the country. It is pertinent at this juncture to ask the question whether the sector is moving on a sustainable growth trajectory. Using a sustainable development framework, the present study evaluates how sustainable the Indian electricity sector is. It employs 11 indicators representing three dimensions of sustainable development i.e. economic, environmental and social and analyses 12 Indian states over a decade period. The findings of study suggest that the sector is moving towards sustainability though deviations exist in the performance of individual states and individual dimensions. The economic dimension shows a non-linear trend with multiple ups and downs. The environmental dimension indicates first a falling trend up to 2005-06 and rising sharply thereafter. The social dimension reveals a declining trend during the initial periods of the study and picking up in the last few years. Feed-in tariff policy of the Indian government is found to be successful in improving the electricity accessibility and diversifying the electricity supply and raising share of renewable energy which are in line with higher energy security goals.
Gopal K. Sarangi; Arabinda Mishra; Youngho Chang; Farhad Taghizadeh-Hesary. Indian electricity sector, energy security and sustainability: An empirical assessment. Energy Policy 2019, 135, 110964 .
AMA StyleGopal K. Sarangi, Arabinda Mishra, Youngho Chang, Farhad Taghizadeh-Hesary. Indian electricity sector, energy security and sustainability: An empirical assessment. Energy Policy. 2019; 135 ():110964.
Chicago/Turabian StyleGopal K. Sarangi; Arabinda Mishra; Youngho Chang; Farhad Taghizadeh-Hesary. 2019. "Indian electricity sector, energy security and sustainability: An empirical assessment." Energy Policy 135, no. : 110964.
Green finance or green bonds have gained a strong momentum in the world. Some Asian countries such as the People’s Republic of China and Japan are very active in green finance. This chapter reviews how green finance in Singapore is working, examines existing barriers, and suggests some solutions. Singapore, a well-established financial hub in Asia, aims to be a hub in green finance in Asia. The Monetary Authority of Singapore (MAS), the central bank of Singapore, has formed a network with other seven central banks in the world called “Central Banks and Supervisors Network for Greening Financial System”, which intends to promote sharing of experiences and best practices in green finance with other countries. Along with the forming the network, the MAS has established a Green Bond Grant scheme to promote and ensure the issuance of green bond in Singapore. In parallel, the Association of Banks in Singapore (ABS) published Guidelines on Responsible Financing to promote and support environmental, social, and governance (ESG) disclosures. The Singapore Exchange (SGX) asks its member firms to strictly comply with the ESG disclosures. At an individual firm level in Singapore, City Developments Limited (CDL), a real estate developing company, and Development Bank of Singapore Limited (DBS), a commercial bank, issued Singapore’s first and second green bonds in 2017. The proceeds of the CDL Green Bond are allocated to finance retrofitting and upgrading of a commercial building in Singapore while the proceeds of the DBS Green Bond are to invest in renewable energy and climate change adaptation, among others. How successful the two green bonds meet their pronounced goals and how well and effectively they contribute to the diffusion of renewable energy remains to be seen.
Youngho Chang. Green Finance in Singapore. Handbook of Green Finance 2019, 659 -674.
AMA StyleYoungho Chang. Green Finance in Singapore. Handbook of Green Finance. 2019; ():659-674.
Chicago/Turabian StyleYoungho Chang. 2019. "Green Finance in Singapore." Handbook of Green Finance , no. : 659-674.
Electrification of road transport (or electric mobility) has progressed beyond the demonstration stage, with many Association of Southeast Asian Nations (ASEAN) members increasingly interested in it. This study starts with a survey of all ASEAN countries' vehicle fleets, fuel consumption and share, fuel mix in power generation, among others. The potential of electrifying fleets, including passenger vehicles, buses, and trucks – the main consumers of fossil fuel in road transport – is estimated in 2040 scenarios. How electric mobility enhances energy security is assessed using the 4A framework: availability, applicability, acceptability, and affordability of energy. The findings reveal intensive interaction of electrification of road transport with the introduction of higher fuel economy standards and higher integration of renewable energy into the power sector.
Yanfei Li; Youngho Chang. Road transport electrification and energy security in the Association of Southeast Asian Nations: Quantitative analysis and policy implications. Energy Policy 2019, 129, 805 -815.
AMA StyleYanfei Li, Youngho Chang. Road transport electrification and energy security in the Association of Southeast Asian Nations: Quantitative analysis and policy implications. Energy Policy. 2019; 129 ():805-815.
Chicago/Turabian StyleYanfei Li; Youngho Chang. 2019. "Road transport electrification and energy security in the Association of Southeast Asian Nations: Quantitative analysis and policy implications." Energy Policy 129, no. : 805-815.
Green finance or green bonds have gained a strong momentum in the world. Some Asian countries such as the People’s Republic of China and Japan are very active in green finance. This chapter reviews how green finance in Singapore is working, examines existing barriers, and suggests some solutions. Singapore, a well-established financial hub in Asia, aims to be a hub in green finance in Asia. The Monetary Authority of Singapore (MAS), the central bank of Singapore, has formed a network with other seven central banks in the world called “Central Banks and Supervisors Network for Greening Financial System”, which intends to promote sharing of experiences and best practices in green finance with other countries. Along with the forming the network, the MAS has established a Green Bond Grant scheme to promote and ensure the issuance of green bond in Singapore. In parallel, the Association of Banks in Singapore (ABS) published Guidelines on Responsible Financing to promote and support environmental, social, and governance (ESG) disclosures. The Singapore Exchange (SGX) asks its member firms to strictly comply with the ESG disclosures. At an individual firm level in Singapore, City Developments Limited (CDL), a real estate developing company, and Development Bank of Singapore Limited (DBS), a commercial bank, issued Singapore’s first and second green bonds in 2017. The proceeds of the CDL Green Bond are allocated to finance retrofitting and upgrading of a commercial building in Singapore while the proceeds of the DBS Green Bond are to invest in renewable energy and climate change adaptation, among others. How successful the two green bonds meet their pronounced goals and how well and effectively they contribute to the diffusion of renewable energy remains to be seen.
