ENERGY SECURITY, RENEWABLE, NON-RENEWABLE ENERGY AND ECONOMIC GROWTH IN ASEAN ECONOMIES: NEW INSIGHTS

Rabindra Nepal and Hammed Oluwaseyi Musibau ()
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Hammed Oluwaseyi Musibau: University of Tasmania, Australia

The Singapore Economic Review (SER), 2021, vol. 66, issue 02, 457-488

Abstract: This study examines the linkages between energy security (ES), renewable and non-renewable energy on economic growth for ASEAN countries within a neo-classical growth framework. The econometric techniques account for cross-sectional dependence and structural breaks by undertaking a dynamic common correlation effect analysis unlike previous studies. The study finds a long-run relationship between ES, renewable, non-renewable energy and economic growth for ASEAN economies between 1980 and 2018. Our results also confirm a feedback relationship between renewable energy and economic growth in the ASEAN. Thus, the ASEAN governments must prioritize renewable energy funding and investments. The results are robust to different estimations and methods.

Keywords: Renewable; non-renewable energy; energy security and growth (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1142/S0217590819430045

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