## 3 Results
### Spatial Dynamic Panel Econometric Model Results (SLM, SDPD IV)  
After obtaining the estimation results for each region, we conduct an effect analysis using the Spatial Dynamic Panel Lag IV Fixed-Effects Model. These results provide a more comprehensive understanding of the cumulative effects over time and across regions, as presented in Table 8.  
Table 8 presents the effect analysis for the whole region. The results show that the total effect of economic growth on energy consumption per capita is statistically significant in both the short and long runs. Notably, the coefficient indicates that the short-run impact \begin{table}
\begin{tabular}{c c c c c c c} \hline \hline
**Variables:** & \multicolumn{2}{c}{**BKK&VIC, CE, EA, WE**} & \multicolumn{3}{c}{**NE**} \\ \cline{2-7}
**LnEnergycons\_pc** & **Coef.** & **Z-Stat** & & **Coef.** & **Z-Stat** \\ \hline Intercept & 48.986 & *** & 3.33 & Intercept & 58.134 & *** & 2.79 \\ LnEnergycons\_pc(\(-1\)) & 0.495 & *** & 4.43 & LnEnergycons\_pc(\(-1\)) & 0.151 & *** & 3.38 \\ LnGPPC & \(-7.788\) & *** & \(-5.53\) & LnGPPC & \(-10.977\) & *** & \(-2.79\) \\ LnGPPC\({}^{2}\) & 0.319 & *** & 5.63 & LnGPPC\({}^{2}\) & 0.481 & *** & 2.76 \\ LnPop\_dens & \(-0.353\) & \(-0.91\) & LnPop\_dens & 1.144 & & 0.86 \\ LnRoaddens & 0.022 & * & 1.72 & LnRoaddens & 0.010 & *** & 3.44 \\ Spatial rho (\(\mathbf{\rho}\)) & 0.631 & *** & 2.61 & Spatial rho (\(\mathbf{\rho}\)) & 0.787 & *** & 7.21 \\ \hline Obs & & 156 & \multicolumn{2}{c}{Obs} & 120 & \\ Instruments nb. & & 18 & \multicolumn{2}{c}{Instruments nb.} & 18 & \\ Hansen J & & 10.063 & \multicolumn{2}{c}{[PERSON]} & 10.634 & \\ ([PERSON] \(p\)-value) & & 0.611 & \multicolumn{2}{c}{([PERSON] \(p\)-value)} & 0.561 & \\ \hline \hline \end{tabular}
\begin{tabular}{c c c c c c} \hline \hline
**Variables** & \multicolumn{2}{c}{**No**} & \multicolumn{2}{c}{**So**} \\ \cline{2-7}  & \multicolumn{2}{c}{**Coef.**} & \multicolumn{2}{c}{**Z-Stat**} & \multicolumn{2}{c}{**Coef.**} & \multicolumn{2}{c}{**Z-Stat**} \\ \hline Intercept & \(-29.319\) & & \(-0.67\) & Intercept & \(-3.996\) & \(-0.65\) \\ LnEnergycons\_pc(\(-1\)) & 0.297 & *** & 3.77 & LnEnergycons\_pc(\(-1\)) & 0.051 & & 0.37 \\ LnGPPC & 4.889 & & 1.23 & LnGPPC & 0.531 & & 0.34 \\ LnGPPC\({}^{2}\) & \(-0.211\) & & \(-1.24\) & LnGPPC\({}^{2}\) & \(-0.011\) & & \(-0.17\) \\ LnPop\_dens & 0.251 & & 1.11 & LnPop\_dens & 0.653 & & 0.71 \\ LnRoaddens & 0.025 & ** & 2.06 & LnRoaddens & 0.034 & *** & 3.92 \\ Spatial rho (\(\mathbf{\rho}\)) & 0.731 & *** & 5.87 & Spatial rho (\(\mathbf{\rho}\)) & 0.411 & *** & 4.46 \\ \hline Obs & & 102 & \multicolumn{2}{c}{Obs} & 84 & \\ Instruments nb. & & 17 & \multicolumn{2}{c}{Instruments nb.} & 14 & \\ Hansen J & & 8.201 & \multicolumn{2}{c}{[PERSON]} & 7.327 & \\ ([PERSON] \(p\)-value) & & 0.695 & \multicolumn{2}{c}{([PERSON] \(p\)-value)} & 0.502 & \\ \hline \hline \end{tabular} Note.: * \(p<0.10\), ** \(p<0.05\), *** \(p<0.01\).  
\end{table} 
Table 7: Regression results of the Spatial Dynamic Panel Lag IV Fixed-Effects Model (regions). of economic growth on energy consumption per capita is larger than the long-run impact. This suggests that, over time, the influence of economic growth on energy consumption per capita tends to diminish; in other words, the effect becomes regressive in the long term. Population density (_LnPop_dens_) is also statistically significant in both the short- and long-run analyses. However, the cumulative effects of this variable are more pronounced in the short run and tend to decrease over time. This implies that population density has a more substantial influence on energy consumption per capita in the short term. However, its impact gradually diminishes over time, suggesting that increased energy efficiency may occur as population density rises in the future. Additionally, when examining the direct effects (within-region effects), which occur within the provinces themselves, we find that the impact of economic growth on energy consumption per capita is statistically significant in both the short and long runs.