Energy consumption and output: time series evidence from non-OECD Asian countries
Paper
Paper/Presentation Title | Energy consumption and output: time series evidence from non-OECD Asian countries |
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Presentation Type | Paper |
Authors | |
Author | Rafiq, Shuddhasattwa |
Journal or Proceedings Title | Proceedings of the 2008 USAEE (USA Association of Energy Economics) / IAEE North American Conference |
Number of Pages | 18 |
Year | 2008 |
Place of Publication | United States |
Conference/Event | 2008 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. |
Keywords | energy conservation, cointegration, error correction model, generalized variance decompositions, generalized impulse response functions |
ANZSRC Field of Research 2020 | 380105. Environment and resource economics |
Public Notes | Abstract deposited in accordance with the copyright policy of the publisher. |
Byline Affiliations | Curtin University of Technology |
https://research.usq.edu.au/item/9zy42/energy-consumption-and-output-time-series-evidence-from-non-oecd-asian-countries
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