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This study investigates the GDP–energy consumption nexus for five Asian countries (ASEAN‐5) during the 1971–2013 period by estimating the asymmetric long‐run as well as short‐run effects in a cointegration framework. We apply the recently developed nonlinear autoregressive distributed lags (NARDL) model of Shin et al. () for individual country‐by‐country analysis. Meanwhile, we employ the pooled mean group (PMG) estimator of Pesaran and Smith () and Pesaran et al. () for the ASEAN‐5 countries pooled as a panel set. The empirical results, in case of country‐by‐country, show long‐run asymmetry for Singapore and Thailand only, when considering structural breaks. However, the panel analysis confirms asymmetry for the sample data. Finally, the causality tests employed show mixed results for both set‐ups: country‐by‐country and panel sample.

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