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Energy Insecurity In The Asean Region: The Implications Of Energy Policy Reform

Author

Listed:
  • BUDY P. RESOSUDARMO

    (Arndt-Corden Department of Economics, Crawford School of Public Policy, Australian National University, Australia)

  • DITYA A. NURDIANTO

    (#x2020;Indonesian Ministry of Foreign Affairs, Indonesia)

  • YUVENTUS EFFENDI

    (Arndt-Corden Department of Economics, Crawford School of Public Policy, Australian National University, Australia‡Indonesian Ministry of Finance, Indonesia)

Abstract

Energy insecurity has become an alarming issue among ASEAN countries. One proposal to overcome this energy insecurity is to integrate energy markets among ASEAN countries. In order to do this integration, a major energy policy reform, particularly the elimination of energy subsidy policies, is needed. The main goal of this paper, hence, is to analyze the impact of an energy subsidy reduction policy in ASEAN, particularly in terms of economic growth, environmental improvement and welfare distribution. To achieve this goal, this paper uses a multi-country computable general equilibrium (CGE) for Inter-Regional System Analysis for ASEAN (IRSA-ASEAN) to conduct the analysis. This paper finds that countries in which energy subsidies significantly exist, i.e., Indonesia and Malaysia, stand to gain much from eliminating these subsidies. Gross domestic product (GDP) is likely to increase, with the added benefit of reduced CO2 emissions. In terms of welfare distribution, this policy appears to be progressive in nature.

Suggested Citation

  • Budy P. Resosudarmo & Ditya A. Nurdianto & Yuventus Effendi, 2021. "Energy Insecurity In The Asean Region: The Implications Of Energy Policy Reform," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 66(02), pages 345-368, March.
    • Handle: RePEc:wsi:serxxx:v:66:y:2021:i:02:n:s0217590820430079
    DOI: 10.1142/S0217590820430079
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