Energy consumption and income in six Asian developing countries: a multivariate cointegration analysis

Paper


Rafiq, Shuddhasattwa. 2008. "Energy consumption and income in six Asian developing countries: a multivariate cointegration analysis." Cabalu, Helen and Marinova, Dora (ed.) 2nd IAEE Asian Conference: Energy Security and Economic Development under Environmental Constraints in the Asia-Pacific Region. Perth, Western Australia 05 - 07 Nov 2008 Bentley, Western Australia.
Paper/Presentation Title

Energy consumption and income in six Asian developing countries: a multivariate cointegration analysis

Presentation TypePaper
Authors
AuthorRafiq, Shuddhasattwa
EditorsCabalu, Helen and Marinova, Dora
Journal or Proceedings TitleProceedings of the 2nd IAEE Asian Conference: Energy Security and Economic Development under Environmental Constraints in the Asia-Pacific Region
Number of Pages25
Year2008
Place of PublicationBentley, Western Australia
ISBN9780977536924
Web Address (URL) of Paperhttp://www.iaee.org/en/conferences/
Conference/Event2nd IAEE Asian Conference: Energy Security and Economic Development under Environmental Constraints in the Asia-Pacific Region
Event Details
2nd IAEE Asian Conference: Energy Security and Economic Development under Environmental Constraints in the Asia-Pacific Region
Event Date
05 to end of 07 Nov 2008
Event Location
Perth, Western Australia
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
440301. Family and household studies
440805. Environmental politics
Public Notes

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Byline AffiliationsCurtin University of Technology
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