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Modeling natural gas consumption, capital formation, globalization, CO2 emissions and economic growth nexus in Malaysia: Fresh evidence from combined cointegration and causality analysis
Energy Strategy Reviews ( IF 8.2 ) Pub Date : 2020-07-28 , DOI: 10.1016/j.esr.2020.100526
Mfonobong Udom Etokakpan , Sakiru Adebola Solarin , Vedat Yorucu , Festus Victor Bekun , Samuel Asumadu Sarkodie

The discovery of natural gas in the 20th century has increased aggregate energy consumption while spurring economic development. However, very little attention has been given in the energy economics literature, especially in Malaysia. As such, this paper primarily revisited the natural gas — economic growth nexus hypothesis in the case of Malaysia. The study was conducted with data from 1980 to 2014 in a multivariate framework with the inclusion of capital formation, globalization, and CO2 emissions to avoid omitted variable bias. We investigated the stationarity properties with a method that accommodates a single structural break. Subsequently, the novel combined co-integration test in conjunction with several techniques were used to assess the magnitude of the long-run equilibrium relationship. The empirical findings trace the long-run equilibrium relationship among the variables over the sampled period. The Granger causality test analysis confirmed the growth-energy driven hypothesis in Malaysia. The findings call for the adoption of cleaner and environmentally friendly energy sources in the Malaysian energy mix. We highlight the need for pragmatic strides from both private and public energy sector stakeholders to prioritize clean and accessible energy in line with the Sustainable Development Goals.



中文翻译:

对马来西亚的天然气消耗,资本形成,全球化,CO 2排放和经济增长联系进行建模:组合协整和因果关系分析的新证据

20世纪天然气的发现增加了总能源消耗,同时促进了经济发展。但是,在能源经济学文献中,特别是在马来西亚,人们很少关注。因此,本文主要重新探讨了天然气-在马来西亚的情况下,经济增长与联系假说有关。该研究以1980年至2014年的数据为多变量框架,其中包括资本形成,全球化和CO 2避免遗漏变量偏差。我们用适应单个结构破坏的方法研究了平稳性。随后,结合多种技术的新型联合协整测试用于评估长期均衡关系的大小。实证结果追溯了采样期间变量之间的长期均衡关系。格兰杰因果关系检验分析证实了马来西亚增长动力驱动的假设。调查结果要求在马来西亚的能源结构中采用更清洁,环保的能源。我们强调,私营和公共能源部门的利益相关者都需要务实地迈出大步,以根据可持续发展目标优先考虑清洁和可及能源。

更新日期:2020-07-28
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