Sectoral Growth and Energy Consumption in South and Southeast Asian Countries: Evidence from a Panel Data Approach
Anthony Rezitis () and
Shaikh Mostak Ahammad ()
Additional contact information
Shaikh Mostak Ahammad: Department of Accounting, Hajee Mohammad Danesh Science and Technology University, BANGLADESH, http://www.hstu.ac.bd/teacher/mostak
Review of Economics & Finance, 2017, vol. 10, 1-17
This study examines the dynamic relationship between energy consumption and the three major sectoral outputs (agricultural, manufacturing and service) in thirteen South and Southeast Asian countries using a panel data framework for the period 1971¨C2012. It undertakes panel cointegration analysis to investigate the long-run relationship between the variables. Also, the panel vector error correction model (PVECM) and impulse response functions (IRFs) are employed to examine the short- and long-run direction of causality and the effect of responses between energy consumption and the three sectoral outputs. The empirical results reveal that the long-run equilibrium relationship between energy consumption and the three sectoral outputs is positive and statistically significant, indicating the existence of long-run co-movement among the variables. The short- and long-run causality results support the existence of bidirectional causality between energy consumption and the three sectoral outputs except for the short-run causality between energy consumption and service sector output, which is unidirectional, running from service sector output to energy consumption. The IRFs show that all variables reach the equilibrium level within three to seven years from the initial shock.
Keywords: Panel cointegration; Panel vector error correction model; Panel causality; Panel impulse response functions; SAARC; ASEAN (search for similar items in EconPapers)
JEL-codes: O47 O53 Q43 (search for similar items in EconPapers)
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bap:journl:170401
Ordering information: This journal article can be ordered from
17 Alton Towers Circle, Unit 101 Toronto, ON, M1V3L8, Canada
Access Statistics for this article
Review of Economics & Finance is currently edited by H. Carlson
More articles in Review of Economics & Finance from Better Advances Press, Canada 17 Alton Towers Circle, Unit 101 Toronto, ON, M1V3L8, Canada.
Series data maintained by Carlson ().