Economic complexity and energy vulnerability: Does ESG performance matter?

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dc.contributor.authorOngan, Serdar
dc.contributor.authorKuziboev, Bekhzod
dc.contributor.authorMakhmudov, Samariddin
dc.contributor.authorMatyakubova, Aziza
dc.contributor.authorImamoglu, Ilyas Kays
dc.contributor.authorAydin, Rahman
dc.contributor.authorIsik, Cem
dc.date.accessioned2026-09-01T15:52:37Z
dc.date.available2026-09-01T15:52:37Z
dc.date.issued2026
dc.departmentBayburt Üniversitesi
dc.description.abstractEnergy vulnerability is a critical concern for achieving energy security and meeting the SDGs. However, the role of economic complexity, which represents a country's production and export diversification, in energy vulnerability has been largely neglected in the literature. This study fills this gap by examining the impact of economic complexity on energy vulnerability for 69 developing countries over the period 2000-2019. For this purpose, MMQR and various instrumental variable (IV) estimation techniques (IV-Quantile, 2SLS, Lewbel, and Kiviet) were used. In addition, ESG indicators were included in the model as instrumental variables to address potential endogeneity issues between economic complexity and energy vulnerability. In doing so, the ESG indicators are also included in the model as instrumental variables to control for the endogeneity of economic complexity. Empirical findings show that economic complexity is associated with lower energy vulnerability across all quantiles. These results reveal that countries with diversified economic structures (higher economic complexity) may be more resilient to energy shocks. Therefore, developing countries should focus on structural reforms and improve their ESG performances to reduce energy vulnerability. In terms of control variables, financial development, digitalization, and human capital are associated with lower energy vulnerability, whereas increases in natural resource revenues are sometimes associated with lower vulnerability levels. This finding suggests that, in the context of energy vulnerability, the predictions of the resource curse theory may not be observed in every case.
dc.description.sponsorshipTUBITAK of Turkiye -- Bekhzod Kuziboev expresses his gratitude to TUBITAK of Turkiye for funding his research stay in Ege University, Turkiye.
dc.identifier.doi10.1080/15567249.2026.2697276
dc.identifier.issn1556-7249
dc.identifier.issn1556-7257
dc.identifier.issue1
dc.identifier.scopus2-s2.0-105045216935
dc.identifier.scopusqualityQ2
dc.identifier.urihttp://dx.doi.org/10.1080/15567249.2026.2697276
dc.identifier.urihttps://hdl.handle.net/20.500.12403/8503
dc.identifier.volume21
dc.identifier.wosWOS:001812731000001
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherTaylor & Francis Inc
dc.relation.ispartofEnergy Sources Part B-Economics Planning and Policy
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_WOS_20260820
dc.subjectEconomic Complexity
dc.subjectEnergy Vulnerability
dc.subjectEsg
dc.subjectMmqr
dc.subjectIv Quantile Regression
dc.titleEconomic complexity and energy vulnerability: Does ESG performance matter?
dc.typeArticle

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