Energy prices, substitution, and optimal borrowing in the short run: an analysis of adjustment in oil-importing developing countries. [Monograph]
Book
·
OSTI ID:5233840
A short-term model of traded and nontraded goods is used to analyze the economic responses of developing oil-importing countries to OPEC price increases and to evaluate the ensuing borrowing strategies. A second model shows the gradual mobility of labor with other factor substitutions. Policies to increase the speed of adjustment to long-run substitution would emphasize both the discovery and mastery of new processes and appropriate investments. 19 references, 3 figures, 15 tables. (DCK)
- OSTI ID:
- 5233840
- Resource Relation:
- Other Information: World Bank Staff Working Paper No. 466
- Country of Publication:
- United States
- Language:
- English
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