Energy in the World Economy, 1950-1992
Bibliographic Data
| ID | 7301835 |
|---|---|
| Authors | Joshua S Goldstein (American University), Xiaoming Huang (0000-0002-0614-8626, Southern California University for Professional Studies), Burcu Akan (American University) |
| Year | 1997 |
| Volume | 41 |
| Issue | 2 |
| Pages | 241-266 |
| Publication date | 1997-06-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | International Studies Quarterly (JOURNAL) |
| Journal identifiers | ISSN: 0020-8833 • E-ISSN: 1468-2478 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/1468-2478.00041 |
| OpenAlex | W2100884759 |
| Language | EN |
| Citations received | 3 |
| References cited | 13 |
Trends in energy production, trade, and consumption during 1950–1992 are analyzed, using nine world regions to highlight both North–South energy trade and the regions' differing patterns of industrialization. Following price shocks in 1973 and 1979, and the price drop of the mid–1980s, the industrialized West adjusted its patterns of energy consumption and imports, and the Middle East changed its level of exports. These relationships suggest a cobweb–type model with an equilibrium price for Mideast oil around $30/barrel. This equilibrium could result in zero growth in energy consumption in the industrialized West but continued growth of GDP as energy efficiency increases. Energy prices that are“too high”reduce GDP growth in the short term—to the detriment of both energy importers and exporters—while prices that are“too low”lead in the long term to high dependency on Middle East oil exports, which, in turn, depends on an elusive and costly political stability in that region. The analysis highlights the central role of North–South energy trade in the world economy, and the close but changing relationship of energy with overall GDP growth
Barrel (horology · Consumption (sociology · Economics · Economy · Energy consumption · Geography · Industrialisation · International economics · Market economy · Middle East · Energy, Environment, Economic Growth · Global Energy and Sustainability Research · Market Dynamics and Volatility
The Penn World Table (Mark 5)
Managing an oligopoly of would-be sovereigns
The Business of the Japanese State
Real or illusory growth in an oil-based economy
Terms of trade shocks and structural adjustment in a small open economy
World Energy Dynamics
Reason and Rationality during Energy Crises
The Energy Crisis and the American Political Economy
Oil and the international economy
The Political Economy of Substitution Policy
Global Pattern of Energy Consumption before and after the 1974 Oil Crisis
The irony of state strength
Domestic adjustment to international shocks in Japan and the United States
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,15 |
| Citation span | 2006 - 2015 (10) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |