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Energy Security, Economic Growth, and Poverty Reduction: Empirical Evidence from Selected ASEAN Member States

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Poverty Reduction for Inclusive Sustainable Growth in Developing Asia

Part of the book series: Economics, Law, and Institutions in Asia Pacific ((ELIAP))

Abstract

This study analyzes energy security and economic growth’s relationship with poverty reduction in selected ASEAN member states. To measure energy security, we consider five factors: availability, applicability, acceptability, affordability, and develop-ability. In this analysis, we run panel cointegration by FMOLS with panel data on eight ASEAN member countries from 1990 to 2016. The empirical results show that all energy security variables, except the renewable energy consumption and CO2 emissions, have positive effects on economic growth. In addition, the results of this study show a positive relationship between poverty reduction and economic growth. Based on these results, policy makers should emphasise to find primary energy sources and focus on available of energy management on both supply and demand side and should research alternative energy sources and provide a diversified combination of energy sources to reduce reliance on primary energy sources in order to support applicability and acceptability. They should also try to modify the energy structure by focusing on the impact and contribution of the accessibility of the poor population whose access to new alternative energy sources can support economic growth for poverty reduction.

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Acknowledgements

We benefited from the comments and suggestions of Dr. Farhad Taghizadeh-Hesary at the Ninth International Conference on Asian Economic Development on Poverty Reduction for Inclusive Sustainable Growth in Developing Asia.

Author information

Authors and Affiliations

  1. Faculty of Economics, Chiang Mai University, Chiang Mai, Thailand

    Thatchanon Anancharoenkij & Warattaya Chinnakum

Authors
  1. Thatchanon Anancharoenkij
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  2. Warattaya Chinnakum
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Editor information

Editors and Affiliations

  1. Social Science Research Institute, Tokai University, Hiratsuka, Kanagawa, Japan

    Farhad Taghizadeh-Hesary

  2. Faculty of Economics, Chiang Mai University, Chiang Mai, Thailand

    Nisit Panthamit

  3. Keio University, Minato City, Tokyo, Japan

    Naoyuki Yoshino

Appendix

Appendix

Table 1 Variable descriptions
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Table 2 Statistical descriptions data for the eight sample countries in the ASEAN region 1990–2016
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Table 3 Correlation matrix
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Table 4 Results of cross-sectional dependency test
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Table 5 Results of Levin, Lin snf Chu, Breitung, Im-Pesaran-Shin, ADF-Fisher, and PP Fisher panel unit root test
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Table 6 Results of the Kao panel cointegration test
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Table 7 The results of panel FMOLS cointegration estimate between energy security, poverty reduction and economic growth
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Anancharoenkij, T., Chinnakum, W. (2021). Energy Security, Economic Growth, and Poverty Reduction: Empirical Evidence from Selected ASEAN Member States. In: Taghizadeh-Hesary, F., Panthamit, N., Yoshino, N. (eds) Poverty Reduction for Inclusive Sustainable Growth in Developing Asia. Economics, Law, and Institutions in Asia Pacific. Springer, Singapore. https://doi.org/10.1007/978-981-16-1107-0_9

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