Date of Award

2023

Document Type

Dissertation

Degree Name

Master of Science in Maritime Affairs

Specialization

Shipping Management & Logistics

Campus

Malmö, Sweden

First Advisor

Satya Sahoo

Abstract

Energy trade and consumption constitute vital components of international trade, a significance that has been amplified by escalating global industrialization and globalization. Nonetheless, the patterns of demand, trade, and utilization of energy differ markedly across various categories of economies, as delineated by the United Nations into Developed, Developing, and Least Developed Nations.

This study endeavors to elucidate the influence of international energy trade and consumption on the economic development trajectories of these three distinct categories of nations. Employing linear panel regression methodologies on panel data sets spanning the period from 1995 to 2021 for each category, the analysis reveals that international energy trade exerts a notable impact on the economic prosperity of all examined categories, albeit with varying degrees of intensity and characteristics. Specifically, both energy exports and imports have been found to exert a considerable influence on the per capita Gross Domestic Product (GDPs) of developed and developing nations, with the magnitude of this impact proving greater in developed economies. In contrast, Least Developed Nations demonstrated a pronounced inclination toward energy imports, indicating a lack of the requisite capacity to produce, utilize, or export energy at commercially significant scales.

Additionally, energy consumption emerged as a positive causal factor affecting the economies of all categorized nations, albeit more significantly in developed countries compared to their developing and least-developed counterparts. In terms of energy types, oil electricity appeared to significantly impact the per capita GDPs across all categories of countries. Notably, the impact was positive for developing and least developed nations, but negative for developed nations. Conversely, gas electricity showed a positive and significant correlation with the per capita GDPs of developed and least-developed countries, however, its influence on developing nations remained inconclusive due to the multicollinearity with per capita energy consumption within this category.

These findings carry significant policy implications for the spectrum of economies under consideration, particularly in shaping their international energy trade and consumption strategies. Given the current climate change efforts and heightened global environmental concerns over fossil energy, future research endeavours may delve into the potential impact of various forms of renewable energy on the economies of developed, developing and least developed nations

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