The oil crisis of the seventies has increased the concern about the continuity of oil imports flow to major oil-importing developed countries. Numerous policy measures including Electricity Demand Side Management (DSM) programs have been adopted in such countries. These measures aim at reducing...

We construct an aggregate data panel for the GCC's six countries and verify the cointegration hypothesis among the variables of the money demand function using Pedroni's heterogeneous panel cointegration tests (2001). Then, we estimate the idiosyncratic, panel and group-mean cointegrating...