The dynamic nexus of energy consumption, international trade and economic growth in BRICS and ASEAN countries: a panel causality test

Rahman, Mohammad Mafizur (2021) The dynamic nexus of energy consumption, international trade and economic growth in BRICS and ASEAN countries: a panel causality test. Energy, 229 (15). pp. 1-10. ISSN 0360-5442


Abstract

This study explores the dynamic relationship of energy consumption, international trade and foreign direct investment (FDI) with economic growth for a panel of BRICS and ASEAN countries over the period of 1990–2017 within a multivariate framework. The panel co-integration test, panel quantile regression method, impulse response function and heterogeneous panel causality test are used for empirical investigation. The results reveal the existence of a long-run equilibrium relationship among the variables. In the long run, the effects of energy consumption, international trade, capital and FDI are found to be positive and significant on the economic growth of these countries. The heterogeneous panel causality test results indicate bidirectional causality between energy consumption and economic growth, labour force and economic growth, international trade and energy consumption, and labour force and international trade. A unidirectional causality from economic growth to international trade and FDI, and from international trade and energy consumption to FDI is also identified. The implications of these results are also discussed.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Additional Information: Permanent restricted access to published version in accordance with the copyright policy of the publisher.
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Business (18 Jan 2021 -)
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Business (18 Jan 2021 -)
Date Deposited: 07 May 2021 04:58
Last Modified: 07 May 2021 04:59
Uncontrolled Keywords: energy consumption; international trade; economic growth; panel data; BRICS; ASEAN
Fields of Research (2008): 14 Economics > 1402 Applied Economics > 140202 Economic Development and Growth
14 Economics > 1403 Econometrics > 140304 Panel Data Analysis
14 Economics > 1402 Applied Economics > 140299 Applied Economics not elsewhere classified
Fields of Research (2020): 38 ECONOMICS > 3802 Econometrics > 380204 Panel data analysis
38 ECONOMICS > 3801 Applied economics > 380199 Applied economics not elsewhere classified
Socio-Economic Objectives (2008): B Economic Development > 85 Energy > 8599 Other Energy > 859999 Energy not elsewhere classified
Identification Number or DOI: https://doi.org/10.1016/j.energy.2021.120679
URI: http://eprints.usq.edu.au/id/eprint/41937

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