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- Title
Assessing the Impact of Trade Barriers on Energy Use in Turbulent Times: Current Conditions and Future Outlook for Greece.
- Authors
Bertsatos, Gerassimos; Tsounis, Nicholas
- Abstract
This paper develops a multi-sector computable general equilibrium (CGE) model with specific features for Greece and the non-EU Rest of the World (RoW). The novelty of this work stems from the lack of energy-focused CGE models for Greece in the current literature. The study's objective is to determine how the Greek economy would react if a 30% import tariff and a quota of 67% on energy imports and 35% on remaining imports were implemented. Furthermore, if quotas and tariffs are in force, the Greek economy will initiate countermeasures by increasing investment in renewable energies through substitution and a 35% subsidy. To quantify this, the 2015 Input-Output (I-O) table for Greece and the non-EU RoW was used. To offer a better understanding, the 36 production sectors have been divided into Agriculture, Energy, Manufacturing, and Services. The quota scenario resulted in a reduction in all sectors in domestic production in terms of output and domestic uses, with some sectors experiencing around a 30% reduction. Renewable energy investments, on the other hand, have proven to be effective for domestic production, increasing output and domestic uses by (6.561%) and (7.886%), respectively. In terms of import tariffs, prices have increased, resulting in a significant decrease in household consumption that exceeds 30% in several sectors. Finally, policy recommendations for addressing these trade barriers and Greece's renewable energy opportunities are proposed.
- Subjects
GREECE; TRADE regulation; ENERGY consumption; CONSUMPTION (Economics); ACTIVATION energy; IMPORT quotas
- Publication
Energies (19961073), 2023, Vol 16, Issue 15, p5806
- ISSN
1996-1073
- Publication type
Article
- DOI
10.3390/en16155806