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Regional Growth and Energy Determinants: Implications for the Future

Abstract:
Energy is used in the production, transportation, and delivery of all goods and services, and is thus crucial to the welfare of a modern industrial society. Recent problems with energy, such as higher prices and the uncertainty of supplies, have consequently had adverse effects on industrial input prices, transport budgets, and the cost of living. These effects, in turn, have prompted a variety of adjustments, such as energy conservation-through reductions in energy intensity and through acquisition of energy efficient capital stock-and substitution of cheaper and more abundant fuels. Since some aspects of fuel switching lead to significant shortfalls in environmental quality, environmental considerations may constrain future energy developments.

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Energy Specializations: Petroleum – Markets and Prices for Crude Oil and Products; Natural Gas – Policy and Regulation; Energy and the Economy – Energy as a Productive Input; Energy and the Economy –Economic Growth and Energy Demand; Energy and the Economy – Resource Endowments and Economic Performance; Energy and the Economy – Energy Shocks and Business Cycles

JEL Codes:
L13 - Oligopoly and Other Imperfect Markets
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
O13 - Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
Q34 - Natural Resources and Domestic and International Conflicts
F44 - International Business Cycles

Keywords: Regional growth, Energy policy, Energy determinants, forecasting

DOI: 10.5547/ISSN0195-6574-EJ-Vol2-No2-1


Published in Volume 2, Number 2 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.