Energy demand and supply shortages are major energy policy concerns for energy security and growth of developing economies. This study, therefore, examines the energy security and economic growth nexus of 14 non-OECD Asia countries (located in the SAARC and ASEAN regions) for the period 1996 to 2019. We estimate five different energy security measures for non-renewable energy sources to empirically investigate this nexus. These energy security measures focus on the energy availability, developability and accessibility dimensions. We employ the Panel corrected standard error (PCSE) estimator to investigate the influence of energy security indicators on growth. For robustness testing, alternative estimation methods are applied in investigating this relationship. We also assess the moderating effect of six institutional quality variables to explore the detrimental effect of energy security indicators on economic growth. The endogeneity problem is addressed by employing the panel system Generalized Method of Moments (GMM). The results reveal that an increase in the non-renewable energy demand-supply ratio will intensify energy insecurity and reduce economic growth in the region. Therefore, policymakers should shift their focus on energy supply security by investing more in green energy sources.

中文翻译：

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非经合组织亚洲的能源安全维度和经济增长：制度质量对能源政策影响的分析

能源需求和供应短缺是发展中经济体能源安全和增长的主要能源政策问题。因此，本研究考察了 14 个非经合组织亚洲国家（位于南盟和东盟地区）1996 年至 2019 年期间的能源安全与经济增长关系。我们估计了针对不可再生能源的五种不同的能源安全措施实证研究这种联系。这些能源安全措施侧重于能源的可用性、可开发性和可及性维度。我们采用面板修正标准误差（PCSE）估计器来研究能源安全指标对增长的影响。对于稳健性测试，应用替代估计方法来研究这种关系。我们还评估了六个制度质量变量的调节作用，以探讨能源安全指标对经济增长的不利影响。内生性问题通过采用面板系统广义矩量法 (GMM) 来解决。结果表明，不可再生能源供需比的上升将加剧能源不安全并降低该地区的经济增长。因此，政策制定者应将重点转向能源供应安全，加大对绿色能源的投资。