Does export product diversification help to reduce energy demand: exploring the contextual evidences from the newly industrialized countries

This article investigates the impact of export product diversification, extensive margin, and intensive margin on emerging economies energy demand covering the period from 1971 to 2014. The study contributes to energy economics by unveiling the interaction between export diversification and energy d...

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Bibliographic Details
Published inTERI information digest on energy and environment Vol. 19; no. 4; p. 462
Main Authors Shahzad, U, Doǧan, B, Sinha, A, Fareed, Z
Format Journal Article
LanguageEnglish
Published New Delhi The Energy and Resources Institute 01.12.2020
Subjects
Diversification
Economic development
Economic growth
Economic impact
Emerging markets
Energy consumption
Energy demand
Energy economics
Exports
Natural resources
Urbanization
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Summary:This article investigates the impact of export product diversification, extensive margin, and intensive margin on emerging economies energy demand covering the period from 1971 to 2014. The study contributes to energy economics by unveiling the interaction between export diversification and energy demand of 10 newly industrialized countries (NICs). Owing to the growth prospect and trade volume of these nations, it is necessary to assess the various facades of export growth on the energy demand. In this pursuit, researchers have considered the export product diversification index in its aggregate and disaggregated forms (i.e., extensive margin and intensive margin) in this study. The empirical estimation is carried out based on GMM, FGLS, FMOLS, and DOLS techniques. The empirical results demonstrate that export diversification, extensive margin, and intensive margin help to reduce the overall energy demand in NICs. Further, the empirical outcomes identify that economic growth, urbanization, and natural resources increase energy consumption. The study discusses fruitful policy implications regarding the exports diversification and energy demand nexus for emerging economies. (1 Figure, 7 Tables, 96 References)
ISSN:0972-6721
1875-9297