The effect of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in the five biggest renewable energy producing countries in Southeast Asia

Energy is seen as a necessary resource for economic progress, with policymakers continuously looking for sustainable solutions to increasing energy demand. Renewable energy has been recognized as a sustainable solution to energy security for its ability to ensure energy demand and lessen environment...

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Main Authors: Domingo, Miguel John M., Dominguez, Piero Antonio D., Ignacio, Maria Regina T., Tañega, Maria Bianca Monica R.
Format: text
Language:English
Published: Animo Repository 2021
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Online Access:https://animorepository.dlsu.edu.ph/etdb_econ/25
https://animorepository.dlsu.edu.ph/cgi/viewcontent.cgi?article=1028&context=etdb_econ
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Institution: De La Salle University
Language: English
id oai:animorepository.dlsu.edu.ph:etdb_econ-1028
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spelling oai:animorepository.dlsu.edu.ph:etdb_econ-10282021-09-30T07:41:03Z The effect of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in the five biggest renewable energy producing countries in Southeast Asia Domingo, Miguel John M. Dominguez, Piero Antonio D. Ignacio, Maria Regina T. Tañega, Maria Bianca Monica R. Energy is seen as a necessary resource for economic progress, with policymakers continuously looking for sustainable solutions to increasing energy demand. Renewable energy has been recognized as a sustainable solution to energy security for its ability to ensure energy demand and lessen environmental degradation. Vietnam, Thailand, Indonesia, Malaysia, and the Philippines are the five biggest renewable energy producing countries in Southeast Asia, who are still looking to increase renewable energy production. The capital-intensive nature of renewable energy signifies the need to look at economic and technical factors. The study looks into the causal effects of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in these five countries using panel data in the years 1996 to 2018. The tests of assumptions have found that multicollinearity was not a problem, while correcting for cross-sectional dependence, heteroskedasticity, and autocorrelation. The Fixed Effects (FE) model was found to be the most suitable for the study. The results of the study found that the measure of industrialization, or the variable ratio of net manufacturing output to gross domestic product, and credit access, or the variable lending interest rates, had the most impact on renewable energy production. The study recommends the implementation of policies that ease the access to capital, as it is the most applicable to the five countries and will have the greatest impact on increasing renewable energy production. Keywords: ASEAN, Renewable Energy, Panel Regression, Government Policy, Renewable Energy Production JEL Classification: O32, Q02, Q28, Q42, Q43, Q48 2021-09-17T07:00:00Z text application/pdf https://animorepository.dlsu.edu.ph/etdb_econ/25 https://animorepository.dlsu.edu.ph/cgi/viewcontent.cgi?article=1028&context=etdb_econ Economics Bachelor's Theses English Animo Repository Renewable energy sources--Southeast Asia Energy policy--Southeast Asia Economics
institution De La Salle University
building De La Salle University Library
continent Asia
country Philippines
Philippines
content_provider De La Salle University Library
collection DLSU Institutional Repository
language English
topic Renewable energy sources--Southeast Asia
Energy policy--Southeast Asia
Economics
spellingShingle Renewable energy sources--Southeast Asia
Energy policy--Southeast Asia
Economics
Domingo, Miguel John M.
Dominguez, Piero Antonio D.
Ignacio, Maria Regina T.
Tañega, Maria Bianca Monica R.
The effect of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in the five biggest renewable energy producing countries in Southeast Asia
description Energy is seen as a necessary resource for economic progress, with policymakers continuously looking for sustainable solutions to increasing energy demand. Renewable energy has been recognized as a sustainable solution to energy security for its ability to ensure energy demand and lessen environmental degradation. Vietnam, Thailand, Indonesia, Malaysia, and the Philippines are the five biggest renewable energy producing countries in Southeast Asia, who are still looking to increase renewable energy production. The capital-intensive nature of renewable energy signifies the need to look at economic and technical factors. The study looks into the causal effects of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in these five countries using panel data in the years 1996 to 2018. The tests of assumptions have found that multicollinearity was not a problem, while correcting for cross-sectional dependence, heteroskedasticity, and autocorrelation. The Fixed Effects (FE) model was found to be the most suitable for the study. The results of the study found that the measure of industrialization, or the variable ratio of net manufacturing output to gross domestic product, and credit access, or the variable lending interest rates, had the most impact on renewable energy production. The study recommends the implementation of policies that ease the access to capital, as it is the most applicable to the five countries and will have the greatest impact on increasing renewable energy production. Keywords: ASEAN, Renewable Energy, Panel Regression, Government Policy, Renewable Energy Production JEL Classification: O32, Q02, Q28, Q42, Q43, Q48
format text
author Domingo, Miguel John M.
Dominguez, Piero Antonio D.
Ignacio, Maria Regina T.
Tañega, Maria Bianca Monica R.
author_facet Domingo, Miguel John M.
Dominguez, Piero Antonio D.
Ignacio, Maria Regina T.
Tañega, Maria Bianca Monica R.
author_sort Domingo, Miguel John M.
title The effect of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in the five biggest renewable energy producing countries in Southeast Asia
title_short The effect of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in the five biggest renewable energy producing countries in Southeast Asia
title_full The effect of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in the five biggest renewable energy producing countries in Southeast Asia
title_fullStr The effect of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in the five biggest renewable energy producing countries in Southeast Asia
title_full_unstemmed The effect of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in the five biggest renewable energy producing countries in Southeast Asia
title_sort effect of economic growth, measure of industrialization, credit access, energy import dependency, and oil price on renewable energy production in the five biggest renewable energy producing countries in southeast asia
publisher Animo Repository
publishDate 2021
url https://animorepository.dlsu.edu.ph/etdb_econ/25
https://animorepository.dlsu.edu.ph/cgi/viewcontent.cgi?article=1028&context=etdb_econ
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