Energy consumption and output: time series evidence from non-OECD Asian countries

Paper


Rafiq, Shuddhasattwa. 2008. "Energy consumption and output: time series evidence from non-OECD Asian countries ." 2008 USAEE (USA Association of Energy Economics) / IAEE North American Conference. New Orleans, United States of America 03 - 05 Dec 2008 United States.
Paper/Presentation Title

Energy consumption and output: time series evidence from non-OECD Asian countries

Presentation TypePaper
Authors
AuthorRafiq, Shuddhasattwa
Journal or Proceedings TitleProceedings of the 2008 USAEE (USA Association of Energy Economics) / IAEE North American Conference
Number of Pages18
Year2008
Place of PublicationUnited States
Conference/Event2008 USAEE (USA Association of Energy Economics) / IAEE North American Conference
Event Details
2008 USAEE (USA Association of Energy Economics) / IAEE North American Conference
Parent
USAEE/IAEE North American Conference
Event Date
03 to end of 05 Dec 2008
Event Location
New Orleans, United States of America
Abstract

This article examines the short- and long-run causal relationship between energy consumption and output in six non-OECD Asian developing countries. Standard time series econometrics is used for this purpose. Based on cointegration and vector error correction modeling, the empirical result shows a bi-directional causality between energy consumption and income in Malaysia, while a unidirectional causality from output to energy consumption in China and Thailand and energy consumption to output in India and Pakistan. Bangladesh remains as an energy neutral economy confirming the fact that it is one of the lowest energy consuming countries in Asia. Both the generalized variance decompositions and the impulse response functions confirm the direction of causality in these countries. These findings have important policy implications for concerned countries. Countries like China and Thailand may contribute to the fight against global warming directly implementing energy conservation measures whereas India and Pakistan may focus on technological developments and mitigation policies. For Malaysia, a balanced combination of alternative policies seems to be appropriate.

Keywordsenergy conservation, cointegration, error correction model, generalized variance decompositions, generalized impulse response functions
ANZSRC Field of Research 2020380105. Environment and resource economics
Public Notes

Abstract deposited in accordance with the copyright policy of the publisher.

Byline AffiliationsCurtin University of Technology
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