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The Effect of Energy Consumption Towards Economic Growth: The Case of 11 Asian Countries

Author

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  • Yuvensius Sri Susilo

    (Faculty of Business and Economics, Universitas Atma Jaya Yogyakarta, Indonesia)

  • Matthew Kartawinata

    (Faculty of Business and Economics, Universitas Atma Jaya Yogyakarta, Indonesia)

  • Jonathan Ersten Herawan

    (Faculty of Business and Economics, Universitas Atma Jaya Yogyakarta, Indonesia)

Abstract

This research aims to determine and analyze the effect of Coal Consumption per capita (Kwh), Oil Consumption per capita (Kwh), Gas Consumption per capita (Kwh), and Renewable energy consumption per capita (Kwh) towards GDP per capita (current US$). This research uses GDP Per Capita (current USD) data sourced from world banks with a period from 1994 to 2021 and Data for Coal Consumption per capita (Kwh), Oil Consumption per capita (Kwh), Gas Consumption per capita (Kwh), and Renewable energy consumption per capita (Kwh) from Our Wold within a period from 1994 to 2021. The data used is data from 11 Asian countries, which is Mainland China, The Republic of Korea, Japan, India, Bangladesh, Pakistan, Thailand, Indonesia, Malaysia, Philippines, and Viet Nam. The analysis method used is Panel Data Econometrics, with Ordinary Least Square and Fixed Effect Model. The result from this research shows that Oil Consumption per capita (Kwh), Coal consumption per capita (Kwh), Gas Consumption per capita (Kwh), and Renewable energy consumption per capita (Kwh) have a positive significant effect towards GDP per capita (current USD).

Suggested Citation

  • Yuvensius Sri Susilo & Matthew Kartawinata & Jonathan Ersten Herawan, 2024. "The Effect of Energy Consumption Towards Economic Growth: The Case of 11 Asian Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 14(3), pages 600-608, May.
    • Handle: RePEc:eco:journ2:2024-03-61
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    References listed on IDEAS

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    Cited by:

    1. Su Wutyi Hnin & Amna Javed & Jessada Karnjana & Chawalit Jeenanunta & Youji Kohda, 2024. "Sustainable Energy Practices in Thailand and Japan: A Comparative Analysis," Sustainability, MDPI, vol. 16(16), pages 1-16, August.
    2. Alexander Maune & Ephraim Matanda & Ezekiel Chitombo, 2024. "Energy Consumption and Economic Growth: Evidence from SADC Countries," International Journal of Economics and Financial Issues, Econjournals, vol. 14(6), pages 403-411, October.

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    More about this item

    Keywords

    GDP Per Capita; Energy Consumption Per Capita; 11 Asian Countries; EGLS Panel Data Econometrics;
    All these keywords.

    JEL classification:

    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative
    • P18 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Energy; Environment

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