Pengaruh Konsumsi Listrik Dan Pembangunan Keuangan Terhadap Pertumbuhan Ekonomi ASEAN Aplikasi Data Panel ARDL



Economic Growth, Consumption, Financia Development, Panel ARDL


This study aims to analyze the influence of electricity and financial development on economic growth in ASEAN by using panel ARDL panel. Panel data in this study from 1999 to 2014 and covers 8 Countries, with a total of 140 samples. The results showed that electricity consumption and financial development dose not very effect on economic growth both the short and long run. Short-term influence is better rather than long-term.


Aastveit, K. A., Natvik, G. J., & Sola, S. (2017). Economic uncertainty and the influence of monetary policy. Journal of International Money and Finance, 76, 50-67.

Addessi, W. (2018). Population age structure and consumption expenditure composition: Evidence from European countries. Economics Letters, 168, 18-20.

Alp, E., & Seven, U. (2019). The dynamics of household final consumption: The role of wealth channel. Central Bank Review, 19, 21-32.

Alvarez-Cuadrado, F., & Long, N. V. (2011). The relative income hypothesis. Journal of Economic Dynamics & Control, 35, 1489-1501.

Badalayan, G., Herzfeld, T., & Rajcaniova, M. (2014). Transport infrastructure and economic growth: Panel data approach for Armenia, Georgia and Turkey. Review of Agricultural and Applied Economics, 17, 22-31.

Berge, T. J. (2018). Understanding survey-based inflation expectations. International Journal of Forecasting, 34, 788–801.

Bussolo, M., Schotte, S., & Matytsin, M. (2017). Accounting for the bias against the life-cycle hypothesis in survey data: An example for Russia. The Journal of the Economics of Ageing, 9, 185-207.

Chan, K. S., Dang, V. Q., Li, T., & So, J. Y. (2016). Under-consumption, trade surplus, and income inequality in China. International Review of Economics and Finance, 43, 241-256.

Chao, C.-C., Laffargue, J.-P., & Yu, E. (2011). The Chinese saving puzzle and the life-cycle hypothesis: A revaluation. China Economic Review, 22, 108-120.

Deaton, A. (2018). What do self-reports of wellbeing say about life-cycle theory and policy. Journal of Public Economics, 162, 18-25.

DeJuan, J. P., & Seater, J. J. (1999). The permanent income hypothesis: Evidence from the consumer expenditure survey. Journal of Monetary Economics, 43, 351-376.

Drechsel-Grau, M., & Schmid, K. D. (2014). Consumption–savings decisions under upward-looking comparisons. Journal of Economic Behavior & Organization, 106, 254–268.

Easaw, J., Golinelli, R., & Malgarini, M. (2013). What determines households inflation expectations? Theory and evidence from a household survey. European Economic Review, 61, 1-13.

Ehling, P., M. G., Heyerdahl-Larsen, C., & Illeditsch, P. (2018). Disagreement about inflation and the yield curve. Journal of Financial Economics, 127, 459–484.

Etheridge, B. (2015). A test of the household income process using consumption and wealth data. European Economic Review, 78, 129-157.

Hasan, M. S. (2010). The long-run relationship between population and per capita income growth in China. Journal of Policy Modeling, 32, 355-372.

Junior, L. C., & Teixeira, J. R. (2018). Structural change with different consumption profiles in a pure labour economy. Structural Change and Economic Dynamics, 47, 28-34.

Kakar, V., & Jr, G. E. (2018). Role of cash and costs of inflation for different income groups in the U.S. Economic Modelling, 16, 1-17.

Kaplan, G., & Schulhofer-Wohl, S. (2017). Inflation at the household level. Journal of Monetary Economics, 91, 19-38.

Kim, H. Y. (2017). The permanent income hypothesis,transitional dynamics, and excess sensitivity of consumption. Structural Change and Economic Dynamics, 40, 10-25.

Koivu, T. (2012). Monetary policy, asset prices and consumption in China. Economic Systems, 36, 307-325.

Li, S., Wei, L., & Xu, Z. (2017). Dynamic asset allocation and consumption under inflation inequality: The impacts of inflation experiences and expectations. Economic Modelling, 61, 113-125.

Lim, S., & Basnet, H. C. (2017). International migration, workers’ remittances and permanent income hypothesis. World Development, 96, 438-450.

Ni, S., & Seol, Y. (2014). New evidence on excess sensitivity of household consumption. Journal of Monetary Economics, 63, 80–94.

Paradiso, A., Casadio, P., & Rao, B. B. (2012). US inflation and consumption: A long-term perspective with a level shift. Economic Modelling, 29, 1837-1849.

Phan, C. T., Sun, S., Zhou, Z.-Y., & Beg, R. (2019). Does microcredit increase household food consumption? A study of rural Vietnam. Journal of Asian Economics, 62, 39-51.

Rappaport, J. (2008). Consumption amenities and city population density. Regional Science and Urban Economics, 38, 533-552.

Tsuboi, M. (2019). Consumption, welfare, and stochastic population dynamics when technology shocks are (Un)tied. Economic Modelling, 79, 74-85.

Wang, N. (2006). Generalizing the permanent-income hypothesis: Revisiting Friedman’s conjecture on consumption. Journal of Monetary Economics, 53, 737-752.

Xuan, C., Kim, C.-J., & Kim, D. H. (2019). New dynamics of consumption and output. Journal of Macroeconomics, 60, 50-59.

Zhao, M., & Hsu, M. (2012). China's economic fluctuations and consumption smoothing: Is consumption more volatile than output in China? China Economic Review, 23, 918-927.

Ziliak, J. P. (1998). Does the choice of consumption measure matter? An application to the permanent-income hypothesis. Journal of Monetary Economics, 41, 201-216.




How to Cite

Rasha, N. . (2022). Pengaruh Konsumsi Listrik Dan Pembangunan Keuangan Terhadap Pertumbuhan Ekonomi ASEAN Aplikasi Data Panel ARDL. Jurnal Manajemen, Ekonomi, Keuangan Dan Akuntansi, 3(1), 528–535. Retrieved from