Title: Research and development, welfare and efficiency: an Australian energy perspective

Authors: Sardar M.N. Islam; Peter Sheehan

Addresses: Centre for Strategic Economic Studies, Victoria University of Technology, City Campus, P.O. Box. 14428, Melbourne City MC, Victoria 8001, Australia ' Centre for Strategic Economic Studies, Victoria University of Technology, City Campus, P.O. Box. 14428, Melbourne City MC, Victoria 8001, Australia

Abstract: This paper uses a dynamic multi-level optimisation model to provide evidence for the proposition that policy interventions, which may include support for R&D, are required in the Australian energy sector to maximize economic welfare. The optimum research and development strategies emerging from the model results, emphasise work on energy conservation and efficient energy conversion techniques. These strategies are consistent with the underlying energy policy stance adopted in the Australian economy over the past decade.

Keywords: research and development; R&D; energy economics; multi-level optimisation; economic welfare; efficiency; Australia; policy interventions; energy policy; energy conservation; energy conversion.

DOI: 10.1504/IJGEI.1998.071440

International Journal of Global Energy Issues, 1998 Vol.11 No.1/2/3/4, pp.155 - 161

Published online: 27 Aug 2015 *

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