Abstract
The purpose of this paper is to provide empirical estimates of the price and income elasticities of energy consumption in Egypt. It fills an important gap, since policy discussion of energy pricing issues has so far been based more on assumptions than on hard evidence. The paper shows that the real relative price of energy has been falling steadily since 1972, while per capita energy consumption rose some 50% over the decade 1972-81. Evidence produced in this exercise indicates quite clearly that price and income elasticities of energy consumption are significantly much lower than was generally believed.
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