Abstract
There is no question that energy is an important ingredient in the development of any country. Unfortunately, the ability of less developed countries to respond to the particular nuances of the energy market is not well understood. This paper endeavors to look at one aspect of this potential responsiveness in one country (Korea). After establishing an empirical relationship between the consumption of electrical energy in various industries and the price of electrical energy, the price of petroleum, and the price of coal, estimates of the magnitudes of the relationships are obtained. Finally, the stability of the estimated relationship is examined with the resultant suggestion that industries' demand for electrical energy was fairly stable over the decade of the seventies.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
