Demand for oil products in the GCC countries
Date
1996
Authors
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Publisher
Economic Research Forum, Cairo, EG
Abstract
The purpose of this study is to estimate the short and long-run income and price elasticities of oil product consumption in the GCC countries. Annual data spanning the period 1970-91 were fitted to a partial adjustment model to obtain the estimates. The main finding of the study is that both price and income are relatively inelastic in the short run, with a great variation in these elasticities among fuels and across countries.
Description
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Working Paper
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Keywords
ECONOMIC RESEARCH, PETROLEUM PRODUCTS, INCOME GENERATION, ECONOMIC ANALYSIS, ECONOMIC POLICY, REGIONAL ANALYSIS, POLICY MAKING