The linkage between energy consumption and income in six emerging economies of Asia: an empirical analysis

Article

Rafiq, Shuddhasattwa and Salim, Ruhul A.. 2011. "The linkage between energy consumption and income in six emerging economies of Asia: an empirical analysis." International Journal of Emerging Markets. 6 (1), pp. 50-73. https://doi.org/10.1108/17468801111104377
Article Title

The linkage between energy consumption and income in six emerging economies of Asia: an empirical analysis

ERA Journal ID36140
Article CategoryArticle
AuthorsRafiq, Shuddhasattwa (Author) and Salim, Ruhul A. (Author)
Journal TitleInternational Journal of Emerging Markets
Journal Citation6 (1), pp. 50-73
Number of Pages24
Year2011
Place of PublicationBingley, United Kingdom
ISSN1746-8809
1746-8817
Digital Object Identifier (DOI)https://doi.org/10.1108/17468801111104377
Web Address (URL)http://www.emeraldinsight.com/1746-8809.htm
Abstract

This article examines the short- and long-run causal relationship between energy consumption and GDP of six emerging economies of Asia. Based on cointegration and vector error correction modeling the empirical results show that there exists unidirectional short- and long-run causality running from energy consumption to GDP for China, uni-directional short-run causality from output to energy consumption for India, whilst bi-directional short-run causality for Thailand. Neutrality between energy consumption and income is found for Indonesia, Malaysia and Philippines. Both the generalized variance decompositions and impulse response functions confirm the direction of causality. These findings have important policy implications for the countries concerned. The results suggest that while India may directly initiate energy conservation measures, China and Thailand may opt for a balanced combination of alternative polices.

Keywordsenergy conservation; cointegration; error correction model; generalized variance decompositions; generalized impulse response functions
ANZSRC Field of Research 2020380105. Environment and resource economics
440703. Economic development policy
380202. Econometric and statistical methods
Public Notes

The article can be viewed upon request from Shuddhasattwa.Rafiq@usq.edu.au
Permanent restricted access to published version due to publisher copyright policy.

Byline AffiliationsAustralian Centre for Sustainable Business and Development
Curtin University of Technology
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