The Oil Crisis In The 1970s And Its Consequences For The World Economy
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The Oil Crisis In The 1970s And Its Consequences For The World Economy
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Author : David Wieblitz
language : en
Publisher: GRIN Verlag
Release Date : 2006-07-23
The Oil Crisis In The 1970s And Its Consequences For The World Economy written by David Wieblitz and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-07-23 with Social Science categories.
Essay from the year 2004 in the subject Business economics - Economic and Social History, grade: 2,0, Turku School of Economics (Department of economics), course: Economic History and Development, language: English, abstract: Nowadays oil is still the world’s most important single source of energy. The world’s industry is influenced by the cost of energy which, in turn, is influenced by the price of crude oil, taxation and other factors. If the cost of energy goes up, then prices of goods and services will increase, subsequently it will cause lower availability of products, higher transportation’s costs and in turn lower economic growth. The latter will influence negatively the efficiency and productivity of the whole world’s industry. This means that if oil prices go too high or too low there will be unlikely consequences for both oil producers and oil consumers. This paper analyzes the oil crisis of 1970ies. The first section concerns the history of the October War (6 – 23 October 1973) that led to the oil embargo, one of the most dramatic events for the world economy. The embargo lasted six months, beginning on 17 October 1973 and ending on 18 March 1974. The second section deals with the impact of the energy crisis on different countries. It caused terrible consequences for the economies of all industrialized countries such as recession, inflation, unemployment, lost economic growth and stagflation. But the essential question is whether the energy crisis was a real shortage or mainly a matter of politics.
Oil Shock
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Author : Elisabetta Bini
language : en
Publisher: Bloomsbury Publishing
Release Date : 2016-05-27
Oil Shock written by Elisabetta Bini and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-27 with Political Science categories.
The 1973 'Oil Shock' is considered a turning point in the history of the twentieth century. At the time it seemed to mark a definitive shift from the era of low priced oil to the era of expensive oil. For most Western industrialized countries, it became the symbolic marker of the end of an era. For many oil producers, it translated into an unprecedented control over their energy resources, and completed the process of decolonization, leading to a profound redefinition of international relations.This book provides an analysis of the crisis and its global political and economic impact. It features contributions from a range of perspectives and approaches, including political, economic, environmental, international and social history. The authors examine the origins of what was defined as an 'oil revolution' by the oil-producing countries, as well as the far-reaching effects of the 'shock' on the Cold War and decolonization, on international energy markets and the global economy. In doing so, they help place the event in its historical context as a key moment in the transformation of the international economy and of North-South relations.
Oil Crises Of The 1970s And The Transformation Of International Order
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Author : Shigeru Akita
language : en
Publisher: Bloomsbury Publishing
Release Date : 2023-12-14
Oil Crises Of The 1970s And The Transformation Of International Order written by Shigeru Akita and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-14 with History categories.
The 1970s are widely seen as a turning point for the world economy and a transformative decade for the international order. This volume explores the role played by the oil crises in this transformation, focusing particularly on their impact in previously little-studied regions such as Asia and Africa. Examining the intersection between the oil crises and the Third World project, their impact on Asian economic development and the contrasting responses of two African countries, this collection covers new ground on the global and regional effects of the crises, and ties them into the key transformations of the international economy and the Cold War order. Arguing that they were instrumental in reshaping the Asian economies, helping to instigate the boom known as the 'East Asian Miracle', it also demonstrates how the individual responses of countries reflected their own specific circumstances. With chapters from leading scholars such as David Painter and Dane Kennedy, this book shows how the origins, course and consequences of the oil crises of the 1970s are crucial to understanding the transformation of the international order in the late twentieth century.
Oil And The International Economy
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Author : Georg Koopmann
language : en
Publisher: Transaction Publishers
Release Date :
Oil And The International Economy written by Georg Koopmann and has been published by Transaction Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on with Business & Economics categories.
The oil price increases of the 1970s left deep marks on the world economy. They led to a massive redistribution of income in favor of oil-producing countries, and caused serious disruption of growth, imbalances in foreign trade, and problems of stability in oil-importing countries. Despite the present levelling off, the authors suggest that more price increases remain a distinct possibility. "Oil and the International Economy "examines the effects of rising oil prices on the international financial system and identifies ways that oil-importing countries can overcome the financial and adjustment problems caused by them. The authors project the long-term trend in real oil prices and present economic policy options to help avoid future financial problems for industrialized and developing nations alike. Contents: The World Oil Market after the Oil Price Shocks; Future Trends in the Demand for Oil; Future Trends in the Supply of Oil; Balance-of-Payments and Exchange-Rate Adjustment: Current Account Developments in Times of Rising Oil Prices and Effects on Exchange Rates; The Effects of Real Oil Price Increases on Energy and Raw Material Prices; Repercussions on the General Price Level; Implications for the German Monetary and Exchange Rate Policy; Are Real Oil Price Increases a Brake on Growth?; Options for Economic Policy; The Struggle for Markets in the Oil-Producing Countries; The Oil-Producing Countries as Competitors in the Manufacturing Sector; Consequences for Trade Between Oil-Importing Countries.
