Demand for Oil Products in the GCC Countries

Abdul-Razak Al-Faris ()
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Abdul-Razak Al-Faris: Economic Policy & Affairs Unit, Dubai Council for Economic Affair, Government of Dubai

No 9608, Working Papers from Economic Research Forum

Abstract: The purpose of this study is to estimate the short and long-run income and price elasticities of oil product consumption in the GCC countries. Annual data spanning the period 1970-91 were fitted to a partial adjustment model to obtain the estimates. The main finding of the study is that both price and income are relatively inelastic in the short run, with a great variation in these elasticities among fuels and across countries.

Date: 1996-21-03, Revised 1996
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Published by The Economic Research Forum (ERF)

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Persistent link: https://EconPapers.repec.org/RePEc:erg:wpaper:9608

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