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Long Run Energy Demand and Its Determinants: A Panel Cointegration Analysis of the Association of Southeast Asian Nations-5

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  • Sallahuddin Hassan

    (School of Economics, Finance and Banking, Universiti Utara Malaysia, Malaysia)

Abstract

Energy determinants continue to reinforce the sustained rise in energy demand over the coming years. Such concern has captured considerable attentions among the governments worldwide in the anticipation of its unabated rise to jeopardize a country s long term energy security. Specifically, this paper investigates the interplay between energy demand and its determinants notably world oil price, economic growth, population, urbanization and energy access in the ASEAN-5 over the 2000 2016 period. At the aggregated level, the long run results reveal that economic growth, energy access and urbanization have significant effects on energy demand. However, the results vary by the disaggregated fuel type, respectively. Therefore, energy conservation policy is the viable option in the ASEAN-5 going forward. Also, the policy makers are suggested to secure for reliable and affordable energy supplies with minimal environmental impacts, promote a sustainable development and socio-economic growth and enhance the quality of life.

Suggested Citation

  • Sallahuddin Hassan, 2018. "Long Run Energy Demand and Its Determinants: A Panel Cointegration Analysis of the Association of Southeast Asian Nations-5," International Journal of Energy Economics and Policy, Econjournals, vol. 8(4), pages 270-279.
    • Handle: RePEc:eco:journ2:2018-04-34
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    2. Kabiru Saidu Musa & Rabiu Maijama’a, 2020. "Economic Growth, Energy Consumption and Environmental Pollution in Nigeria: Evidence from ARDL Approach," Energy Economics Letters, Asian Economic and Social Society, vol. 7(2), pages 61-73, December.
    3. Abdulrahman M. Alsobhi, 2023. "Using Artificial Neural Networks to Recognize the Determinants of Energy Consumption in Saudi Arabia," International Journal of Energy Economics and Policy, Econjournals, vol. 13(3), pages 489-493, May.

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    More about this item

    Keywords

    ASEAN-5; energy conservation; energy demand; energy security;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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