The Relationships between Energy Consumption, Energy Prices, and Economic Growth for Investment Opportunities in the Money Market: A Case Study of Time Series in Asian Newly Industrialized Countries
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Abstract
In this research investigation, the researchers study the causal relationships between energy consumption, energy prices, and income in six Asian newly industrialized countries i.e. India, Indonesia, Malaysia, the Philippines, Thailand, and China using the techniques of cointegration and an error-correction model. The Granger causality model found that India exhibited the short-run bidirectional causality relationship between energy consumption and income and the short-run unidirectional causality relationship with energy prices which were the cause of energy consumption. In regard to cointegration, energy consumption and energy prices were the causes of income in India and Indonesia. In Malaysia and the Philippines, the test showed that income and energy consumption were the causes of energy prices. In Thailand, energy consumption was the cause of energy prices. Therefore, energy prices and energy consumption were not the causes of income in Malaysia, the Philippines, and Thailand. These countries could use an energy conservation policy or promote the use of renewable energy without having an effect on their national incomes.
Article Details
เนื้อหาและข้อมูลในบทความที่ลงตีพิมพ์ในวารสารบริหารธุรกิจและสังคมศาสตร์ มหาวิทยาลัยรามคำแหง ถือเป็นข้อคิดเห็นและความรับผิดชอบของผู้เขียนบทความโดยตรง ซึ่งกองบรรณาธิการไม่จำเป็นต้องเห็นด้วย หรือร่วมรับผิดชอบใดๆ
บทความ ข้อมูล เนื้อหา รูปภาพ ฯลฯ ที่ได้รับการตีพิมพ์ในวารสารบริหารธุรกิจและสังคมศาสตร์ มหาวิทยาลัยรามคำแหง ถือเป็นลิขสิทธิ์ของวารสารบริหารธุรกิจและสังคมศาสตร์ มหาวิทยาลัยรามคำแหง หากบุคคลหรือหน่วยงานใดต้องการนำบทความทั้งหมดหรือส่วนหนึ่งส่วนใดไปเผยแพร่ต่อ หรือเพื่อกระทำการใดๆ จะต้องได้รับอนุญาตเป็นลายลักษณ์อักษรจากวารสารบริหารธุรกิจและสังคมศาสตร์ มหาวิทยาลัยรามคำแหง ก่อนเท่านั้น
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