Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2023 International Conference on Management Research and Economic Development
Series Vol. 19 , 13 September 2023
Open
Access | Article
New Energy Vehicles under the Volatility of International Energy Prices: Evidence from Regional Conflict
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Abstract
Russia and Ukraine engaged in a military battle on February 24, 2022. Russia's military actions are viewed as an act of aggression toward Ukraine by the United States, the United Kingdom, the European Union, and other nations. The global energy crisis brought on by the onset of conflict and international sanctions is unavoidably having an influence on the new energy vehicle industry because Russia is the most significant producer and exporter of oil in the world. This article will use the counterfactual framework built by ARIMA model to study and analyze the impact of the Russian-Ukrainian conflict on the new energy vehicle industry. In conclusion, in short term, the cost effect dominates, and in long term, substitution effect dominates. This paper innovatively uses an index to examine the relationship between the Russian-Ukrainian conflict and the new energy vehicle industry. And it provides reference advice for government policy-making and investor portfolio selection. Government should vigorously develop the new energy industry, while investors should consider increasing the proportion of investment in new energy vehicles.
Keywords
new energy vehicles, Russia, Ukraine, petroleum, ARIMA model
References
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4. Council of the European Union. (2022) EU sanctions against Russia explained. https://www.consilium.europa.eu/en/policies/sanctions/restrictive-measures-against-russia-over-ukraine/sanctions-against-russia-explained/#sanctions.
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11. Sean Ross. (2022) What Are the Main Substitutes for Oil and Gas Energy?. https://www.investopedia.com/ask/answers/060415/what-are-main-substitutes-oil-and-gas-energy.asp
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2023 International Conference on Management Research and Economic Development
- ISBN (Print)
- 978-1-915371-81-2
- ISBN (Online)
- 978-1-915371-82-9
- Published Date
- 13 September 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/19/20230107
- Copyright
- 13 September 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited