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Energy market integration and equitable growth across countries

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  • Sheng, Yu
  • Shi, Xunpeng

Abstract

Energy Market Integration (EMI) has been a goal for many regions, including the European Union and East Asia, for quite a long time. How it could play a role in facilitating equitable economic growth among a group of countries remains an empirical question that this paper will attempt to answer. The paper uses economic convergence analysis (including both the σ-convergence and β-convergence approaches) to examine the impact of EMI – measured by two newly constructed indexes (namely, the energy trade index and the energy market competition index) – at the country level on dynamic economic growth paths across countries. Its special interest lies in informing policy making related to promoting EMI. The results show that countries involved in a more integrated energy market are more likely to reduce their income disparity, suggesting that EMI may help the region to achieve equitable growth through the accelerated economic development of lagged economies.

Suggested Citation

  • Sheng, Yu & Shi, Xunpeng, 2013. "Energy market integration and equitable growth across countries," Applied Energy, Elsevier, vol. 104(C), pages 319-325.
  • Handle: RePEc:eee:appene:v:104:y:2013:i:c:p:319-325
    DOI: 10.1016/j.apenergy.2012.10.043
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    References listed on IDEAS

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    1. anonymous, 1995. "Does the bouncing ball lead to economic growth?," Regional Update, Federal Reserve Bank of Atlanta, issue jul, pages 1-2,4-6.
    2. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
    3. Xavier Sala-I-Martin, 1997. "Transfers, Social Safety Nets, and Economic Growth," IMF Staff Papers, Palgrave Macmillan, vol. 44(1), pages 81-102, March.
    4. Andrew T. Young & Matthew J. Higgins & Daniel Levy, 2008. "Sigma Convergence versus Beta Convergence: Evidence from U.S. County-Level Data," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(5), pages 1083-1093, August.
    5. Subramanian, Arvind & Wei, Shang-Jin, 2007. "The WTO promotes trade, strongly but unevenly," Journal of International Economics, Elsevier, vol. 72(1), pages 151-175, May.
    6. Lee, Hiro & Owen, Robert F. & van der Mensbrugghe, Dominique, 2009. "Regional integration in Asia and its effects on the EU and North America," Journal of Asian Economics, Elsevier, vol. 20(3), pages 240-254, May.
    7. Diego A. Comin & Bart Hobijn, 2009. "The CHAT Dataset," Harvard Business School Working Papers 10-035, Harvard Business School.
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    Citations

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    Cited by:

    1. Mishra, Vinod & Smyth, Russell, 2014. "Convergence in energy consumption per capita among ASEAN countries," Energy Policy, Elsevier, vol. 73(C), pages 180-185.
    2. Han, Lei & Han, Botang & Shi, Xunpeng & Su, Bin & Lv, Xin & Lei, Xiao, 2018. "Energy efficiency convergence across countries in the context of China’s Belt and Road initiative," Applied Energy, Elsevier, vol. 213(C), pages 112-122.
    3. Zhang, Chuanguo & Zhao, Wei, 2014. "Panel estimation for income inequality and CO2 emissions: A regional analysis in China," Applied Energy, Elsevier, vol. 136(C), pages 382-392.
    4. Arora, Vipin & Cai, Yiyong, 2014. "U.S. natural gas exports and their global impacts," Applied Energy, Elsevier, vol. 120(C), pages 95-103.
    5. Hao, Yu & Liao, Hua & Wei, Yi-Ming, 2015. "Is China’s carbon reduction target allocation reasonable? An analysis based on carbon intensity convergence," Applied Energy, Elsevier, vol. 142(C), pages 229-239.
    6. Yu SHENG & Yanrui WU & Xunpeng SHI & Dandan ZHANG, 2014. "Markket Integration and Energy Trade Efficiency: An Application of Malmqvist Index to Analyse Multi-Product Trade," Working Papers DP-2014-20, Economic Research Institute for ASEAN and East Asia (ERIA).
    7. repec:eee:eneeco:v:63:y:2017:i:c:p:261-271 is not listed on IDEAS
    8. repec:spr:nathaz:v:90:y:2018:i:3:d:10.1007_s11069-017-3110-1 is not listed on IDEAS
    9. repec:eee:enepol:v:132:y:2019:i:c:p:83-95 is not listed on IDEAS
    10. Bae, Mungyu & Kim, Hwantae & Kim, Eugene & Chung, Albert Yongjoon & Kim, Hwangnam & Roh, Jae Hyung, 2014. "Toward electricity retail competition: Survey and case study on technical infrastructure for advanced electricity market system," Applied Energy, Elsevier, vol. 133(C), pages 252-273.
    11. Li, Yingzhu & Shi, Xunpeng & Yao, Lixia, 2016. "Evaluating energy security of resource-poor economies: A modified principle component analysis approach," Energy Economics, Elsevier, vol. 58(C), pages 211-221.
    12. repec:era:chaptr:2013-rpr-29-06 is not listed on IDEAS
    13. repec:eee:enepol:v:122:y:2018:i:c:p:118-128 is not listed on IDEAS
    14. Dandan ZHANG & Xunpeng SHI & Yu SHENG, 2014. "Enhanced Measurement of Energy Market Integration in East Asia: An Application of Dynamic Principal Component Analysis," Working Papers DP-2014-23, Economic Research Institute for ASEAN and East Asia (ERIA).
    15. Navarro, Adoracion M. & Sambodo, Maxensius Tri & Todoc, Jessie L., 2013. "Energy Market Integration and Energy Poverty in ASEAN," Discussion Papers DP 2013-50, Philippine Institute for Development Studies.
    16. repec:eee:eneeco:v:65:y:2017:i:c:p:32-41 is not listed on IDEAS
    17. repec:era:chaptr:2013-rpr-29-10 is not listed on IDEAS
    18. Zhang, Dandan & Shi, Xunpeng & Sheng, Yu, 2015. "Comprehensive measurement of energy market integration in East Asia: An application of dynamic principal component analysis," Energy Economics, Elsevier, vol. 52(PB), pages 299-305.

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