Economic Growth, Financial Development, Energy Consumption and Life Expectancy: Fresh Evidence from ASEAN countries

Ernie Hendrawaty, Mohd Shahidan Shaari, Fajrin Satria Dwi Kesumah and Abdul Rahim Ridzuan
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Ernie Hendrawaty: Faculty of Economics and Business, Universitas Lampung, Indonesia.
Mohd Shahidan Shaari: Faculty of Applied and Human Sciences, Universiti Malaysia Perlis, Malaysia.
Fajrin Satria Dwi Kesumah: Faculty of Economics and Business, Universitas Lampung, Indonesia.
Abdul Rahim Ridzuan: Faculty of Business and Management, Universiti Teknologi MARA, Malaysia.

International Journal of Energy Economics and Policy, 2022, vol. 12, issue 2, 444-448

Abstract: The study examines the relationship between economic growth and life expectancy by considering the potential role of financial development and energy consumption in ASEAN Countries. Unit root testing was applied to check the level stationarity data before checking for cointegration between variables using the Error Correction Term (ECT) approach, and ARDL bounds testing was applied for cointegration with structural damage that occurred at a specific time using the Pooled Mean Group (PMG) and Pooled Mean Group (MG). The empirical results showed the existence of cointegration among variables. PMG was selected based on Hausmann Test that indicated energy consumption could significantly and positively affect life expectancy. Therefore, ASEAN countries would be extensively dependent on non-renewable energy to generate their economic activities in the long run. In contrast, in the short run, higher economic growth can reduce life expectancy in most developing countries, as energy consumption is examined to affect life.

Keywords: Economic growth; financial development; energy consumption; life expectancy; ASEAN (search for similar items in EconPapers)
JEL-codes: E6 F37 F43 F47 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (3)

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