It is common with governments of many oil producing developing countries to fix the prices of energy products below their opportunity cost for welfare and redistribution purposes. This has often resulted in huge energy consumption in developing countries and the question that emerge is whether...

Inefficient pricing of energy products has become a common feature of governments in many oil exporting developing countries. As developing countries, this can be justified only when the increased growth results from higher energy consumption. To this end, the study examined the direction of...