Youngho Chang. Green Finance in Singapore. Handbook of Green Finance 2019, 1 -17.
AMA StyleYoungho Chang. Green Finance in Singapore. Handbook of Green Finance. 2019; ():1-17.
Chicago/Turabian StyleYoungho Chang. 2019. "Green Finance in Singapore." Handbook of Green Finance , no. : 1-17.
Research on countries’ sustainable development has called for more complete assessments of sustainability. Indeed, integrated studies coupling human and natural systems reveal new and complex patterns and processes not evident when studied in isolation. In line with the need to construct an index that takes into account a more holistic notion of sustainability, this study investigates the overall sustainable development of a metropolis through three dimensions, population, productivity and parity, and takes Singapore as a case study. We incorporate these three dimensions in our construction of a total sustainability index. We find that the population dimension has remained relatively unchanged, while the productivity dimension has gradually moved towards sustainability. The parity dimension has moved towards sustainability before 2002, but it shows ups and downs until 2012 when an upward trend toward sustainability appeared again. Results from this study imply that the government should pay attention to controlling the size of the population of temporary residents, and increasing the government budget for the environment.
Youngho Chang; Zheng Fang; Shigeyuki Hamori; Dawn Chow. A Sustainable Metropolis: Perspectives of Population, Productivity and Parity. Sustainability 2018, 10, 4264 .
AMA StyleYoungho Chang, Zheng Fang, Shigeyuki Hamori, Dawn Chow. A Sustainable Metropolis: Perspectives of Population, Productivity and Parity. Sustainability. 2018; 10 (11):4264.
Chicago/Turabian StyleYoungho Chang; Zheng Fang; Shigeyuki Hamori; Dawn Chow. 2018. "A Sustainable Metropolis: Perspectives of Population, Productivity and Parity." Sustainability 10, no. 11: 4264.
The ASEAN Power Grid (APG) is the grand plan for an integrated regional power grid system in Southeast Asia designed to benefit its member countries by optimizing the use of energy resources. In this paper, we study how to fairly distribute the benefit of the APG to its member countries by focusing on the Greater Mekong Subregion (GMS), which includes Cambodia, Laos, Myanmar, Thailand, and Vietnam. Using data from two different years, 2012 and 2020, we analyze 12 scenarios with different combinations of the generation and the transmission capacities together with the maximum percentage of power trade allowed. We propose to allocate the total cost saving of the GMS by using the Myerson (1977) value. We show that the resulting Myerson value allocation from the 2020 plan satisfies two stability properties: (1) core stability, which implies that it belongs to the core when the core is nonempty, so that no country has an incentive to leave the APG, and (2) pairwise stability, which implies that no country has an incentive to add a new transmission line or delete an existing transmission line.
Yunji Her; Youngho Chang; Youngsub Chun; Yanfei Li. A cooperative game theoretic approach on the stability of the ASEAN power grid. Energy Economics 2018, 75, 492 -502.
AMA StyleYunji Her, Youngho Chang, Youngsub Chun, Yanfei Li. A cooperative game theoretic approach on the stability of the ASEAN power grid. Energy Economics. 2018; 75 ():492-502.
Chicago/Turabian StyleYunji Her; Youngho Chang; Youngsub Chun; Yanfei Li. 2018. "A cooperative game theoretic approach on the stability of the ASEAN power grid." Energy Economics 75, no. : 492-502.
This study aims to examine how “One Country, Two Systems” has shaped and influenced the collaboration on cross-boundary air pollution control between the governments of the Hong Kong Special Administrative Region and the Guangdong province. The presence of the Chinese central government significantly fostered the start of this collaboration, but the implementation and collaborative relationship were relatively weak and unsustainable due to the two local governments’ largely different interests, goals and political demands. We found that the emphasis on “One Country” especially after 2003 led to the signature of more joint agreements in comparison with what the emphasis on “Two Systems” did between 1997 and 2003. Joint agreements appear to be necessary conditions for effective collaboration, but too many of them without satisfying implementation could have resulted in less concrete benefits. A balanced stress on “One Country” and “Two Systems” might bring an appropriate number of joint agreements with good implementation for more effective collaboration.
Ting Yin Tiffany Wong; Yuan Xu; Youngho Chang. CROSS-BOUNDARY AIR POLLUTION CONTROL UNDER “ONE COUNTRY, TWO SYSTEMS”: PERSPECTIVES FROM HONG KONG–GUANGDONG COLLABORATION. The Singapore Economic Review 2017, 65, 601 -625.
AMA StyleTing Yin Tiffany Wong, Yuan Xu, Youngho Chang. CROSS-BOUNDARY AIR POLLUTION CONTROL UNDER “ONE COUNTRY, TWO SYSTEMS”: PERSPECTIVES FROM HONG KONG–GUANGDONG COLLABORATION. The Singapore Economic Review. 2017; 65 (3):601-625.
Chicago/Turabian StyleTing Yin Tiffany Wong; Yuan Xu; Youngho Chang. 2017. "CROSS-BOUNDARY AIR POLLUTION CONTROL UNDER “ONE COUNTRY, TWO SYSTEMS”: PERSPECTIVES FROM HONG KONG–GUANGDONG COLLABORATION." The Singapore Economic Review 65, no. 3: 601-625.