EFFECTS OF LAND,LABOUR AND ENERGY ON ECONOMIC GROWTH IN ASIA’S EMERGING MARKET AND DEVELOPING ECONOMIES(EMDES)

摘要

Emerging market and developing economies(EMDES)have played an important role in in the global economy in recent years,and they account for more than 75 percent of global growth in output and consumption in 2017(IMF,2017).According to forecasts from the International Monetary Fund(IMF),Asia’s developing economies are poised to expand an average of 6.5 percent in 2018,which is 4.9 percent for all emerging markets(Karunungan,2018).Singapore's central bank chief said that emerging markets in Asia are in a stronger position than others because of solid economic growth prospects,low inflation and strong reserve buffers(Businesstimes,2018).However,inhibited by natural resource,labour supply,and local energy is likely limit potential output growth of EMDEs economies.Hubacek and van den Bergh(2002)found that land-use changes are most often directly linked with economic decisions.Futhermore,Walmsley et al.,(2015)mentioned that East and South-East Asia will face major demographic changes over the next few decades with many countries'labour forces starting to decline.Last but not least,energy efficiency would have a positive impact on macro economic factors,which can drive Asia’s economic growth(Sharma et al.,2014).This paper investigates the effects of land use,labour supply and energy consumption with relation to gross domestic product(GDP)per capita and technology transfer in Asia’s economic growth in EMDEs.The 12 countries in this study include Bangladesh,Brunei Darussalam,Cambodia,China,India,Indonesia,Malaysia,Myanmar,Nepal,Philippines,Sri Lanka and Thailand.The data are provided by the World Bank,consisting of yearly data for the 20 years encompassing the period 1995 to 2014,with such data subjected to panel data analysis.