Abstract
AbstractThis study dealt with the estimation of price elasticities for the non‐oil manufacturing industrial energy demand for the case of Kuwait using the two‐stage inter‐fuel substitution approach. The estimated model has performed quite well and thus was simulated assuming a 100 per cent price shock in order to gain the short‐ and long‐run own‐ and cross‐price elasticities. The results suggest that a great deal of adjustment to higher prices comes from total energy demand and not from inter‐fuel substitution.
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