Demand for Oil by Developing Countries

Chongwoo Choe and Imad Moosa
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Imad Moosa: Department of Economics and Finance, La Trobe University

No 1996.09, Working Papers from School of Economics, La Trobe University

Abstract: A linear model of the demand for oil is derived from a cost minimisation problem in which demand depends on the price of oil, the price of coal and output. The model is estimated and tested against a log-linear model. The empirical results reject the log-linear specification and show that the demand for oil is highly inelastic.

Keywords: Economic Development; Demand; Energy Resources EDIRC Provider-Institution: RePEc:edi:smlatau (search for similar items in EconPapers)
Pages: 18 pages
Date: 1996
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