Differential impact of rising energy prices upon developed and developing countries: 1970-1977
This study examines the impact of this era of restricted energy upon continued growth and development of poor, middle-income, and rich countries in the world society. The research objective is to ascertain if increased prices more adversely affected low-income countries (many of whom morally supported the behavior of th OPEC nations) than middle-income and rich countries. A 116-country sample is used and subdivided into five country groupings: poor, middle-income, industrialized, capital surplus oil-exporting, and centrally-planned countries. Data on the energy variables indicated that low-income countries continued to have access to energy during the post-embargo period in spite of higher prices. The average increase in energy consumption was greater for the poorer Lesser Developed Countries (LDC) in the post-1973 than in the pre-1973 years. In contrast, industrialized countries significantly reduced their mean rate of energy consumption. Thus, a slight redistribution of energy resources occurred from the industrialized countries to the rest of the world. Data analysis also revealed that while economic growth declined for all country groupings in the post-embargo years, industrialized countries experienced a greater percentage decrease in growth rates than did developing countries.
- OSTI ID:
- 5906200
- Resource Relation:
- Other Information: Thesis (Ph. D.)
- Country of Publication:
- United States
- Language:
- English
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