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AEC 2008 - Key Factors of Demand for Energy within the ECOWAS Zone

30-Nov-2008

In this paper, using an error correction model, we try to estimate the relationship between energy demand and its key factors in the ECOWAS zone based on sample data of six member States covering the 1975 – 2005 period. We calculate long and short-term elasticities of energy demand, and demonstrate that at regional level only the long-term impacts of the effects of agricultural and industrial structures are significant, while income impacts negatively on energy demand both in the long and short terms. Thus, agricultural or industrial variations generate similar variations in energy demand, albeit to a less extent. Per capita income variation has the opposite effect on energy demand that is twice insignificant in the short than in the long term. Avenues have been suggested to allow for an efficient and environmentallyfriendly regional policy

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