Pakistan: Energy Consumption and Economic Growth | Zendy

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Pakistan: Energy Consumption and Economic Growth

Author(s) -

T. Riaz

Publication year - 1984

Publication title -

the pakistan development review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.154

H-Index - 26

ISSN - 0030-9729

DOI - 10.30541/v23i2-3pp.431-456

Subject(s) - stagflation , economics , disequilibrium , consumption (sociology) , shock (circulatory) , inflation (cosmology) , energy consumption , macroeconomics , supply shock , monetary economics , development economics , international economics , unemployment , monetary policy , medicine , ecology , social science , physics , sociology , biology , theoretical physics , ophthalmology

After the Arab oil embargo of 1973, oil prices rose rapidlyand the energy importing economies experienced an exogenously determinedreal supply shock, which, in most cases, led to a fall in their rates ofeconomic growth and a corresponding rise in the rates of inflation. Theenergy situation emerged as a serious issue and the relationship betweenenergy consumption and economic growth came into sharp focus. The lastdecade has been a period of disequilibrium, structural adjustment andadoption of strategies to cope with the previously unknown phenomenon ofstagflation.

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