The role of oil and gas in the development of the global economy

Paul Stevens

No wp-2016-175, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper is concerned with the role of oil and gas in the development of the global economy. Its focus is on the context in which oil and gas producers in both established and developing countries must frame their policies in order to optimize the benefits of producing such resources. It begins by outlining a brief history of the issue over the last 25 years. It considers oil and gas as factor inputs, their role in global trade, the role of oil prices in the macro-economy and the impact of the geopolitics of oil and gas over the same period.

Keywords: Oil; Natural gas; Energy policy; Energy markets (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (2)

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