An Assessment of Future Energy Demand in Developing Countries |
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| Authors: | WEN S. CHERN |
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| Affiliation: | Department of Textiles and Consumer Economics, University of Maryland, College Park, Maryland 20742, USA |
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| Abstract: | The statistical data show that the rapid growth in oil and energy demand in less-developed countries (LDCs) can be attributed to the rapid growth in gross domestic products (GDP) and the relatively high energy intensity in LDCs. The statistical analysis confirms that the GDP elasticities of aggregate energy and oil demand are high and the energy price elasticities are relatively low for the 15 LDCs studied. The projection shows that the future oil and aggregate energy demands are likely to increase at fairly rapid rates in LDCs. Furthermore, there are reasons to believe that these high growth rates may be sustained. |
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