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Energy and economic growth in developing Asian economies

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  • Muhammad Azam

Abstract

The pivotal role of energy in the progression of economic growth cannot be overlooked. Given its importance to policymakers, the influence of energy use on economic growth is undeniably crucial and thus should be explored meticulously. This study empirically examines the impact of energy on economic growth within the production function framework of a panel of 10 developing Asian economies from 1990Q1 to 2014Q4. The pooled mean group, fully modified ordinary least squares, and dynamic ordinary least squares methods are implemented. Empirical results reveal that energy has a significant positive impact on economic growth, thereby suggesting that energy is an important factor of production in addition to human and physical capital. The implication of the finding suggests that all 10 Asian economies are energy dependent and thus can propel economic growth by sustaining energy supply, which can largely improve social welfare.

Suggested Citation

  • Muhammad Azam, 2020. "Energy and economic growth in developing Asian economies," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 25(3), pages 447-471, July.
    • Handle: RePEc:taf:rjapxx:v:25:y:2020:i:3:p:447-471
    DOI: 10.1080/13547860.2019.1665328
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    Cited by:

    1. Geoffrey Ssebabi Mutumba & Tomson Odongo & Francis Nathan Okurut & Vincent Bagire & Livingstone Senyonga, 2022. "Renewable and non-renewable energy consumption and economic growth in Uganda," SN Business & Economics, Springer, vol. 2(7), pages 1-28, July.
    2. Bright Akwasi Gyamfi & Murad A. Bein & Festus Fatai Adedoyin & Festus Victor Bekun, 2022. "To what extent are pollutant emission intensified by international tourist arrivals? Starling evidence from G7 Countries," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(6), pages 7896-7917, June.
    3. Azam Muhammad & Mahdiat Mahdiat & Hafeez Muhammad Haroon & Bakhtyar Baher, 2022. "Investigating the Role of Tourism in Economic Growth: Empirical Evidence from Pakistan," Polish Journal of Sport and Tourism, Sciendo, vol. 29(1), pages 39-47, March.
    4. Chien, Fengsheng & Anwar, Ahsan & Hsu, Ching-Chi & Sharif, Arshian & Razzaq, Asif & Sinha, Avik, 2021. "The role of information and communication technology in encountering environmental degradation: Proposing an SDG framework for the BRICS countries," Technology in Society, Elsevier, vol. 65(C).
    5. Mmbaga, Nanzia F. & Kulindwa, Yusuph & Kazungu, Isaac, 2023. "Energy Consumption and Economic Growth Nexus in East African Sub-Region: Interactive Dynamics of Human Capital," African Journal of Economic Review, African Journal of Economic Review, vol. 11(5), December.
    6. Oussama Ritahi & Abdellah Echaoui, 2024. "Effects of Corruption, Government Effectiveness and Political stability on Economic Growth: Evidence from Morocco," International Journal of Economics and Financial Issues, Econjournals, vol. 14(4), pages 87-95, July.
    7. Ayoub Zeraibi & Daniel Balsalobre-Lorente & Khurram Shehzad, 2020. "Examining the Asymmetric Nexus between Energy Consumption, Technological Innovation, and Economic Growth; Does Energy Consumption and Technology Boost Economic Development?," Sustainability, MDPI, vol. 12(21), pages 1-17, October.
    8. Skare, Marinko & Ozturk, Ilhan & Porada-Rochoń, Małgorzata & Stjepanovic, Sasa, 2024. "Energy as the new frontier: Dynamic panel data analysis revealing energy's transformative role in economic growth and technological progress," Technological Forecasting and Social Change, Elsevier, vol. 200(C).
    9. Muhammad Azam & Saleem Khan, 2022. "Threshold effects in the relationship between inflation and economic growth: Further empirical evidence from the developed and developing world," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 4224-4243, October.
    10. Abdul Majid Awan & Muhammad Azam, 2022. "Evaluating the impact of GDP per capita on environmental degradation for G-20 economies: Does N-shaped environmental Kuznets curve exist?," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(9), pages 11103-11126, September.
    11. Yuanying Chi & Guoqing Bai & Jialin Li & Bin Chen, 2021. "Research on the coordination of energy in China’s economic growth," PLOS ONE, Public Library of Science, vol. 16(6), pages 1-20, June.
    12. Muhammad Azam, 2022. "Governance and Economic Growth: Evidence from 14 Latin America and Caribbean Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(2), pages 1470-1495, June.

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