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Book Review - Economics of the Mineral Industries

M. A. Adelman

Year: 1988
Volume: Volume 9
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No1-11
No Abstract



Book Review - Energy, Planning and Urban Form

Peter R. Odell

Year: 1988
Volume: Volume 9
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No1-12
No Abstract



Book Review - Rural Electrification for Development

Mark Allen Bernstein

Year: 1988
Volume: Volume 9
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No1-13
No Abstract



Book Review - Consumer Durable Choice and the Demand for Electricity

Timothy J. Considine

Year: 1988
Volume: Volume 9
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No1-15
No Abstract













Testing Alternative Hypotheses of Oil Producer Behavior

Carol Dahl and Mine Yucel

Year: 1991
Volume: Volume 12
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol12-No4-8
View Abstract

Abstract:
Conventional wisdom holds that OPEC is a weakly functioning cartel with non-OPEC producers forming a "competitive fringe." However, several studies have challenged the cartel hypothesis for OPEC with a few even challenging the competitive hypothesis for non-OPEC producers. In this paper, we test competing hypotheses (which include dynamic optimization, target-revenue, competition, cartel, and swing production) for production decisions for both OPEC and non-OPEC producers. Recently developed cost data allow these tests to be done on the most general model to date. In our tests, we find no evidence for dynamic optimization. Formal target-revenue models are rejected, but there is some evidence that revenue targeting may influence production for some OPEC countries and a few non-OPEC countries. We find no evidence that any of the OPEC countries behave in a competitive manner. More surprisingly, we find no evidence that the fringe is competitive. Using co-integration tests, we are unable to find formal evidence of coordination in the form of strict cartel behavior or swing production among OPEC countries. Taken as a whole, the evidence suggests that loose coordination or duopoly is most consistent with OPEC behavior.



Oil Demand in the Developing World: Lessons from the 1980s Applied to the 1990s

Carol Dahl and Meftun Erdogan

Year: 1994
Volume: Volume 15
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol15-NoSI-5
View Abstract

Abstract:
Oil consumption in the developing world increased 37% over the decade of the 1980s. The 1990s promise to be more dynamic yet. In this paper we trace the evolution of these changes in the 1980s for Asia, Africa, Latin America, and the Middle East. Econometric work is used to determine how well growth in income, prices, and population explained growth in the 1980s, comparing forecasted with actual values for 1990. We find that the forecasts are quite good at the global level while consideration of additional facts such as urbanization, vehicle stocks, balance of payments, interfuel substitution, and industrialization helps explain some of the regional variation. The econometric estimates along with a discussion of other variables are used to forecast consumption to the year 2000. The forecasts suggest that growth in oil product consumption during the 1990s is likely to be at least double that of the 1980s with Asia leading the way.





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