Regulating effect of the energy market—Theoretical and empirical analysis based on a novel energy prices–energy supply–economic growth dynamic system》.pdf

Applied Energy 155 (2015) 526–546 Contents lists available at ScienceDirect Applied Energy journal homepage: /locate/apenergy Regulating effect of the energy market—Theoretical and empirical analysis based on a novel energy prices–energy supply–economic growth dynamic system Minggang Wang, Lixin Tian ⇑ School of Mathematical Science, Nanjing Normal University, Nanjing 210042, Jiangsu, China Center for Energy Development and Environment Protection Strategy Research, Jiangsu University, Zhenjiang 212013, China h i g h l i g h t s A novel non-linear system of energy prices, supply and economic growth is proposed. Dynamic behaviors of the system and its subsystems are analyzed. The evolving paths of the system under different control strategies are obtained. The effects of control strength on energy intensity are described vividly. The effects of different control strategies on energy intensity are obtained. a r t i c l e i n f o a b s t r a c t Article history: It is known that the invisible hand – energy market can reflect the energy price. Follow this perspective, a Received 29 January 2015 net structure that every element can conduct mutually has been founded based on the causal relationships Received in revised form 6 May 2015 among energy price, energy supply and economic growth during a given economic period. Furthermore, a Accepted 1 June 2015 novel dynamic system model of energy price–energy supply–economic growth which can make sure the Available online 26 June 2015