Rabindra Nepal

University of Wollongong | UOW · Accountancy Economics and Finance

This paper aims to investigate the often poorly explored link between power sector reforms and wider institutional reforms in the economy across different groups of transition countries. We use panel-data econometrics based on bias corrected dynamic fixed effect analysis (LSDVC) to assess the impact of reforms on macroeconomic and power sector outc...

We examine the risk transmission mechanisms in the interconnected Australian National Electricity Market (NEM). We illustrate that the transmission of extreme events in terms of their magnitude (via skewness) and the likelihood of their occurrence (via kurtosis) should be considered when promoting NEM interconnectedness. Our empirical findings sugg...

Non-OECD Asian economies comprise about 34% of world primary energy demand, 60% of population and 65% of the world's poor, and will account for more than 60% of the total increase in energy consumption between 2015 and 2040. Energy sector reforms in non-OECD Asia are thus significant for global energy use, sustainability and socio-economic welfare....

The detrimental impact of natural disasters on inequality is evident, yet their influence on the inequality of carbon emissions remains underexplored. Addressing this gap is crucial, as understanding the relationship between natural disasters and carbon inequality can inform more equitable climate policies. To this end, we performed an econometric...

When the issues of gender equality and environmental protection become hot topics in society, exploring the influence of corporate gender diversity culture on corporate greenwashing can satisfy societal demands and corporate development. This paper examines the impact of corporate executive gender diversity culture (CEGDC) on corporate greenwashing...

The global call for augmented financial support to satisfy the growing requirements for adaptation funding, essential for enabling vulnerable groups to withstand the ramifications of climate change, has been resonant. Channeling energy assistance to developing countries may serve to ameliorate this shortfall. Through an empirical analysis using a b...

The energy sector in many developing nations faces the difficulty of insufficient financing throughout the low-carbon transition, highlighting the importance of international green financing in alleviating financial constraints. The advancement of digital technology could facilitate green financing for energy transition in the digital economy, but...

Book DOI https://doi.org/10.1142/13725

In the process of global climate finance, the perspective of climate justice, especially distributive justice, has received widespread attention. However, how this principle is implemented in the practice of climate finance is still a topic that deserves in-depth discussion. Accordingly, this study aims to empirically examine the impact of climate...

The importance of green finance policies, particularly in the realm of innovation in renewable energy technologies , should not be overlooked while assessing the advancement of renewable energy development in China. The objective of this study is to investigate the impact of green finance reform initiatives on the promotion of renewable energy tech...

With the rapid development of the digital economy in China, the Information and Communication Technology (ICT) sector has become increasingly crucial for the country's economic growth and carbon dioxide (CO2) emissions. Thus, we adopt the environmentally expanded multi-regional input-output (MRIO) model to assess embodied CO2 emissions in China's I...

As China's energy development undergoes a process from qualitative improvements to quantitative changes, high-quality energy development (HED) has become a vital strategy of the Chinese government. As a representative of emerging technologies, artificial intelligence (AI) can effectively promote clean energy transition, strengthen energy security,...

Carbon emissions, a fast-moving environmental problem, is truly becoming an overarching international financial sensation. The carbon emission challenges faced during the COVID-19 and Russia Ukraine War adversely affected forex market. This paper attempts to unravel the frequency co-movement of carbon emissions with forex market. We consider daily...

This paper assesses the role of renewable energy policy in solar photovoltaic energy supply. Cross-country findings are based on cross-sectional regressions and panel analysis including fixed effects and multiple approaches to give robust standard errors for within-group and cross-sectional dependence, showing that a composite renewable energy poli...

ASEAN economies such as Malaysia and Vietnam have ambitions of establishing liberalized and fully competitive wholesale electricity markets. However, skyrocketing natural gas prices have exposed the vulnerability that liberalized markets globally face from external energy price shocks. ASEAN also has a target of increasing the renewable energy shar...

This chapter examines Indonesia and Vietnam’s experiences with adopting utility-scale solar power, finding that despite landscape pressures, such as the need to address energy security concerns and policy commitments to emissions reduction, challenges in local contexts and incumbent electricity regime often hindering translating these pressures int...

Achieving carbon neutrality will require multiple approaches to decarbonizing greenhouse gas emissions across all sectors. Accordingly, this study investigates the maximum contributions of solar and wind deployments together with energy storage potentials with the objective of changing such deployments from intermittent supply to more stable load b...

