IDEAS home Printed from https://ideas.repec.org/a/eee/enepol/v74y2014icp91-100.html
   My bibliography  Save this article

Energy market integration and regional institutions in east Asia

Author

Listed:
  • Aalto, Pami

Abstract

This article assesses the case made for energy market integration in East Asia by comparing the role of institutions in South East Asia and North East Asia. The types and functions of institutions and their overall structure are examined in light of global energy market trends. In South East Asia, the shift attempted by ASEAN towards more competitive markets is hampered by the remaining statist variants of the trade institution and bilateral energy diplomacy, which, as regards transaction cost functions, are sub-optimal. As for institutions with order-creating functions, the unresolved status of sovereignty within ASEAN hampers regulatory harmonisation; the great power management institution has since ASEAN׳s establishment reduced conflicts without providing decisive leadership conducive to integration. North East Asia׳s dependence on global energy markets overshadows the regional integration potential of the diverse liberalisation efforts and interconnection projects. Bilateral energy diplomacies, new trilateral institutions combined with ‘Track Two’ institutions and remaining great power competition co-exist. In both regions the institutional structure allows for step-wise, technical infrastructure integration. The environmental stewardship institution co-exists with statist energy security and development objectives while it supports cooperation on green energy. The overall structure of informal institutions constrains deeper energy market integration in several ways.

