The linkage between energy consumption and income in six emerging economies of Asia: an empirical analysis
Article
Article Title | The linkage between energy consumption and income in six emerging economies of Asia: an empirical analysis |
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ERA Journal ID | 36140 |
Article Category | Article |
Authors | Rafiq, Shuddhasattwa (Author) and Salim, Ruhul A. (Author) |
Journal Title | International Journal of Emerging Markets |
Journal Citation | 6 (1), pp. 50-73 |
Number of Pages | 24 |
Year | 2011 |
Place of Publication | Bingley, United Kingdom |
ISSN | 1746-8809 |
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. |
Keywords | energy conservation; cointegration; error correction model; generalized variance decompositions; generalized impulse response functions |
ANZSRC Field of Research 2020 | 380105. 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 |
Byline Affiliations | Australian Centre for Sustainable Business and Development |
Curtin University of Technology |
https://research.usq.edu.au/item/9zq41/the-linkage-between-energy-consumption-and-income-in-six-emerging-economies-of-asia-an-empirical-analysis
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