Quantum analogy-based derivation of an energy efficiency parameter and panel data analysis with a conventional energy efficiency indicator

We provide theoretical insights using an Econophysics approach to develop an enhanced metric that better captures energy efficiency. We also conduct panel data econometrics analysis to examine the commonly used proxy for energy efficiency in the literature, the inverse of energy intensity. Using panel data from 1980 to 2022, the analysis includes developed countries, emerging economies, and frontier market economies. Dynamic correlations are estimated using the CS-ARDL framework, with CCEMG and AMG estimators employed as robustness checks.