Suggested Citation

  • Aalto, Pami, 2014. "Energy market integration and regional institutions in east Asia," Energy Policy, Elsevier, vol. 74(C), pages 91-100.
  • Handle: RePEc:eee:enepol:v:74:y:2014:i:c:p:91-100
    DOI: 10.1016/j.enpol.2014.08.021
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0301421514004741
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.enpol.2014.08.021?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Van de Graaf, Thijs & Sovacool, Benjamin K., 2014. "Thinking big: Politics, progress, and security in the management of Asian and European energy megaprojects," Energy Policy, Elsevier, vol. 74(C), pages 16-27.
    2. Youngho CHANG & Yanfei LI, 2014. "Non-renewable Resources in Asian Economies: Perspective of Availability, Applicability Acceptability, and Affordability," Working Papers DP-2014-04, Economic Research Institute for ASEAN and East Asia (ERIA).
    3. Christopher Dent & Elspeth Thomson, 2013. "Asia’s and Europe’s energy policy challenges: introduction," Asia Europe Journal, Springer, vol. 11(3), pages 201-210, September.
    4. Biswa Nath Bhattacharyay, 2010. "Institutions For Asian Connectivity," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 1(02), pages 309-335.
    5. Talus, Kim, 2014. "United States natural gas markets, contracts and risks: What lessons for the European Union and Asia-Pacific natural gas markets?," Energy Policy, Elsevier, vol. 74(C), pages 28-34.
    6. Chia, Siow Yue, 2013. "The ASEAN Economic Community: Progress, Challenges, and Prospects," ADBI Working Papers 440, Asian Development Bank Institute.
    7. Kamal Soundararajan & Elspeth Thomson, 2013. "Asia and European transport biofuels stalled at the same place?," Asia Europe Journal, Springer, vol. 11(3), pages 247-263, September.
    8. Rizal Sukma, 2014. "ASEAN Beyond 2015: The Imperatives for Further Institutional Changes," Working Papers PB-2014-05, Economic Research Institute for ASEAN and East Asia (ERIA).
    9. Vivoda, Vlado, 2014. "Natural gas in Asia: Trade, markets and regional institutions," Energy Policy, Elsevier, vol. 74(C), pages 80-90.
    10. Giovanni Capannelli, 2011. "Institutions for Economic and Financial Integration in Asia : Trends and Prospects," Trade Working Papers 23228, East Asian Bureau of Economic Research.
    11. Hamanaka, Shintaro, 2012. "Is Trade in Asia Really Integrating?," Working Papers on Regional Economic Integration 91, Asian Development Bank.
    12. Siow Yue Chia, 2013. "The ASEAN Economic Community : Progress, Challenges, and Prospects," Governance Working Papers 23717, East Asian Bureau of Economic Research.
    13. Siow Yue Chia, 2013. "The ASEAN Economic Community : Progress, Challenges, and Prospects," Trade Working Papers 23717, East Asian Bureau of Economic Research.
    14. Frank Umbach, 2013. "The unconventional gas revolution and the prospects for Europe and Asia," Asia Europe Journal, Springer, vol. 11(3), pages 305-322, September.
    15. Capannelli, Giovanni, 2011. "Institutions for Economic and Financial Integration in Asia: Trends and Prospects," ADBI Working Papers 308, Asian Development Bank Institute.
    16. Giovanni Capannelli, 2011. "Institutions for Economic and Financial Integration in Asia : Trends and Prospects," Governance Working Papers 23228, East Asian Bureau of Economic Research.
    17. Mattli,Walter, 1999. "The Logic of Regional Integration," Cambridge Books, Cambridge University Press, number 9780521632270, February.
    18. Mattli,Walter, 1999. "The Logic of Regional Integration," Cambridge Books, Cambridge University Press, number 9780521635363, February.
    19. Qi, Tianyu & Zhang, Xiliang & Karplus, Valerie J., 2014. "The energy and CO2 emissions impact of renewable energy development in China," Energy Policy, Elsevier, vol. 68(C), pages 60-69.
    20. Motomura, Masumi, 2014. "Japan’s need for Russian oil and gas: A shift in energy flows to the Far East," Energy Policy, Elsevier, vol. 74(C), pages 68-79.
    21. von Hippel, David & Savage, Timothy & Hayes, Peter, 2011. "Overview of the Northeast Asia energy situation," Energy Policy, Elsevier, vol. 39(11), pages 6703-6711.
    22. Shadrina, Elena, 2014. "Russia׳s natural gas policy toward Northeast Asia: Rationales, objectives and institutions," Energy Policy, Elsevier, vol. 74(C), pages 54-67.
    23. Aalto, Pami, 2014. "Institutions in European and Asian energy markets: A methodological overview," Energy Policy, Elsevier, vol. 74(C), pages 4-15.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Majdoub, Jihed & Ben Sassi, Salim, 2017. "Volatility spillover and hedging effectiveness among China and emerging Asian Islamic equity indexes," Emerging Markets Review, Elsevier, vol. 31(C), pages 16-31.
    2. Cosimo Magazzino, 2017. "The relationship among economic growth, CO2 emissions, and energy use in the APEC countries: a panel VAR approach," Environment Systems and Decisions, Springer, vol. 37(3), pages 353-366, September.
