ANNOUNCEMENTS
Energy is the primary engine of socioeconomic development, productivity, and economic expansion. For the support of industrial operations, transportation systems, etc., access to dependable, inexpensive, and environmentally friendly energy sources is essential. The fast-moving economy is highly dependent on conventional sources of energy, especially coal. However, due to the harmful effects of conventional energy sources on the environment, countries are shifting their energy mixes to renewable energy sources.
With globalization and complex GVCs, there is a rising interdependence among nations. Due to this interdependence, international trade has the power to sabotage the efforts made by countries to reduce energy use at a global level by importing energy-intensive goods rather than producing them in their own country.
This study aims to find out the energy embodied in the trade of the manufacturing sector of the top coal-powered countries and renewable energy-powered countries and then find out the driving factor for that change.
Keywords: Input Output Analysis, Decomposition Analysis, International Trade, Energy Embodied.
