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Energy security, renewable, non-renewable energy and economic growth in ASEAN economies: New insights

Journal Article


Abstract


  • This study examines the linkages between energy security (ES), renewable and non-renewable energy on economic growth for ASEAN countries within a neo-classical growth framework. The econometric techniques account for cross-sectional dependence and structural breaks by undertaking a dynamic common correlation effect analysis unlike previous studies. The study finds a long-run relationship between ES, renewable, non-renewable energy and economic growth for ASEAN economies between 1980 and 2018. Our results also confirm a feedback relationship between renewable energy and economic growth in the ASEAN. Thus, the ASEAN governments must prioritize renewable energy funding and investments. The results are robust to different estimations and methods.

Publication Date


  • 2020

Citation


  • Nepal, R. & Musibau, H. (2020). Energy security, renewable, non-renewable energy and economic growth in ASEAN economies: New insights. Singapore Economic Review, Online First

Scopus Eid


  • 2-s2.0-85101948317

Volume


  • Online First

Place Of Publication


  • Singapore

Abstract


  • This study examines the linkages between energy security (ES), renewable and non-renewable energy on economic growth for ASEAN countries within a neo-classical growth framework. The econometric techniques account for cross-sectional dependence and structural breaks by undertaking a dynamic common correlation effect analysis unlike previous studies. The study finds a long-run relationship between ES, renewable, non-renewable energy and economic growth for ASEAN economies between 1980 and 2018. Our results also confirm a feedback relationship between renewable energy and economic growth in the ASEAN. Thus, the ASEAN governments must prioritize renewable energy funding and investments. The results are robust to different estimations and methods.

Publication Date


  • 2020

Citation


  • Nepal, R. & Musibau, H. (2020). Energy security, renewable, non-renewable energy and economic growth in ASEAN economies: New insights. Singapore Economic Review, Online First

Scopus Eid


  • 2-s2.0-85101948317

Volume


  • Online First

Place Of Publication


  • Singapore