Develops and tests a simultaneous equation model to assess the effect of growth in exports to the EU on the economic development of five South‐East Asian countries. Emphasizes the role played by economic interdependence and estimates the degree of feedback effects between each Asian economy...

The price elasticity of demand for oil has changed significantly since the sharp rise in oil prices in late 1973. Although oil is still a necessary commodity with a price elasticity of less than one, the policies recently introduced by many importing countries to store oil and reduce its...