The impact of higher oil prices on Southern African countries
In determining the magnitude of oil shocks to the economies of Southern Africa, it is essential that we examine the various components of vulnerability, as well as the crude oil price movements and the relationship between energy and development. Because energy consumers and producers are constraine...
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| Format: | Article |
| Language: | English |
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University of Cape Town
2017-10-01
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| Series: | Journal of Energy in Southern Africa |
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| Online Access: | https://journals.assaf.org.za/jesa/article/view/3373 |
| Summary: | In determining the magnitude of oil shocks to the economies of Southern Africa, it is essential that we examine the various components of vulnerability, as well as the crude oil price movements and the relationship between energy and development. Because energy consumers and producers are constrained by their energy consuming appliances which are fixed n the short-run, thus making it difficult to shift to less oil intensive means of production in response to higher oil prices, oil price shocks increase the total import bill for a country largely because of the huge increase in the cost of oil and petroleum products. Low-income countries and poorer households tend to suffer the largest impact from oil price rise |
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| ISSN: | 1021-447X 2413-3051 |