دانشگاه تهران - دانشکده اقتصاد فصلنامه تحقیقات اقتصادی 0039-8969 45 2 2010 07 23 Estimation of Oil Demand Function for the Persian Gulf Region بررسی میزان وابستگی کشورهای صنعتی به نفت صادراتی از تنگه‎ی هرمز به وسیله تخمین تابع تقاضا برای نفت منطقه‎ی خلیج فارس 21000 FA فرهاد رهبر دانشکده‎ی اقتصاد دانشگاه تهران مهدی محمودرباطی دانشکده‎ی اقتصاد دانشگاه تهران Journal Article 1970 01 01 About 60 percent of the world's known reserves of oil reside in the Middle East region. As such, any developments of this region are of utmost importance for the world economy. The Strait of Hormuz is the export conduit for 90 percent of the oil of the countries bordering the Persian Gulf, supplying 40 percent of world oil consumption, and is controlled by our country. Since assessment of the sensitivity of world economy to oil, specifically, in this region, is very critical for our country, we have tried to determine the price and income elasticity through a study of world demand for the oil exported from the Strait of Hormuz. Price rise can cause higher income for exporting countries in the short-term period. However, in the long run, it causes a substantial decrease in the demand and subsequently in the income of exporting countries. The world demand for the oil exported from the Strait of Hormuz is inelastic. Moreover, the trend for substitution of renewable energies for oil is slow, but ever-increasing. Finally, the significant and influential conclusion is the substantial impact of the gross domestic product of developed countries on the demand for oil. JEL classification: Q41 , C5 , F59 https://jte.ut.ac.ir/article_21000_0e95af2e7cd9ebe7d886be984fd67be7.pdf