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The Great Transition: Energy and Economic Change

Abstract:
This paper examines the interactions between energy prices and economic growth since the first world oil crisis in 1973. Its title comes from a report by the Swedish National Energy Administration. The report, which details the transition of the world economy from low-priced to high-priced energy, is an excellent overview of the interrelationships between industrialized economies and international energy markets.

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Energy Specializations: Energy Security and Geopolitics – Geopolitics of Energy

JEL Codes: Q41: Energy: Demand and Supply; Prices, Q40: Energy: General, Q37: Nonrenewable Resources and Conservation: Issues in International Trade, Q35: Hydrocarbon Resources

Keywords: Energy prices, Economic growth, International energy markets

DOI: 10.5547/ISSN0195-6574-EJ-Vol7-No3-1


Published in Volume 7, Number 3 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.