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龚斌磊独著论文被能源经济最高期刊《Energy Journal》录用

编辑:hesx 作者: hesx 时间:2018-09-19 15:06:59 访问次数:199

浙江大学中国农村发展研究院(CARD)龚斌磊研究员独著论文“Effects of Ownership and Business Portfolio on Production in Oil and Gas Industry(所有制与业务结构对油气企业生产的影响)”被能源经济领域最高期刊《Energy Journal》录用。《Energy Journal》位列SSCI期刊经济类Q1区,影响影子2.429,是国际能源经济学会(IAEE)的旗舰刊物,年发文量50篇左右。这是龚斌磊研究员本年度的第八篇独著SSCI论文,其中一区论文六篇。该论文在2018年亚太生产率会议上作了报告。

过去十年,页岩革命和两次石油价格危机重塑了全球油气行业。同时,大型油气企业在所有制(国有和私营)和业务结构(油气比,上下游比)方面存在诸多不同。因此,本文引入变系数模型,旨在控制和测算所有制和业务结构对企业生产的多方面影响,从而更加全面的了解这场能源变革。研究表明,油气产业的投入产出关系在过去十年发生了巨大变化,这不但验证了这场变革的深远影响,也反过来肯定了利用变系数生产模型的必要性。更重要的是,本文通过公式推导,证明了经典生产模型会造成偏误,并利用油气企业数据说明了这种偏误在已有文献中如何导致错误的结论。实证结果显示,2007-2009金融危机之后,油气行业的平均生产率得到了迅速提高,但在2014年油价大跌之后出现下滑。从所有制和业务结构角度看,私营企业、天然气生产和下游产业的生产率普遍高于国有企业、石油生产和上游产业。

AbstractThe Shale Revolution and the two oil crises have overwhelmingly reshaped the petroleum industry in the last decade. Heterogeneity across companies is also a big concern as many multi-product (oil and gas) and multi-segment (upstream and downstream) firms exist, both state-owned and privately-owned. Therefore, a varying coefficient model is introduced to capture the effects of time, ownership, and business portfolio on both productivity and input elasticities to closely observe the fundamentaltransition, which is further interpreted using decomposition equations. The shape of the production function is indeed firm- and time-variant, which confirms the transition of the industry and the necessity of using the varying coefficient model.The average productivity achieved tremendous growth after the 2007–2009 financial crisis but lost momentum following the 2014 price crash. Finally, privately-owned, gas productionand downstream activities are more productive than state-owned, oil productionand upstream activities, respectively.Some policy implications are also discussed.

JEL Classification: L71D24L33O44  L25

Keywords: Stochastic Frontier Analysis; Varying Coefficient Model; Oil and Gas Industry; Effects of State Ownership; Segment-wide and Product-wide Business Portfolio.