This chapter assesses the present status of India’s Cross Border Electricity Trade (CBET) with partners Nepal, Bhutan, Bangladesh, and Myanmar, and its effects on energy security. A mathematical model, consisting of source, trade, and result functions, was developed based on simple energy balance with and without CBET. In the first scenario, India...

Indonesia has committed to achieving net zero emissions by 2060, with emphasis on the electricity sector eliminating harmful gas emissions by that year. Using the Balmorel energy model, this study simulated the impact of the target on optimal capacity expansion, electricity production mix, emissions, and electricity supply costs across 230 grid sys...

Despite widespread employment of digital technologies in renewable energy generating, transmitting, distribution, storage, and pricing, there is a lack of empirical investigation into the effects of digital technologies on renewable energy development. In this context, this paper estimates the influence of digital technologies on renewable energy m...

Exploring the connectedness and time-varying attributes of conventional and new energy markets is crucial to the green-oriented transition of energy. This investigation performs bootstrap full-and sub-sample techniques to explore the correlation between the oil and lithium markets, and further probe whether lithium could threaten the status of oil....

In the backdrop of the recent covid-19 pandemic there is a renewed interest to understand the interlinkages between dirty and clean energies. In this regard, the study examines the co-movement structure between clean energy stocks and dirty energies before and during the covid-19 outbreak. The study analyses the interlinkages between the underlying...

Two electricity market crises following the lifting of post-Covid restrictions in 2021 and the natural gas supply interruptions in 2022, challenged the functioning of the EU electricity market and its design. This paper argues that the market design was already ripe for an overhaul as the efficient market paradigm has gradually given way to as inst...

A fundamental environmental concern that calls for urgent action is limiting carbon emissions globally and lessening the pernicious effects of climate change. Australia aims to cut carbon emissions by 26–28% from 2005 levels by 2030. Carbon pricing can be a powerful market-based economic tool for reducing carbon emissions and mitigating climate cha...

The sole role of greenfield investment as a source for inducing greater environmental performance is debatable. This chapter investigates the linkages between greenfield investments, economic growth, and the role of institutional quality in environmental performance of all Asian countries between 2000 and 2018. The recently developed Environmental...

The small island economy of Papua New Guinea (PNG) is facing severe electricity shortages and is therefore turning to implementing broader power sector reforms as a vehicle to attract private capital and investments in electricity generation. This study, based on a case-study approach, revisits the reform progress and plans in the electricity secto...

This book combines the fundamentals of industrial organization theories based on microeconomic foundations, applied econometrics and environmental and natural resource economics in undertaking a comprehensive review of reforms of the power sector and its impact on industrial and socio-economic performance. The book provides the reader with the inte...

Several developing countries have attempted to reduce liquefied petroleum gas (LPG) imports and subsidies by shifting from the use of LPG to electric stoves. In Indonesia, the LPG subsidy reached US$ 4.9 billion and LPG imports increased to 6.3 million tonnes in 2021. Our study aims to analyse the feasibility of an induction cooker program in Indon...

Developing economies and emerging markets worldwide are set to experience a significant increase in their electricity system financing needs as their electricity demand expands alongside their ambitions for increased regional electricity trade—all of which is underpinned by an ongoing process of power sector reform. However, in this context, they f...

The supply of reliable and affordable electricity has become imperative in most production and household activities in modern society. No country has progressed after subsistence extent without guaranteeing the least electricity level. Many developing and emerging countries have started implementing reform initiatives around the electricity market...

The importance of the power sector to the ASEAN economies in delivering improved socio-economic prosperity is undeniable. Therefore, reforms in the power sector and their role in guiding the energy policy trilemma of affordability, sustainability, and security of supply should be studied properly. This chapter quantitatively examines the socio-econ...

The reform of the power sector is one of the widely pursued energy policy in developing economies with core objectives around improving socio-economic outcomes. The empirical evidence, however, has not quantified the reform impacts separating the effects of common factors such as drivers of reforms among reforming countries. This is the first study...

Research commissioned by Energy Consumers Australia on behalf of the AER's Consumer Reference Group for making the Rate of Return Instrument 2022. Report addresses issues identified in the report by the Independent Panel on the 2018 process. Report available at https://www.aer.gov.au/system/files/CRG%20-%20Advice%20Draft%20RoRI%20Attach%203a%20UoW%...

This is the first study to use discrete choice experiment in exploring the stated choice preference of blended learning preference among the university students in the context of Bangladesh. As a pre-requisite in developing student engagement learning strategies, we investigate the choice preference of university students towards different types of...

