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.关联文章摘要：东亚能源市场一体化（Energy Market Integration, EMI）的推进已历时十余年。尽管该区域各国付出了诸多努力，但学界对其一体化进程的了解仍较为有限。本文创新性地采用动态主成分分析法，对1995至2011年间东亚地区的能源市场一体化水平及其演进历程进行测度。本研究基于现有学术文献已明确的五大维度信息开展一体化水平评估：(1) 能源贸易自由化；(2) 投资自由化；(3) 能源基础设施建设及相关制度安排；(4) 国内市场开放；(5) 能源定价改革。研究结果显示，东亚能源市场一体化虽已取得显著进展，但各国在各维度的推进程度仍存在显著差异。此外，本文进一步指出，推进东亚能源市场一体化的整体策略应优先聚焦国内市场开放，其次逐步取消化石燃料补贴，最后完善投资自由化机制——这是因为国内市场开放是五大维度中发展最为滞后的一环。部分在能源市场一体化进程中相对滞后的国家，可借鉴本国过往实践或他国先进经验，将建设重心投向自身相对薄弱的维度。