Challenge of Economic Growth and the Concern for Energy Security: A Comparative Analysis of South Asia and South-East Asia

Abstract

Energy dependence of the economic growth process on the one hand and the fast depletion of fossil fuel reserves on the other have aroused concerns for energy security across the world. In the context of developing nations, such concerns have gained prominence on at least two counts: first, these nations are at the lower levels of economic development and, thereby, have the pressing need for growth; second, they have limited affordability to finance their energy imports in the face of rapid surge in the prices of fossil fuels. But, how significant are these concerns among South Asian countries? This study provides insights in this respect with a comparative assessment of South Asia’s energy supply situation and energy policy framework vis-à-vis that in South-east Asia. In its endeavour, it focuses on the major economies of India, Pakistan and Bangladesh from the former region and Indonesia, Malaysia and Thailand from the latter, for focused analytical inquiry into energy supply situation and energy policy framework. The emerging insights indicate that the initiatives made by selected South Asian countries have remained relatively weaker than those made by their counterparts in South-east Asian region. Moreover, this comparative analysis leaves many lessons for South Asian countries to emulate in their voyage towards securing energy supply.