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Analyzing The Impact Of Causal Factors On Political Management To Determine Sustainability Policy Under Environmental Law: Enriching The Covariance-based Semxi Model
2022
Dergi:  
International Journal of Energy Economics and Policy
Yazar:  
Özet:

Abstract This research aims to develop a causal relationship model on political management for sustainability policy formation under Thai environmental law by applying the best and valid model with a non-spurious property called the Covariance-based on Structural Equation Model with exogenous variables (Covariance-based SEMxi Model). This newly-developed model is in distinction with any past models as it is made effectively applicable to any sectors across areas. The model can also be utilized to design a long-term forecasting model with the ability to determine appropriate future scenarios. When assessing the covariance-based SEMxi model performance, the mean absolute percentage error (MAPE) and the root mean square error (RMSE) are estimated at 1.19% and 1.30%, respectively, in comparison of other models, including Gray-Autoregressive Integrated Moving Average Model (GM-ARIMA), Gray Model (GM), Back Propagation Neural Network (BP), Artificial Neural Natural Model (ANN), and Multiple Regression Model (MR). As for the results, this research reveals a direct impact of economic factors on environmental and social factors. In the meanwhile, social factors have a direct impact on environmental and economic factors. The research also indicates a direct effect on the environment with a maximal magnitude of 67%. Whereas a direct effect of social factors on the environment is detected at the magnitude of 55%. These effects are perceived to exceed the specified carrying capacity set by Thailand. In addition, a causal relationship is observed between economic and social factors, where the environment is found with the lowest error correction capability of only 5 percent. At the same time, economic and social factors are noticed with greater correction capability of 59% and 31%, respectively. This finding implies that the ecosystem will experience slow recovery whenever it deteriorates. Hence, the government must place a higher concentration on the environment, while different measures on environmental legislation should be closely controlled to contain any future damage. Besides, energy consumption must be managed not to exceed the established carrying capacity by simultaneously implementing both proactive and reactive measures. This process can be strengthened by optimizing the newly-introduced model produced by this work for a scenario design in policy management to attain sustainability. Downloads Download data is not yet available. Downloads FULL TEXT Published 2022-07-19 How to Cite Sutthichaimethee, P., & Jittawiriyanukoon, C. (2022). Analyzing the Impact of Causal Factors on Political Management to Determine Sustainability Policy under Environmental Law: Enriching the Covariance-based SEMxi Model. International Journal of Energy Economics and Policy, 12(4), 282–293. https://doi.org/10.32479/ijeep.11541 More Citation Formats ACM ACS APA ABNT Chicago Harvard IEEE MLA Turabian Vancouver Download Citation Endnote/Zotero/Mendeley (RIS) BibTeX Issue Vol. 12 No. 4 (2022) Section Articles License Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. Most read articles by the same author(s) Pruethsan Sutthichaimethee, Harlida Abdul Wahab, A Forecasting Model in Managing Future Scenarios to Achieve the Sustainable Development Goals of Thailand's Environmental Law: Enriching the Path Analysis-VARIMA-OVi Model , International Journal of Energy Economics and Policy: Vol. 11 No. 4 (2021) Pruethsan Sutthichaimethee, Danupon Ariyasajjakorn, Apinyar Chatchorfa, Boonton Dockthaisong, Sthianrapab Naluang, Sirapatsorn Wongthongdee, Nachatchaya Thongjan, Indicators of Environmental and Economic Problems Priority Arising from Energy Use in Food Manufacturing Sector in Realizing Sustainable Development Policy under Thai Environmental Law Framework , International Journal of Energy Economics and Policy: Vol. 11 No. 5 (2021) Pruethsan Sutthichaimethee, Chanintorn Jittawiriyanukoon, The Impact of Causal Factors Relationship over the Changes in Future Scenario Management under the Sustainability Policy of Thailand , International Journal of Energy Economics and Policy: Vol. 12 No. 5 (2022) Pruethsan Sutthichaimethee, Danupon Ariyasajjakorn, The Management Efficiency of the Sustainable Development Policy under Thailand's Energy Law: Enriching the SEM-based on the ARIMAXi model , International Journal of Energy Economics and Policy: Vol. 11 No. 5 (2021) Pruethsan Sutthichaimethee, Jindamas Sutthichaimethee, Chittinan Vutikorn, Danupon Ariyasajjakorn, Sirapatsorn Wongthongdee, Srochinee Siriwattana, Apinyar Chatchorfa, Borworn Khomchunsri, Guidelines for Increasing the Effectiveness of Thailand’s Sustainable Development Policy based on Energy Consumption: Enriching the Path-GARCH Model , International Journal of Energy Economics and Policy: Vol. 13 No. 1 (2023) Pruethsan Sutthichaimethee, Danupon Ariyasajjakorn, A Forecasting Model on Carrying Capacity for Government's Controlling Measure under Environmental Law in Thailand: Adapting Non-Recursive Autoregression based on the Var-X Model , International Journal of Energy Economics and Policy: Vol. 10 No. 6 (2020) Make a Submission Make a Submission Dergi Kapağı

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International Journal of Energy Economics and Policy

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International Journal of Energy Economics and Policy