Economic development, energy market integration and energy demand: Implications for East Asia

Sheng, Y; Shi, X; Zhang, D

Economic development, energy market integration and energy demand: Implications for East Asia

Sheng, Y Shi, X

Zhang, D

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Publication Type:: Journal Article
Citation:: Energy Strategy Reviews, 2013, 2 (2), pp. 146 - 152
Issue Date:: 2013-09-01

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Field	Value	Language
dc.contributor.author	Sheng, Y	en_US
dc.contributor.author	Shi, X https://orcid.org/0000-0001-9653-7395	en_US
dc.contributor.author	Zhang, D	en_US
dc.date.issued	2013-09-01	en_US
dc.identifier.citation	Energy Strategy Reviews, 2013, 2 (2), pp. 146 - 152	en_US
dc.identifier.issn	2211-467X	en_US
dc.identifier.uri	http://hdl.handle.net/10453/117275
dc.description.abstract	This paper uses a general method of moment regression technique to estimate an energy demand function with a dataset covering 71 countries between 1965 and 2010. The estimated results show that countries undergoing rapid economic growth may show relatively higher income and price elasticities in the long run. The higher income elasticities and lower price elasticity in the short run of rapid growing countries may impose pressure on energy demand in the domestic and international markets. Energy market integration can help to reduce such pressure by smoothing energy demand through lowering its income elasticity and creating a flexible energy market through increasing its price elasticity. These findings have important implications for forecasting energy demand and promoting international cooperation in East Asia. © 2012 Elsevier Ltd.	en_US
dc.relation.ispartof	Energy Strategy Reviews	en_US
dc.relation.isbasedon	10.1016/j.esr.2012.12.011	en_US
dc.rights	info:eu-repo/semantics/closedAccess
dc.title	Economic development, energy market integration and energy demand: Implications for East Asia	en_US
dc.type	Journal Article
utslib.citation.volume	2	en_US
utslib.for	140205 Environment and Resource Economics	en_US
utslib.for	160507 Environment Policy	en_US
utslib.for	1402 Applied Economics	en_US
utslib.for	1605 Policy and Administration	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (International)
pubs.organisational-group	/University of Technology Sydney/DVC (International)/Australia-China Relations Institute
utslib.copyright.status	closed_access	*
pubs.issue	2	en_US
pubs.publication-status	Published	en_US
pubs.volume	2	en_US

Abstract:

This paper uses a general method of moment regression technique to estimate an energy demand function with a dataset covering 71 countries between 1965 and 2010. The estimated results show that countries undergoing rapid economic growth may show relatively higher income and price elasticities in the long run. The higher income elasticities and lower price elasticity in the short run of rapid growing countries may impose pressure on energy demand in the domestic and international markets. Energy market integration can help to reduce such pressure by smoothing energy demand through lowering its income elasticity and creating a flexible energy market through increasing its price elasticity. These findings have important implications for forecasting energy demand and promoting international cooperation in East Asia. © 2012 Elsevier Ltd.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/117275