Data for: Comprehensive measurement of energy market integration in East Asia: An application of dynamic principal component analysis

Abstract of associated article: The energy market integration (EMI) in East Asia has been carried out for over a decade. Despite the efforts exerted by countries in the region, little has been known about the EMI progress. This paper innovatively applies the dynamic principal component analysis to measure the EMI and its evolution in East Asia between 1995 and 2011. The EMI is measured by using information from all the five dimensions that have been identified in the literature: (1) energy trade liberalisation; (2) investment liberalisation; (3) development of energy infrastructure and its associated institutional arrangements; (4) domestic market openness; and (5) energy pricing reform. Results show that although significant progress has been made for EMI in East Asia, there are significant cross-country disparities in different aspects. Moreover, we show that further efforts towards EMI in general should focus on liberalising national markets first, then phasing out fossil fuel subsidies and finally, liberalising investment regime since national market liberalisation is the least developed dimensions. Certain countries that lag behind in EMI need to learn from either their past experiences or from other nations and focus their efforts on their relatively weak dimensions.

相关文章摘要：东亚地区的能源市场一体化（EMI）已实施超过十年。尽管该地区各国付出了努力，但关于EMI进展的了解仍十分有限。本文创新性地运用动态主成分分析，以衡量1995年至2011年间东亚的EMI及其演变。EMI的衡量是通过利用文献中确定的五个维度所提供的信息进行的：（1）能源贸易自由化；（2）投资自由化；（3）能源基础设施及其相关制度安排的发展；（4）国内市场开放；（5）能源价格改革。结果表明，尽管东亚的EMI取得了显著进展，但在不同方面存在着显著的跨国家差异。此外，我们进一步指出，针对EMI的进一步努力应首先聚焦于国家市场的自由化，随后逐步取消化石燃料补贴，最终实现投资制度的自由化，因为国家市场自由化是最未充分发展的维度。在EMI方面落后的某些国家需要借鉴其过往经验或他国经验，并将努力集中于其相对较弱的维度。