The effect of energy prices on energy intensity improvement - the case of the chemical industry in the V4 countries

摘要

The main objective of this study is to analyse the effect of energy prices on energy intensity in the chemical industry in the V4 countries during the period 1995-2016. For this purpose, based on a panel regression model, the relationships among variables of interest are assessed. The empirical results show the adverse effect of energy prices (electricity, gas and oil) on the energy intensity. Other variables analysed (employment, gross fixed capital formation and greenhouse gases emission) negatively impact energy intensity as well.