Will monetary policy affect energy security? Evidence from Asian countries

Ke Wang, Yi-Wei Wang and Quan-Jing Wang

Journal of Asian Economics, 2022, vol. 81, issue C

Abstract: This paper uses the System Generalized Moments (SYS-GMM) method to empirically analyze the data of 16 Asian countries from 2000 to 2019, and finds the impact of monetary policy on energy security. We conclude that the real interest rate, total reserve and exchange rate all have a positive impact on energy security, that is, when these three indicators decline, the risk of energy security increases, this reminds policymakers to pay close attention to the trend of energy security when implementing loose monetary policy. In addition, we also found that the relationship between monetary policy and energy security increased significantly after the 2008 financial crisis, and the more developed the economy is, the more likely it is to encounter energy security challenges brought about by changes in monetary policy. Overall, our evidences provide useful experience for the literature related to energy security.

Keywords: Monetary policy; Energy saecurity; GMM (search for similar items in EconPapers)
JEL-codes: E52 Q43 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:asieco:v:81:y:2022:i:c:s104900782200063x

DOI: 10.1016/j.asieco.2022.101506

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