Against the backdrop of the COVID-19 pandemic, the study explores the hedging and safe-haven potential of green bonds for conventional equity, fixed income, commodity, and forex investments. We employ the cross-quantilogram approach to understand better the dynamic relationship between two assets under different market conditions. Our full sample r...

Greater use of household solar-panel systems has the potential to improve energy access and affordability while reducing the risk of climate change. This article uses a survey of 6,000 households in Nepal, a developing economy, to enhance understanding of the factors driving solar-system uptake by households. A key contribution is the breadth of an...

Australian National Electricity Market (NEM) provides efficient and smooth electricity transmission via a unique integration mechanism of different Australian regional electricity markets. We, therefore, examined the asymmetric time-frequency connectedness across five physically interconnected Australian regional electricity markets in the NEM usin...

Reducing carbon dioxide emissions is crucial for reducing the danger posed by climate change. There are factors for and against democracies in achieving these desired reductions. Using data from 150 countries, we estimate the marginal emission intensity (i.e., the change in per-capita carbon dioxide emissions for a unit change in per-capita income)...

Research commissioned by the South Australian Productivity Commission on future wholesale and retail electricity prices under Integrated System Plan scenarios. Report available at https://www.sapc.sa.gov.au/inquiries/inquiries/south-australias-renewable-energy-competitiveness/commissioned-research-to-support-the-inquiry/Question-D-Wholesale-and-ret...

Research commissioned by the South Australian Productivity Commission on future spot price vlatility under Integrated System Plan scenarios. Report available at https://www.sapc.sa.gov.au/inquiries/inquiries/south-australias-renewable-energy-competitiveness/commissioned-research-to-support-the-inquiry/Question-C-Projections-of-spot-price-volatility...

The purpose of this study was to examine the influence of student engagement dimensions on cognitive and affective learning by varying case teaching approaches (teacher-led and student-led) and by observation. Our study was longitudinal in nature; we surveyed students enrolled in a postgraduate leadership course twice during the semester using a Li...

With many studies highlighting the heterogeneous impact of the COVID-19 pandemic on different commodity markets, this study provides evidence of quantile connectedness between energy, metals, and agriculture commodity markets before and during the COVID-19 outbreak. Since mean-based measures of connectedness are not necessarily suitable to measure...

The current study examines the risk transmission between green markets and commodities spanning 3 January 2011 to 20 June 2021. We use two novel methodologies of volatility transmission using dynamic conditional correlation (DCC-GARCH) and the other time-varying parameters vector autoregression (TVP-VAR) technique of connectedness. We found paralle...

The current study examines the risk transmission between green markets and commodities spanning 3 January 2011 to 20 June 2021. We use two novel methodologies of volatility transmission using dynamic conditional correlation (DCC-GARCH) and the other time-varying parameters vector autoregression (TVP-VAR) technique of connectedness. We found paralle...

We investigate tourism-led Dutch Disease in the selected South Asian countries with data covering from 1980 to 2018 as no studies have been done from the South Asian perspective. We use recently developed robust panel econometric methods for this empirical analysis. Our results reveal that concerning variables have long-run cointegrating relationsh...

Greater uptake of solar panels on rental housing would have implications for housing affordability and would reduce greenhouse gas emissions. The influence of energy investments on housing values has been widely studied, with past research often finding a positive relationship. However, there is missing knowledge for the specific relationship betwe...

This paper examines the impacts of China's administrative approval reform on the pro- ductivity of firms in the energy industry, using the establishment of the Administrative Approval Bureau (AAB) as a quasi-natural experiment. We apply event study strategy to exploit the dynamic treatment effects as the setting time of the AAB varies across cities...

This article investigates the effect of fossil fuel-fired power plant locations on the value of neighbourhood properties in the state of New South Wales, Australia. Fossil fuels account for a significant proportion of electricity generation in Australia. Thus, there are growing community concerns regarding the possible negative environmental effect...

This study investigates the impact of foreign direct investment on industrial energy intensity by incorporating economic growth, energy prices, industrial value-added, and carbon emissions in the South Asian countries for the period 1990–2018. We employ panel fully modified ordinary least square and dynamic ordinary least square. Our empirical resu...

Energy efficiency can boost economic growth and reduce greenhouse gas (GHG) emissions. However, the global rate of energy efficiency improvement is slowing-a trend that has implications for consumers, businesses and the environment as the adverse climate change and pollution impacts deepen. The emissions in the EU have decreased by 17% in the past...

