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Ratio Working Paper No. 336 An Austrian economic perspective on failed Chinese wind power development

PublikationWorking paper
Austrian school, China, Economic Planning, Energy, Jonas Grafström, Technology, Wind power

Sammanfattning

China is currently hailed as the world’s premier wind power producer. However, despite twice the installed wind power capacity compared to the United States in 2015, the Chinese installed capacity produces less power. Grid connectivity is remarkably low, Chinese firms have few international granted patents, and export is minimal even though production capacity far exceeds the domestic production needs. Using the tools of Austrian economics, failures in China’s wind power development from 1980-2016 is documented and analysed. From a theoretical standpoint, both a planning problem and an entrepreneurial problem is evident where governmental policies create misallocation of resources and a hampering of technological development.

Grafström, J. (2020). An Austrian economic perspective on failed Chinese wind power development. Ratio Working Paper No. 336. Stockholm: Ratio.

Liknande innehåll

Working Paper No. 379: Europe’s Future Industrial Landscape: A Green Industrial Location Attractiveness Index
Working paperPublikation
Grafström, J.
Ladda ner
Publiceringsår

2024

Publicerat i

Ratio Working Paper Series.

Sammanfattning

Increased gas prices, constraints in nuclear power generation, and diminished hydroelectric production have introduced challenges for Europe, coinciding with an emerging green industrialization. Utilizing data from the European Commission and Eurostat, we introduce the Green Industrial Location Attractiveness Index, a tool designed to help assessing locations of future green industrial developments. Our findings highlight Sweden, Finland, and France as probable destinations for green industrial projects. A revealing geographical divide where northern European countries rank higher compared to their southern counterparts. This analysis enhances our understanding of Europe’s changing industrial landscape amidst volatile electricity prices, offering insights for policymakers and investors. An overarching conclusion of the paper is that well-crafted energy policies help mitigate the economic impacts of energy price fluctuations on energy-intensive industries, ensuring that Europe’s industrial landscape remain competitive.

Economic freedom and environmental performance
BokkapitelPublikation
Graftström, J.
Publiceringsår

2024

Publicerat i

Handbook of Research on Economic Freedom. Cheltenham, UK: Edward Elgar Publishing.

Sammanfattning

In this chapter, the relationship between economic freedom and environmental performance is scrutinized. The analysis relies on comparing countries’ standing in the Environmental Performance Index (EPI) of the Yale Centre for Environmental Law & Policy with two indexes of economic freedom, one developed by the Fraser Institute (Economic Freedom of the World index), and the other by the Heritage Foundation (Index of Economic Freedom). Whether economic freedom is good or bad for the environment depends on how it affects incentives, productive efforts, and effective resource use. Greater economic freedom can both harm and help environmental performance. It is a complicated relationship, but high economic freedom generally goes hand in hand with high scores in the EPI.

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