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    Modeling the Russian Federation - Asia and the Pacific Energy Trade

    Rasoulinezhad, Ehsan; Taghizadeh-Hesary, Farhad; Yoshino, Naoyuki; Sarker, Tapan | September 2019
    Abstract
    Asia remained the largest market for energy sources in 2018. The Russian Federation has a clear vision to develop its Asian energy projects in order to provide a greater share of Asian energy imports. This paper models Russian Federation–Asia and the Pacific energy trade patterns via the gravity trade theory and GMM panel estimation for quarterly data in the period 2010–2017 for 16 selected Asia and Pacific nations. The results demonstrate that Russian Federation energy exports to Asia and the Pacific follow the Linder hypothesis. Furthermore, the findings reveal that economic growth is a positive influencing factor on the Russian Federation’s energy exports to this region. In addition, a depreciation of the national currencies of Asia and Pacific nations against the Russian ruble will accelerate the latter’s energy export volume. To improve energy security in this region, we recommend policies such as the development of an energy trading hub in Asia, increased regional pricing power, and energy import diversification and reduced distance between the Russian Federation (exporter) and Asia and the Pacific (importers).
    Citation
    Rasoulinezhad, Ehsan; Taghizadeh-Hesary, Farhad; Yoshino, Naoyuki; Sarker, Tapan. 2019. Modeling the Russian Federation - Asia and the Pacific Energy Trade. © Asian Development Bank Institute. http://hdl.handle.net/11540/11234.
    Keywords
    Energy Economics
    Energy Technology
    Energy Development Finance
    Intraregional Trade
    Regional Trade
    Trade
    Health Standards
    Health Care Cost Control
    Health Care Access
    World Trade Organization
    Trade Restrictions
    Trade Negotiations
    Trade Liberalization
    Trade Barriers
    Energy Demand
    Energy Flow
    Energy Markets
    Energy Prices
    Energy Supply
    Regional development bank
    Trade development
    Import volume
    Export volume
    Energy industry
    Electric power
    Energy security
    Price
    Supply and demand
    Regional trading blocs
    Foreign trade and employment
    Developing countries
    Industrial priorities
    Technological innovation
    Technology transfer
    Foreign trade regulation
    Industrial relations
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    Citable URI
    http://hdl.handle.net/11540/11234
    Metadata
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    adbi-wp1008.pdf (818.1Kb)
    Author
    Rasoulinezhad, Ehsan
    Taghizadeh-Hesary, Farhad
    Yoshino, Naoyuki
    Sarker, Tapan
    Theme
    Energy
    Trade
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise