Energy Market Integration and Economic Convergence: Implications for East Asia
Energy Market Integration (EMI) has been pursued by East Asian countries in recent years, but how it could play a role in facilitating economic growth of countries in the region remains to be an empirical question. This paper uses the 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 path across countries, with a special interest to inform policy makings related to promoting EMI among East Asian countries. The result shows that a more integrated energy market may significantly reduce income disparity across countries and thus help poor countries to catch up with rich countries in economic development. Moreover, a comparison among the three regions including EU, NAFTA and EAS shows that EAS countries are more likely to achieve economic convergence along with the construction of EMI process. An important policy implication is that less developed countries in the EAS region can increase benefits from actively participating into the EMI process.
|Date of creation:||01 Oct 2011|
|Date of revision:|
|Contact details of provider:|| Postal: The ASEAN Secretariat Mezzanine Floor, 70A Jl.Sisingamangaraja, Jakarta 12110|
Web page: http://www.eria.org/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Diego A. Comin & Bart Hobijn, 2009.
"The CHAT Dataset,"
NBER Working Papers
15319, National Bureau of Economic Research, Inc.
- Martin, Philippe & Rogers, Carol Ann, 1997.
"Stabilization Policy, Learning-by-Doing, and Economic Growth,"
Oxford Economic Papers,
Oxford University Press, vol. 49(2), pages 152-66, April.
- Martin, Philippe & Rogers, Carol Ann, 1995. "Stabilization Policy, Learning by Doing, and Economic Growth," CEPR Discussion Papers 1130, C.E.P.R. Discussion Papers.
- Robert J. Barro, 1995.
"Inflation and Economic Growth,"
NBER Working Papers
5326, National Bureau of Economic Research, Inc.
- Subramanian, Arvind & Wei, Shang-Jin, 2005.
"The WTO Promotes Trade, Strongly But Unevenly,"
CEPR Discussion Papers
5122, C.E.P.R. Discussion Papers.
- Arvind Subramanian & Shang-Jin Wei, 2003. "The WTO Promotes Trade, Strongly But Unevenly," NBER Working Papers 10024, National Bureau of Economic Research, Inc.
- Shang-Jin Wei & Arvind Subramanian, 2003. "The WTO Promotes Trade, Strongly But Unevenly," IMF Working Papers 03/185, International Monetary Fund.
- Song, Ligang & Sheng, Yu, 2008. "The Impact of Reform on Economic Growth in China: A Principal Component Analysis," Working Paper Series RP2008/12, World Institute for Development Economic Research (UNU-WIDER).
- 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.
- Xavier Sala-I-Martin, 1997.
"Transfers, Social Safety Nets, and Economic Growth,"
IMF Staff Papers,
Palgrave Macmillan, vol. 44(1), pages 81-102, March.
- Abigail Barr, 1995.
"The missing factor: entrepreneurial networks, enterprises and economic growth in Ghana,"
Economics Series Working Papers
WPS/1995-11, University of Oxford, Department of Economics.
- Abigail Barr, 1995. "The missing factor: entrepreneurial networks, enterprises and economic growth in Ghana," CSAE Working Paper Series 1995-11, Centre for the Study of African Economies, University of Oxford.
- Yu Sheng & Xunpeng Shi, .
"Energy Market Integration and Economic Convergence: Implications for East Asia,"
Economic Research Institute for ASEAN and East Asia (ERIA).
- Yu SHENG & Xunpeng SHI, 2011. "Energy Market Integration and Economic Convergence: Implications for East Asia," Working Papers DP-2011-05, Economic Research Institute for ASEAN and East Asia (ERIA).
When requesting a correction, please mention this item's handle: RePEc:era:wpaper:dp-2011-05. 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: (Hiroshi Okasaki)
If references are entirely missing, you can add them using this form.