Path dependence in energy systems and economic development

Fouquet, Roger (2016) Path dependence in energy systems and economic development. Nature Energy, 1. p. 16098. ISSN 2058-7546

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Abstract

Energy systems are subject to strong and long-lived path dependence, owing to technological, infrastructural, institutional and behavioural lock-ins. Yet, with the prospect of providing accessible cheap energy to stimulate economic development and reduce poverty, governments often invest in large engineering projects and subsidy policies. Here, I argue that while these may achieve their objectives, they risk locking their economies onto energy-intensive pathways. Thus, particularly when economies are industrializing, and their energy systems are being transformed and are not yet fully locked-in, policymakers should take care before directing their economies onto energy-intensive pathways that are likely to be detrimental to their long-run prosperity.

Item Type:	Article
Official URL:	http://www.nature.com/nenergy
Additional Information:	© 2016 The Author
Divisions:	Grantham Research Institute
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HC Economic History and Conditions J Political Science > JA Political science (General)
Date Deposited:	13 Jul 2016 10:48
Last Modified:	28 Nov 2024 05:30
Projects:	ES/K006576/1
Funders:	Economic and Social Research Council
URI:	http://eprints.lse.ac.uk/id/eprint/67119

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