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Universal Financial Crisis and Association of Southeast Asian Nations CO2 Emission

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  • B. Bakhtyar

    (School of Economy, Finance and Banking, Collage of Business, University Utara Malaysia, 06010 Sintok, Malaysia.)

Abstract

The Association of Southeast Asian Nations (ASEAN) includes 10 Nations in Southeast Asia. Its population is approximately 600 million people with combined nominal gross domestic production (GDP) had grown to more than US$ 2.3 trillion, almost equal with eighth largest economy in the world. Many strong economies worldwide suffered from the global financial crisis (GFC) in 2008 which resulted dipping in global CO2 emission. This study surveyed the consumption trend of petrol, coal, and natural gas as main carbon emissions in all 10 countries from 2002 to 2012. Economic growth and its effect on CO2 emission were illustrated. Although the effect of global financial economy varies in the different selected economies, the trend of CO2 emission was not dependent on GDP changes. In contrast to global emission, the 2008 GFC and the decrease in GDP did not result in the reduction of CO2 emission among ASEAN members.

Suggested Citation

  • B. Bakhtyar, 2017. "Universal Financial Crisis and Association of Southeast Asian Nations CO2 Emission," International Journal of Energy Economics and Policy, Econjournals, vol. 7(5), pages 137-141.
    • Handle: RePEc:eco:journ2:2017-05-14
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    References listed on IDEAS

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    1. Glen P. Peters & Gregg Marland & Corinne Le Quéré & Thomas Boden & Josep G. Canadell & Michael R. Raupach, 2012. "Rapid growth in CO2 emissions after the 2008–2009 global financial crisis," Nature Climate Change, Nature, vol. 2(1), pages 2-4, January.
    2. Mr. Chris Papageorgiou & Hans Weisfeld & Ms. Catherine A Pattillo & Mr. Martin Schindler & Mr. Nikola Spatafora & Mr. Andrew Berg, 2011. "Global Shocks and their Impacton Low-Income Countries: Lessons From theglobal Financial Crisis," IMF Working Papers 2011/027, International Monetary Fund.
    3. Soytas, Ugur & Sari, Ramazan, 2009. "Energy consumption, economic growth, and carbon emissions: Challenges faced by an EU candidate member," Ecological Economics, Elsevier, vol. 68(6), pages 1667-1675, April.
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    Cited by:

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    2. French, Joseph J. & Shin, Seungho & Gurdgiev, Constantin & Naka, Atsuyuki, 2024. "Uncertainty and international fund flows: A cross-country analysis," International Review of Financial Analysis, Elsevier, vol. 94(C).

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    More about this item

    Keywords

    CO 2 emission; Major Asian Countries (MAC); Gross Domestic Production (GDP); Global Financial Crisis (GFC);
    All these keywords.

    JEL classification:

    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment
    • G01 - Financial Economics - - General - - - Financial Crises
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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