Explaining the energy consumption portfolio in a cross-section of countries: are the BRICs different?
AbstractThis paper uses disaggregated data from a broad cross-section of countries to empirically assess differences in energy consumption profiles across countries. We find empirical support for the energy ladder hypothesis, which contends that as an economy develops it transits away from a heavier reliance on traditional fuel sources towards an increase in the use of modern commercial energy sources. We also find empirical support for the hypothesis that structural transformation--the idea that as an economy matures, it transforms away from agriculture-based activity into industrial activity and, finally, fully matures into a service-oriented economy--is an important driver for the distribution of end-use energy consumption. However, even when these two hypotheses are taken into account, we continue to find evidence suggesting that the patterns of energy consumption in the BRIC economies are importantly different from those of other economies.
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Bibliographic InfoPaper provided by Board of Governors of the Federal Reserve System (U.S.) in its series International Finance Discussion Papers with number 1015.
Date of creation: 2011
Date of revision:
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- Radoslaw Stefanski, .
"Structural Transformation and the Oil Price,"
Review of Economic Dynamics,
Elsevier for the Society for Economic Dynamics.
- Radoslaw Stefanski, 2010. "Structural Transformation and the Oil Price," OxCarre Working Papers 048, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
- Radoslaw Stefanski, 2013. "Code and data files for "Structural Transformation and the Oil Price"," Computer Codes 12-45, Review of Economic Dynamics.
- University of Minnesota & Radoslaw Stefanski, 2009. "Structural Transformation and the Oil Price," 2009 Meeting Papers 1050, Society for Economic Dynamics.
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