Energy Use and Policy Implications for Energy Security in Asia: A Panel Data Approach

Abstract

The article aims to investigate impacts of determinants on energy use in 13 Asian countries for the past two decades (1996)(1997)(1998)(1999)(2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007)(2008)(2009)(2010)(2011)(2012)(2013)(2014)(2015) by employing a panel database. We found that electric power per capita, fossil fuel consumption, fuel exports, and gross domestic product (GDP) per unit of energy use have positives influences on energy use in Asia. However, fuel imports and investment in energy with participation of the private negatively affects energy use in this region. Our results also addressed that energy use in Asian countries still heavily depends upon fossil energy such as coal, oil, and natural gas. Indeed, our findings stated that economic growth is a positive motivation in terms of enhancing energy use in Asia. Lastly, policies are recommended to ensure energy security and foster economic growth in Asia.