We construct a dynamic model of a small open economy to analyze the effects of large energy subsidies. The model … includes domestic energy production and consumption, trade in energy at world market prices, as well as private and public … sector production. The model is calibrated to Egypt and used to study reforms such as reductions in energy subsidies with …

countries (SEMCs) between energy supply and demand and socio-economic development, as well as the potential role of energy …, the changing role of energy (both demand and supply) in southern Mediterranean economies, focusing on its positive and … channels of relations between energy supply and demand policies and economic and social development. The burdens of energy …

This paper shows that high energy subsidies and low public social spending can emerge as an equilibrium outcome of a ….6 percentage point of GDP in countries where energy subsidies were 1 percentage point of GDP higher. Moreover, we find that the …