Impact of Incentive Policies and Other Socio-Economic Factors on Electric Vehicle Market Share: A Panel Data Analysis from the 20 Countries
Abstract
:1. Introduction
2. Literature Review
3. Selected Incentives and Socio-Economic Factors
3.1. Fiscal Incentive
3.2. Non-Financial Incentives
3.3. Socio-Economic Factors
4. Results and Discussion
4.1. Data Collection
4.2. Dependent Variables and Independent Variables
4.2.1. Fiscal Measures
4.2.2. Non-Financial Measures
4.2.3. Socio-Economic Factors
4.3. Panel Data Model
- it is a K-dimensional vector of explanatory variables, without a constant term.
- , the intercept, is independent of i and t.
- , a (K × 1) vector, the slopes, is independent of i and t.
- , the error, varies over i and t.
5. Results and Discussion
6. Conclusions
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Acknowledgments
Conflicts of Interest
References
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Variables | Abbreviation | Description |
---|---|---|
Dependent variable | MS | National market share of EVs (numeric) [5,48] |
Independent variables | PS | Purchase subsidies (numeric) [48] |
RT | Registration tax benefits (yes/no) [48,49] | |
OT | Ownership tax benefits (yes/no) [48,49] | |
VAT | Valued added tax benefits (yes/no) [48,49] | |
CD | Charging density (yes/no) [48,50] | |
RP | Road priority (yes/no) [48] | |
WF | Waiver on fee (yes/no) [48] | |
GP | Gasoline price (numeric) [51] | |
EP | Household electricity price (numeric) [52] | |
HI | Household disposal income (numeric) [53,54] |
Countries | RT | OT | VAT | RP | WF |
---|---|---|---|---|---|
Norway | ✗ | ✓ | ✓ | ✓ | ✓ |
Iceland | ✗ | ✓ | ✓ | ✓ | ✓ |
The Netherlands | ✗ | ✓ | ✓ | ✓ | ✓ |
Sweden | ✗ | ✓ | ✗ | ✗ | ✗ |
Finland | ✓ | ✓ | ✗ | ✗ | ✗ |
Portugal | ✓ | ✓ | ✓ | ✗ | ✓ |
Switzerland | ✗ | ✓ | ✗ | ✗ | ✗ |
China | ✓ | ✓ | ✗ | ✓ | ✓ |
Austria | ✓ | ✓ | ✗ | ✗ | ✓ |
United Kingdom | ✓ | ✓ | ✗ | ✗ | ✓ |
Belgium | ✓ | ✓ | ✗ | ✗ | ✓ |
Canada | ✓ | ✓ | ✗ | ✗ | ✓ |
Denmark | ✓ | ✓ | ✗ | ✗ | ✓ |
United State | ✓ | ✗ | ✗ | ✓ | ✗ |
France | ✓ | ✓ | ✓ | ✗ | ✓ |
Germany | ✗ | ✓ | ✗ | ✓ | ✓ |
Ireland | ✓ | ✓ | ✗ | ✗ | ✓ |
Hungary | ✓ | ✓ | ✗ | ✗ | ✓ |
Spain | ✓ | ✓ | ✗ | ✗ | ✓ |
Japan | ✓ | ✓ | ✗ | ✓ | ✗ |
Dependent Variable | MS | |
---|---|---|
Independent Variables | Co-Efficient | t-Statistic |
PS | −1.431 | 0.869 |
RT | 0.142 | 0.805 |
OT | 1.781 * | 0.070 |
VAT | 0.179 | 0.715 |
CD | 0.940 *** | 0.000 |
RP | 0.182 | 0.668 |
WF | −0.279 | 0.513 |
GP | 0.001 | 0.997 |
EP | −0.279 | 0.510 |
HI | 2.157 *** | 0.000 |
Observations | 100 | |
R-squared | 0.665 | |
Prob(F-statistic) | 0.0000 |
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Xue, C.; Zhou, H.; Wu, Q.; Wu, X.; Xu, X. Impact of Incentive Policies and Other Socio-Economic Factors on Electric Vehicle Market Share: A Panel Data Analysis from the 20 Countries. Sustainability 2021, 13, 2928. https://doi.org/10.3390/su13052928
Xue C, Zhou H, Wu Q, Wu X, Xu X. Impact of Incentive Policies and Other Socio-Economic Factors on Electric Vehicle Market Share: A Panel Data Analysis from the 20 Countries. Sustainability. 2021; 13(5):2928. https://doi.org/10.3390/su13052928
Chicago/Turabian StyleXue, Chenlei, Huaguo Zhou, Qunqi Wu, Xueying Wu, and Xingbo Xu. 2021. "Impact of Incentive Policies and Other Socio-Economic Factors on Electric Vehicle Market Share: A Panel Data Analysis from the 20 Countries" Sustainability 13, no. 5: 2928. https://doi.org/10.3390/su13052928
APA StyleXue, C., Zhou, H., Wu, Q., Wu, X., & Xu, X. (2021). Impact of Incentive Policies and Other Socio-Economic Factors on Electric Vehicle Market Share: A Panel Data Analysis from the 20 Countries. Sustainability, 13(5), 2928. https://doi.org/10.3390/su13052928