This paper is one of the limited studies to investigate rebound effects in sectoral electricity consumption and the specific case of New Zealand. New Zealand, like other OECD economies, has aimed for energy efficiency improvements and reduced electricity consumption from 9.2 MWh per capita in 2010 to 8.6 MWh per capita in 2015. However, following a...

Southeast Asia faces one of the fastest growths in energy demand in the world, driven by increasing incomes, urbanisation, and industrialisation. The development and deployment of green energy technologies offer a natural conduit to meet the growing energy needs in the Association of Southeast Asian Nations (ASEAN). This chapter undertakes a case s...

Environmental problem is a great concern world-wide which has been researched from various angles, including via the environmental Kuznets curve (EKC) hypothesis. EKC shows a hypothesized inverted U-shaped relationship between economic growth and environmental quality. As the severity of problem grows with industrial activities, this paper explores...

Uneven electrification can be a source of welfare disparity. Given the recent progress of electrification in India, we analyze the differences in access and reliability of electric- ity, and its impact on household welfare for marginalized and dominant social groups by caste and religion. We carry out longitudinal analysis from a national survey, 2...

We examine the effect of player-transfers entered into by football clubs owned, or financed, by individuals who are key players in the oil market on abnormal returns in oil futures. In oil-financed football clubs, the sums expended buying players frequently far exceeds the amount received from selling players in the player-transfer market. We find...

This zip file contains the data and replication codes for 'When Pep Comes Calling'

Hedonic models of housing prices face the risk of omitted variable bias due to the challenge of controlling for all relevant property attributes. The level of household financial assets is a key but underexplored control that may help to account for some of these difficult‐to‐observe property characteristics. Using large Australian household survey...

Following Sadorsky (Energy Economics, 2011, 33, 739), we examine the nexus between energy and trade in South Asia in a panel framework using annual data from 1990 to 2015. Given the cross‐sectional dependency issue, we use robust second‐generation panel econometric methods for the analysis. We find that variables are stationary at the first differe...

Increased clean energy production from household solar panels is a potentially vital. component of a sustainable energy transition and decarbonisation that can reduce carbon dioxide emissions from many countries. This paper investigates multiple channels of wealth effects on household solar-panel uptake. There is evidence of impacts of both financi...

This study examines the effects of the rule of law on carbon-dioxide emissions using a large sample of countries for over a century. In principal, the turning point of the Environmental Kuznets Curve (EKC) is compared for a range of countries lying between autocracy and democracy. Using decadal data for 220 years (1790-2010) and 150 countries, we u...

This study moves beyond counting electrified households as the policy consensus on electrification and examines the effect of reliability of electricity on household’s welfare in India. We analyze two household surveys covering the period from 2005-2018, and examine the effect of additional hours of electricity using panel fixed effects instrumenta...

This paper examines relationships between household level livelihood improvement, perceived linkages between livelihood improvement and nature conservation efforts, and attitude to protected area management. Questionnaire interviews conducted with household heads (HH) in Nepal’s Annapurna Conservation Area (ACA) focused on perceived livelihood impr...

This study analyses markets for wholesale electricity that implement uniform-price auctions. We study a model with marginal cost-based regulatory pricing framework where the marginal cost of electricity generation is decreasing. The energy-capacity wholesale electricity market of Western Australia (WEM) is analysed for this purpose. Wholesale marke...

The paper documents the asymmetric relationship between green bonds and commodities via the cross-quantilogram approach. Given the heterogeneity nature of individual commodities, we employ three commodity key groups, including energy, metals, and agriculture. As expected, the empirical evidence highlights the asymmetric behaviors of green bonds in...

Southeast Asia faces one of the fastest growths in electricity demand in the world, driven by increasing incomes, urbanization and industrialization. Development and deployment of green energy technologies offer a natural conduit to meet the growing electricity needs of the Association of Southeast Asian Economies (ASEAN) region while also serving...

India is one of the world's largest emerging economies and, therefore, has a critical role to play in ensuring global sustainability, while the Indian economy is also prioritizing energy security. The paper explores the dynamic linkages between energy security captured through national-level energy use, foreign direct investment (FDI), economic out...

Against the backdrop of the Covid-19 pandemic, this study explores the hedging and safe-haven potential of green bonds for conventional equity, fixed income, commodity, and forex investments. We use the cross-quantilogram approach that provides a better understanding of the dynamic relationship between assets under different market conditions. Our...

Uneven electrification can be a source of welfare disparity. Given the recent progress of electrification in India, we analyze the differences in access and reliability of electricity, and its impact on household welfare for marginalized and dominant social groups by caste and religion. We carry out longitudinal analysis from a national survey, 200...