Energy, Efficiency Gains and Economic Development: When Will Global Energy Demand Saturate?

Not anytime soon. Using a novel dataset covering 127 countries and spanning two centuries, we find evidence for an energy Kuznets curve, with an initial decline of energy demand at low levels of per capita income followed by stages of acceleration and then saturation at high-income levels. Historica...

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Bibliographic Details
Main Author: Bogmans, Christian
Other Authors: Kiyasseh, Lama, Matsumoto, Akito, Pescatori, Andrea
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2020
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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300 |a 43 pages 
651 4 |a China, People's Republic of 
653 |a Energy: Demand and Supply 
653 |a Wealth 
653 |a Income 
653 |a Energy 
653 |a Personal income 
653 |a Other Primary Products 
653 |a National accounts 
653 |a Personal Income, Wealth, and Their Distributions 
653 |a Consumption; Economics 
653 |a Macroeconomic Analyses of Economic Development 
653 |a Energy and the Macroeconomy 
653 |a Environment and Growth 
653 |a Macroeconomics 
653 |a Energy prices 
653 |a Manufacturing industries 
653 |a Energy pricing 
653 |a Oil prices 
653 |a Saving 
653 |a Environment 
653 |a Manufacturing 
653 |a Natural Resources 
653 |a Economic sectors 
653 |a Industry Studies: Manufacturing: General 
653 |a Industries: Manufacturing 
653 |a Expenditure 
653 |a Economic Development: Agriculture 
653 |a Consumption 
653 |a Expenditures, Public 
653 |a Prices 
653 |a Macroeconomics: Consumption 
653 |a Business and Economics 
653 |a Public Finance 
653 |a Energy industries & utilities 
700 1 |a Kiyasseh, Lama 
700 1 |a Matsumoto, Akito 
700 1 |a Pescatori, Andrea 
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520 |a Not anytime soon. Using a novel dataset covering 127 countries and spanning two centuries, we find evidence for an energy Kuznets curve, with an initial decline of energy demand at low levels of per capita income followed by stages of acceleration and then saturation at high-income levels. Historical trends in energy efficiency have reduced energy demand, globally, by about 1.2 percent per year and have, thus, helped bring forward a plateau in energy demand for high income countries. At middle incomes energy and income move in lockstep. The decline in the manufacturing share of value added, globally, accounted for about 0.2 percentage points of the energy efficiency gains. At the country level, the decline (rise) of the manufacturing sector has reduced (increased) US (China) energy demand by 4.1 (10.7) percent between 1990 and 2017