The income elasticities for energy demand of each country estimated from their time series are presented in Table 4 for the periods 1973-85,1973-8 and 1978-85. A few values are not well estimated later, but most are adequate. The estimated elasticities vary widely from the average cross-country elasticity of 1.13, in Asia, but not in any systematic fashion. Thailand is significantly lower over the whole period. Singapore, Malaysia, and Indonesia are significantly higher. There is no general tendency of elasticities to be higher or lower over the whole period, although in alsmost all countries they vary significantly between the 1973-78 and 1978-85 periods. Malaysia and Indonesia have time series elasticities significantly above the norm for 1973-85. This is presumably because the high income from oil production was spent at the margin on energy intensive activities. Singapore also has a higher value than the norm, presumably industry increased with throughput and a shift to upgrading processes. In summary, the simple income elasticity model is better from a cross-country than from a time series point of view. National time series do not fit an income elasticity model well and their deviations from the model show no systematic trend. The extent to which country elasticities differ from cross-country elasticities does not correlate with income level; so there is no evidence of a tendency for the countries as a group to have been on a lower energy path recently than the one implied by the historical development which has produced the present cross-country differentiation.
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