    3. Westphal, Kirsten, 2014. "Institutional change in European natural gas markets and implications for energy security: Lessons from the German case," Energy Policy, Elsevier, vol. 74(C), pages 35-43.
    4. Amoiralis, Eleftherios I. & Andriosopoulos, Kostas, 2017. "Challenges for a compliance officer in the liberalized EU energy market: A case study on the Greek gas transmission system operator," Energy Policy, Elsevier, vol. 110(C), pages 117-125.
    5. Aalto, Pami, 2014. "Institutions in European and Asian energy markets: A methodological overview," Energy Policy, Elsevier, vol. 74(C), pages 4-15.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Aalto, Pami, 2014. "Institutions in European and Asian energy markets: A methodological overview," Energy Policy, Elsevier, vol. 74(C), pages 4-15.
    2. Chin, Gregory, 2012. "Responding to the Global Financial Crisis: The Evolution of Asian Regionalism and Economic Globalization," ADBI Working Papers 343, Asian Development Bank Institute.
    3. Sanchita Basu Das & Rahul Sen & Sadhana Srivastava, 2017. "A Partial Asean Customs Union Post 2015?," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(03), pages 593-617, June.
    4. Paul John, Pena, 2019. "An ASEAN Digital Single Market: Boosting the Aspiration for a Single Market in the Digital Era," MPRA Paper 95948, University Library of Munich, Germany.
    5. Libman, Alexander & Vinokurov, Evgeny, 2016. "Региональные Организации: Типы И Логика Развития [Regional Organizations: Typology and Development Paths]," MPRA Paper 79383, University Library of Munich, Germany.
    6. Choong Lyol Lee & Shinji Takagi, 2015. "Assessing the Financial Landscape for the Association of Southeast Asian Nations Economic Community, 2015," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 2(1), pages 116-129, January.
    7. Saima Gul & Syed Ali Shah & Muhammad Usman Ullah, 2018. "The Role of Trade in Peace Promotion: Assessment of Pak-India Relationship," Global Economics Review, Humanity Only, vol. 3(2), pages 34-42, December.
    8. repec:ilo:ilowps:486525 is not listed on IDEAS
    9. Techakanont, Kriengkrai., 2014. "Managing integration for better jobs and shared prosperity in the ASEAN Economic Community the case of Thailand's automotive sector," ILO Working Papers 994865253402676, International Labour Organization.
    10. Kaewkamol Pitakdumrongkit, 2017. "Beyond The Secretariat: Addressing Governance Issues In Asean Economic Community," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(03), pages 741-759, June.
    11. Amichai Kilchevsky & Jeffrey Cason & Kirsten Wandschneider, 2007. "Peace and Economic Interdependence in the Middle East," The World Economy, Wiley Blackwell, vol. 30(4), pages 647-664, April.
    12. Andrés Malamud, 2013. "Overlapping Regionalism, No Integration: Conceptual Issues and the Latin American Experiences," RSCAS Working Papers 2013/20, European University Institute.
    13. Romanova, Tatiana, 2014. "Russian energy in the EU market: Bolstered institutionsand their effects," Energy Policy, Elsevier, vol. 74(C), pages 44-53.
    14. Vinokurov, Evgeny, 2009. "Systema Indikatorov Evraziyskoy Integracii [The System of Indicators of Eurasian Integration]," MPRA Paper 20914, University Library of Munich, Germany.
    15. Alex Warleigh-Lack & Ben Rosamond, 2010. "Across the EU Studies-New Regionalism Frontier: Invitation to a Dialogue," Journal of Common Market Studies, Wiley Blackwell, vol. 48, pages 993-1013, September.
    16. repec:gig:joupla:v:5:y:2013:i:3:p:97-132 is not listed on IDEAS
    17. Vinokurov, Evgeny, 2010. "The System of Indicators of Eurasian Integration," MPRA Paper 22227, University Library of Munich, Germany.
    18. Tanja A. Börzel, 2010. "The Transformative Power of Europe Reloaded - The Limits of External Europeanization," KFG Working Papers p0011, Free University Berlin.
    19. Hermann Sebastian Dehnen & Jan H. van Dinther & Norbert Koubek, 2013. "From emerging economies toward the Emerging Triad," Schumpeter Discussion Papers SDP13008, Universitätsbibliothek Wuppertal, University Library.
    20. Nathaniel Copsey & Tim Haughton, 2009. "The Choices for Europe: National Preferences in New and Old Member States," Journal of Common Market Studies, Wiley Blackwell, vol. 47, pages 263-286, March.
    21. Hamanaka, Shintaro, 2018. "Why breakup?: looking into unsuccessful free trade agreement negotiations," IDE Discussion Papers 697, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    22. Eichengreen, Barry, 2002. "Lessons of the Euro for the Rest of the World," Department of Economics, Working Paper Series qt16g425jb, Department of Economics, Institute for Business and Economic Research, UC Berkeley.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:enepol:v:74:y:2014:i:c:p:91-100. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: http://www.elsevier.com/locate/enpol .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/enpol .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.