Abstract

Globalization has integrated nations into a world economy. Based on the world input-output database (WIOD), this paper explored the energy use of the world economy under a household-consumption-based MRIO (multi-region input-output) accounting scheme. Pertaining to normative economics, the household-consumption-based MRIO accounting scheme corresponds to the value judgement of household consumption being the ultimate driver of the economy, which complements existing accounting methods based on different viewpoints. The energy use associated with the internationally traded products is calculated to be around one-fifth of the global total energy consumption. For China as the largest exporter and also the biggest deficit economy in terms of energy use, its trade imbalance is nearly the summation of that of the United States, the United Kingdom, Japan and Germany. Energy self-sufficiency rates by supply and by demand are respectively proposed. While the United States economy as the largest importer maintains the majority of the energy welfare denoted by the onsite energy use at home, China exports large quantities of energy use abroad. For economies like Germany, South Korea and Taiwan, they could be regarded as hubs that export a considerable amount of energy use abroad and absorb massive energy use from outside simultaneously. For sustainable use of energy resources, economies are suggested to carefully identify their roles in the global trading network of energy use.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.