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Energy Demands The Adjustment Problem
A Postscript on Low GDP Growth
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Analysis annual GDP growth Appendix assumptions with respect Balassa benchmark capital and labor centrally planned economies Choe commercial energy Compensatorg compensatory capital flows constant prices consultant demand for energy demand for primary developing countries regions difficult demand adjustments dollars domestic energy supplies easy egrg elasticities of demand elasticity of substitution EMF's reference Energy Information Administration Energy Modeling Forum estimates ETA-MACRO GDP elasticities GDP growth rates High GDP growth IBRD income elasticities inputs international prices international trade long-term price elasticities Low GDP growth MBD 114 MBD MBD shortfall million barrels daily non-energy products non-energy tradeables oil equivalent oil exporters oil-importing developing countries OPEC pessimistic Policy Issues potential GDP growth price increases price of energy primary energy principal determinant production function Prospects Protectionism realized GDP relatively small fraction scenario shortfall in region terms of trade three-region model WDR IV guidelines World Bank World Oil Study zero trade deficits Zgo Deficits