Indonesia S Economy Since Independence
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Author : Kian Wie Thee
language : en
Publisher: Institute of Southeast Asian Studies
Release Date : 2012
Indonesia S Economy Since Independence written by Kian Wie Thee and has been published by Institute of Southeast Asian Studies this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
This book contains a collection of papers on various aspects of Indonesia's economic and its industrial development. It discusses the early independence period in the 1950s; the Soeharto era (1966-1998); and the ensuing two economic crises, namely the Asian Financial Crisis of 1997/98 and the Global Financial Crisis of 2008.
The Netherlands And The Oil Crisis
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Author : Duco Hellema
language : en
Publisher: Amsterdam University Press
Release Date : 2004
The Netherlands And The Oil Crisis written by Duco Hellema and has been published by Amsterdam University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with History categories.
This incisive study examines the role of the Netherlands in the October War and the oil crisis of 1973. The authors contend that the actions of the Dutch government were hypocritical: the Dutch government faced a domestic crisis when an oil embargo was levied against them by Arab countries for selling arms to Israel; yet after oil began arriving again two months later, the Dutch rejected a proposal for a stricter interventionist energy policy within the European Union. A probing and thought-provoking study, The Netherlands and the Oil Crisis draws on previously unavailable archival sources to shed new light on a pivotal moment in contemporary Dutch history.
The Oil Crisis
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Author : Fiona Venn
language : en
Publisher: Routledge
Release Date : 2002
The Oil Crisis written by Fiona Venn and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
Appendix Three: Chronology of a Month of Crisis: October 1973 -- Guide to Further Reading -- Index
The Economics And Politics Of China S Energy Security Transition
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Author : Hongtu Zhao
language : en
Publisher: Academic Press
Release Date : 2018-09-05
The Economics And Politics Of China S Energy Security Transition written by Hongtu Zhao and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-05 with Business & Economics categories.
The Economics and Politics of China’s Energy Security Transition clarifies China’s energy and foreign policies through a comprehensive examination of energy sources, providing an insider’s unique perspective for assessing China’s energy policies. China’s historic decline in coal consumption since 2013-2014 and a plateauing of its carbon dioxide emissions have given China an unprecedented opportunity to decarbonize while growing its economy. In response to global questions about China’s institutional, administrative, and political challenges and risks, this book provides the answers that everyone is asking. Provides a rare assessment of China’s energy policies and reveals insights into the Chinese government Devotes attention to issues of global energy governance and energy sanctions Includes data and reference content suitable for researchers in economics, sustainability, energy policy, geopolitics and political science
The Age Of Global Economic Crises
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Author : Juan Manuel Matés-Barco
language : en
Publisher: Taylor & Francis
Release Date : 2023-06-02
The Age Of Global Economic Crises written by Juan Manuel Matés-Barco and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-02 with Business & Economics categories.
The frequency and repetition of economic crises over the last hundred years demands an analysis that allows us to discover the root causes of these situations and the problems they have generated in the world economy. This book investigates these cycles throughout the 20th and the early 21st century. Economic crises can be the result of political or military conflict, but they have also been the consequence of bad practices, unbridled speculation, excessive greed, or poor management by the rulers and leaders of nations. The contributors to this volume analyse the causes and consequences of economic crises from the Great Depression to the present day, incorporating post-World War II reconstruction, the oil crisis of the 1970s and the “lost” Latin American decade of the 1980s, among others. This longer-term view allows the book to provide insights into understanding economic cycles in the long run, not just at a specific moment in time, and the ways in which they have spread internationally. This historical analysis also helps to shed new light on the current Covid-impacted situation, as it provides another reading of the main crises of recent centuries and their causes and consequences, as well as the measures and policies adopted to overcome the difficulties. This book will be of significant interest to readers in economic history, business history, politics, and economics and history more broadly.
Oil Prices And The Global Economy
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Author : Mr.Rabah Arezki
language : en
Publisher: International Monetary Fund
Release Date : 2017-01-27
Oil Prices And The Global Economy written by Mr.Rabah Arezki and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-27 with Business & Economics categories.
This paper presents a simple macroeconomic model of the oil market. The model incorporates features of oil supply such as depletion, endogenous oil exploration and extraction, as well as features of oil demand such as the secular increase in demand from emerging-market economies, usage efficiency, and endogenous demand responses. The model provides, inter alia, a useful analytical framework to explore the effects of: a change in world GDP growth; a change in the efficiency of oil usage; and a change in the supply of oil. Notwithstanding that shale oil production today is more responsive to prices than conventional oil, our analysis suggests that an era of prolonged low oil prices is likely to be followed by a period where oil prices overshoot their long-term upward trend.