Causal Link between Financial Globalisation Uncertainty, Economic Growth, Environmental Degradation and Energy Consumption in ASEAN+3 Countries

Suraya Ismail, Farah Roslan, Wan Anisah Endut, Noris Fatilla Ismail, Abubakar Mohammed Atiku and Ali Umar Ahmad
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Suraya Ismail: Faculty of Business and Management, Universiti Sultan Zainal Abidin, Terengganu, Malaysia
Farah Roslan: Faculty of General Studies and Advanced Education, Universiti Sultan Zainal Abidin, Terengganu Malaysia
Wan Anisah Endut: Faculty of Business and Management, Universiti Sultan Zainal Abidin, Terengganu, Malaysia
Noris Fatilla Ismail: Faculty of Business and Management, Universiti Teknologi MARA, Cawangan Kedah, Malaysia
Abubakar Mohammed Atiku: Faculty of Business and Management, Universiti Sultan Zainal Abidin, Terengganu, Malaysia
Ali Umar Ahmad: Faculty of Maritime Study, Universiti Malaysia Terengganu, 21030 Kuala Nerus, Terengganu, Malaysia

International Journal of Energy Economics and Policy, 2024, vol. 14, issue 1, 1-5

Abstract: This paper aims to examine the causal linkage of financial globalisation uncertainty, Environmental Degradation, economic growth and energy consumption for ASEAN+3 countries using second-generation approach for the period between 1970–2019. The results of second-generation unit root test revealed that economic growth and financial globalisation uncertainty were stationary at level, while energy consumption and environmental degradation were stationary at first difference. In addition, the Larson cointegration test showed that long-run cointegration exists between the variables. Similarly, we found that economic growth and environmental degradation have significant positive influence on energy consumption. However, financial globalisation uncertainty has insignificant influence on energy consumption. The results of causal relationship indicated a bidirectional causal relationship between financial globalisation uncertainty and energy consumption; environmental degradation and energy consumption; and economic growth and energy consumption.

Keywords: Environmental Degradation; Economic Growth; Energy Consumption; Second-Generation Approach (search for similar items in EconPapers)
JEL-codes: B23 O47 P18 P34 R11 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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