Machines and energy. Energy capital ratios in Europe and Latin America 1875 - 1970'
Fecha
2018Versión
Acceso abierto / Sarbide irekia
Tipo
Artículo / Artikulua
Versión
Versión publicada / Argitaratu den bertsioa
Identificador del proyecto
Impacto
|
10.1080/03585522.2018.1503968
Resumen
The relationship between energy and capital is one of the most important
aspects of modern economic growth. Machines need energy to produce all
the goods we enjoy; energy would be far less useful for humankind in
absence of machines. However, the great majority of the economic
models do not take into account the elasticities of substitution (or
complementaries) between these two main variabl ...
[++]
The relationship between energy and capital is one of the most important
aspects of modern economic growth. Machines need energy to produce all
the goods we enjoy; energy would be far less useful for humankind in
absence of machines. However, the great majority of the economic
models do not take into account the elasticities of substitution (or
complementaries) between these two main variables. Actually, energy is
absent in many growth models and discussions on diverging economic
development paths. We approach this relevant issue from a new
perspective: energy and capital relations during 100 years. We use the
latest estimations of capital stock (machinery and equipment) and
energy consumption for Latin America and compare them with those of
Western Europe. The energy–capital ratio (how much energy is used per
unit of capital) could be a predictor of economic growth, thus providing
stylised facts about the timing and causes of the different modernisation
patterns of these regions and showing us some answers on the long-run
relationship between energy consumption and capital accumulation. [--]
Materias
Capital stock,
Energy,
Energy efficiency,
Latin America,
Europe
Editor
Taylor & Francis
Publicado en
Scandinavian Economic History Review 67:1, 31-46
Departamento
Universidad Pública de Navarra. Departamento de Economía /
Nafarroako Unibertsitate Publikoa. Ekonomia Saila /
Universidad Pública de Navarra/Nafarroako Unibertsitate Publikoa. Institute for Advanced Research in Business and Economics - INARBE
Versión del editor
Entidades Financiadoras
Cristián Ducoing acknowledges the funding by Comisión Nacional de Investigación Científica y Tecnológica (CONICYT),
Chile, with the project PAI:82130021 and Jan Wallanders och Tom Hedelius Stiftelse samt Tore Browaldhs
Stiftelse ‘Engines for sustainability. Horsepower prices, capital substitution and energy transitions in the long run’.
Mar Rubio acknowledges the financial support by Ministerio de Educación, Cultura y Deporte Spanish Government,
project HAR2017-86086-R.
Aparece en las colecciones
Los documentos de Academica-e están protegidos por derechos de autor con todos los derechos reservados, a no ser que se indique lo contrario.
La licencia del ítem se describe como © 2018 The Author(s). This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License, which permits non-commercial re-use, distribution, and reproduction in any medium, provided the
original work is properly cited, and is not altered, transformed, or built upon in any way.