能源价格上涨对企业层面的影响.pdf
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1、ENERGY SUBSIDY REFORM IN ACTION FIRM-LEVEL EFFECTS OF ENERGY PRICE INCREASESEvidence and Insights from Recent ResearchTECHNICAL REPORTPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedENERGY SUBSIDY REFORM IN ACTION FIRM-LEVEL EFFECTS OF
2、ENERGY PRICE INCREASESEvidence and Insights from Recent ResearchJuergen Amann,Defne Gencer,and Dirk HeineTECHNICAL REPORTABOUT ESMAPThe Energy Sector Management Assistance Program(ESMAP)is a partnership between theWorld Bank andover 20 partnersto help low-and middle-income countries reduce poverty a
3、nd boost growth through sustainable energy solutions.ESMAPs analytical and advisory services are fully integrated within the World Banks country financing and policy dialogue in the energy sector.Through the WB,ESMAP works to accelerate the energy transition required to achieveSustainable Developmen
4、t Goal 7(SDG7),which ensures access to affordable,reliable,sustainable,and modern energy for all.It helps shape WB strategies and programs to achieve theWB Climate Change Action Plantargets.Learn more at:https:/www.esmap.org.2024 June|International Bank for Reconstruction and Development/The World B
5、ank1818 H Street NW,Washington,DC 20433Telephone:202-473-1000;Internet:www.worldbank.orgSome rights reserved.ABOUT THIS SERIESThis report is part of the“Energy Subsidy Reform in Action”series produced by the ESMAP Energy Subsidy Reform Facility,with the objective of drawing insights from recent expe
6、riences and emerging approaches related to reform of energy subsidies in developing countries.The series includes issue-specific reports from various relevant domains such as energy sector reform,macroeconomic and fiscal policy,carbon pricing,poverty and distributional analysis,social protection,pol
7、itical economy,and communications.Rights and PermissionsThe material in this work is subject to copyright.Because the World Bank encourages dissemination of its knowledge,this work may be reproduced,in whole or in part,for noncommercial purposes if full attribution to this work is given.Any queries
8、on rights and licenses,including subsidiary rights,should be addressed to World Bank Publications,World Bank Group,1818 H Street NW,Washington,DC 20433,USA;fax:+1-202-522-2625;e-mail:pubrightsworldbank.org.Furthermore,the ESMAP Program Manager would appreciate receiving a copy of the publication tha
9、t uses this publication for its source sent in care of the address above,or to esmapworldbank.org.This work is available under the Creative Commons Attribution 3.0 IGO license(CC BY 3.0 IGO)http:/creativecommons.org/licenses/by/3.0/igo.Under the Creative Commons Attribution license,you are free to c
10、opy,distribute,transmit,and adapt this work,including for commercial purposes,under the following conditions:AttributionJuergen Amann,Defne Gencer,and Dirk Heine.2024.Firm-Level Effects of Energy Price Increases:Evidence and Insights from Recent Research.Energy Subsidy Reform in Action Series.ESMAP
11、Technical Report.Washington,DC:World Bank.License:Creative Commons Attribution CC BY 3.0 IGO.Third-Party ContentThe World Bank does not necessarily own each component of the content contained within the work and does not warrant that the use of any third-party owned individual component or part cont
12、ained in the work will not infringe on the rights of those third parties.If you wish to reuse a component of the work,it is your responsibility to determine whether permission is needed for that reuse and to obtain permission from the copyright owner.Examples of components can include,but are not li
13、mited to,tables,figures,or images.Production CreditsDesigner|Laura C.JohnsoniiiCONTENTSContentsAcknowledgments vExecutive Summary vi1 Introduction xx1.1.Background and First Principles 21.2.What Do Microdata Say about Firm-Level Impacts of Energy Price Changes?41.3.Firm-Level Response Mechanisms to
14、Policy-Induced Energy Price Changes 52 A Summary of the Literature 122.1.Pass-Through 152.2.Absorption 172.3.Substitution 222.4.Innovation and Productivity 243 The Importance of Careful Policy Design 324 Areas for Future Work 34References 37ivLIST OF FIGURESList of FiguresFIGURE 1.1 Firm-Level Respo
15、nse Framework 6FIGURE 2.1 Scope and Coverage of Review 14vACKNOWLEDGMENTSAcknowledgmentsThis report was prepared by staff and consultants of the World Bank and the Energy Sector Management Assistance Program(ESMAP).The underlying analysis was funded by ESMAPs Energy Subsidy Reform Facility.The main
16、authors are Juergen Amann,Defne Gencer,and Dirk Heine.The authors would like to acknowledge colleagues who were involved in different stages of the study,in particular Min A Lee,Noe Reidt,and Tanja Larsen.The production of the report benefited from support from Sherrie Brown for editing services,Lau
17、ra Johnson for design,and Heather Austin for publications.The authors are particularly grateful to Massimiliano Cali and Paolo Agnolucci,who served as peer reviewers and whose inputs and advice helped strengthen the analysis and the final report.Any errors of interpretation are the sole responsibili
18、ty of the authors.The authors would like to recognize Demetrios Papathanasiou,Global Director for Energy and Extractives,and Chandrasekar Govindarajalu,Manager of ESMAP,for providing the guidance,encouragement,and resources for this work.EXECUTIVE SUMMARYviExecutive SummaryEnergy is a critical facto
19、r of production for firms,and energy subsidies encourage excessive and inefficient energy use.When the government subsidizes any specific input,firms decisions regarding the optimal mix of input factors to produce output are distorted,which can reduce economic efficiency:reducing the price of one pa
20、rticular input encourages firms to use more of it per unit of output,distorting both the amount and the way a good is produced.1 Reforming energy subsidies can help address distortions and misplaced incentives for firms to overuse energy and can encourage firms to allocate production inputs more eff
21、iciently.The complex topic of how firms are affected by and respond to policy-induced energy price increases had not been extensively explored in research and the academic literature until recently.In the past few years,more evidence and studies exploring this subject have become available.To better
22、 understand emerging knowledge and evidence in this field,this report reviews a selection of the academic and empirical literature on the firm-level impacts of energy price increases published from 2010 onward.The recent empirical literature shows that the impact of energy price increases and firms
23、responses to them depend on multiple factors.These factors include the firms energy dependence,the magnitude of the changes in price levels,and the availability of options the firm can use to adapt and reduce energy consumption in response to price signals.Firms have several response mechanisms at t
24、heir disposal when confronted with policy-driven energy price increases.Firms typically navigate policy-induced energy price changes by(1)passing the price increase on to customers;(2)absorbing the price increase;(3)replacing one energy carrier2 with others,or changing the relative shares of energy
25、and other inputs;or(4)using firm-level capacity that drives innovation and productivity.The empirical literature identifies substantial cost pass-through by firms in response to energy price increases.Research consistently demonstrates that increased costs stemming from energy price reforms are ofte
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