Energy consumption and economic growth in 12 Asian countries: panel data analysis

This study examines ‘growth, conservation, neutrality or feedback’ hypotheses in 12 Asian countries for the period 1970 to 2010, using panel causality analysis, which accounts for dependency and heterogeneity across countries, supports evidence on the direction of causality and is consistent with the neutrality hypothesis in two-thirds of these 12 Asian countries. Growth hypothesis and conservation hypothesis hold for India and Philippines, respectively. However, a feedback was found for both Thailand and Vietnam. Thereby, the findings provide important policy implication for 12 Asian countries under study.