Impacts of oil price uncertainty on energy efficiency, economy, and environment of Malaysia: stochastic approach and CGE model

Sun, Hao; Lü, Shun; Solaymani, Saeed

doi:10.1007/s12053-020-09924-x

Cited by 13 publications

(5 citation statements)

References 43 publications

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“…Moreover, following the actual business cycle models of Kim and Loungani (1992), energy costs may also influence economic activity through their impact on labor and capital productivity. The existing literature has produced growing evidence focusing on the impact of oil prices on macro-determinants (Farzanegan and Markwardt, 2009;Rafiq et al, 2009;Qianqian, 2011;Jia et al, 2021;Sun et al, 2021). Chaudhry, Azali (Chaudhry et al, 2020), for instance, investigated the effects of oil prices on Pakistan's environmental degradation from 1975 to 2018.…”

Section: Oil Price and Renewable Energymentioning

confidence: 99%

Symmetric and asymmetric nexus between economic policy uncertainty, oil price, and renewable energy consumption in the United States, China, India, Japan, and South Korea: Does technological innovation influence?

Guo

Qamruzzaman

2022

Front. Energy Res.

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This study aimed to gauge the impact of economic policy uncertainty, oil price, and technological innovation on renewable energy consumption in the top five oil-importing nations for the period 1990–2021. The study employed a linear and nonlinear framework in exploring the association and variable elasticities on renewable energy consumption. According to linear assessment, the study documented positive effects from technological innovation and oil price volatility, whereas economic policy uncertainty adversely caused renewable energy integration, especially in the long run. The study disclosed long-run and short-run asymmetric connections between TI, EPU, and REC for asymmetric assessment. For directional causality, the study documented feedback hypothesis that explain the nexus between oil price and renewable energy consumption in China [OIL←→REC]; economic policy uncertainty and renewable energy consumption [EPU←→REC] in China, India, Japan, and South Korea; and technological innovation and renewable energy consumption [TI←→REC] in South Korea. On a policy note, the study established that efficient energy transition from fossil fuel to renewable energy demands economic stability and, therefore, stability must be ensured. Furthermore, oil prices should be considered while formulating energy policies.

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Section: Oil Price and Renewable Energymentioning

confidence: 99%

Symmetric and asymmetric nexus between economic policy uncertainty, oil price, and renewable energy consumption in the United States, China, India, Japan, and South Korea: Does technological innovation influence?

Guo

Qamruzzaman

2022

Front. Energy Res.

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“…When the crude oil global market increase, Malaysia also gain economical benefit as the oil production country (Rahim and Liwan, 2012). Similar finding that indicates the relationship between the oil price and exchange rate, found there is positive impact for the Malaysia as the price of global market increased (Sun et. al., 2021;Wong and Shamsudin, 2017;Jalil et.…”

Section: Literature Reviewmentioning

confidence: 56%

Determinants of Tourism Demand in Malaysia: A Study of Chinese and Indian Tourist from Macroeconomics Perspective

Ling,

Ping,

Ching

et al. 2024

IJAREMS

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Tourism is one of Malaysia's key sources of income and has a considerable impact on the nation's gross domestic product (GDP). According to the Global Travel and Tourism Council, tourism and travel generated RM240.2 billion (USD 57.5 billion) in year 2019, accounting for 15.9% of Malaysia's overall GDP. Among the six top tourist arrivals in Malaysia, four are from Malaysia's neighbor countries, except China and India. As China and India accounted for 2/3 Asian population, this study aims to determine the factors that attract Chinese and Indian tourist inflows into Malaysia from a macroeconomics perspective. Quantitative survey method has been used for this study and secondary data from Tourism Malaysia, International Monetary Fund (IMF) and World Bank has been collected. The determinants include real income of China and India, crude oil price, as well as currency exchange rate. Quarterly observation has been used for this study. The period covered in this study is from 2000 quarter one to 2019 quarter 4. The result shown there is long run relationship between real incomes, crude oil price and currency exchange rate with Chinese tourist arrival in Malaysia whereas the long run relationship does not exists for Indian tourist arrival in Malaysia.

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“…It is believe that the improvement of electricity EE is not only the key to this deadlock but also an important guarantee for energy conservation and emission reduction in Malaysia (Babatunde et al 2021). It is often less costly for a developing country like Malaysia to conserve energy than searching for a new source (Sun and Solaymani 2021;Fernando and Hor 2017). Despite everyone's enthusiasm for clean and green energy, many have forgotten to realize that the most important "fuel" in Malaysia can originate from energy conserved through improved efficiency (Oh et al 2018).…”

Section: The Rationale Behind Energy Efficiency In Malaysiamentioning

confidence: 99%

Energy Efficiency Policies in Malaysia: A Critical Evaluation from the Sustainable Development Perspective

Aktar

Alam

Harun

2022

Environ Sci Pollut Res

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Reduced electricity demand through the implementation of an energy efficiency policy is a central pillar of the Malaysian government's energy strategy. Energy efficiency first emerged as part of Malaysia's energy policy agenda in 1979 but only came into force during the 2000s. Initially, it was seen from global fears about the shortage of fossil fuels, then as a way of combating climate change. This paper offers a comprehensive review of Malaysia's energy policies with a focus on adopting policies to improve energy efficiency. Starting with Malaysia's preliminary policy in response to the OPEC-driven global oil crisis in 1973, the paper discusses how policymakers are considering energy efficiency from Malaysia's sustainable development perspective and what relevant government efforts have been made to improve it. The review evaluates the progress that has been made over the past 25 years to address energy efficiency in the economy and highlights the achievements and remaining difficulties. Findings show that the level of energy efficiency while having shown improvement during 1990-2015, was lower than expected. In terms of electricity intensity of GDP, Malaysia has a relatively large position among the ASEAN countries and the world's largest electricity consumers. Researchers, scientists, and practitioners will benefit from the extensive review material of this study, which will help them better understand energy efficiency and the sustainability strategy implemented in Malaysia to date.

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Impacts of oil price uncertainty on energy efficiency, economy, and environment of Malaysia: stochastic approach and CGE model

Cited by 13 publications

References 43 publications

Symmetric and asymmetric nexus between economic policy uncertainty, oil price, and renewable energy consumption in the United States, China, India, Japan, and South Korea: Does technological innovation influence?

Symmetric and asymmetric nexus between economic policy uncertainty, oil price, and renewable energy consumption in the United States, China, India, Japan, and South Korea: Does technological innovation influence?

Determinants of Tourism Demand in Malaysia: A Study of Chinese and Indian Tourist from Macroeconomics Perspective

Energy Efficiency Policies in Malaysia: A Critical Evaluation from the Sustainable Development Perspective

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