Aims and Objectives of the study
Research Questions
This study aims at probing to what extent does population, appliance, price, income, and imports act as a determinant of electricity demand in Libya. It aims to find out how well can the demand function be evaluated to know the accuracy of the demand that has been realized. It also seeks to answer how the demand function for electricity in Libya can be compared and tracked with the rates of electricity consumption in Libya. Further, the study researches on the performance in terms of the tracking ability of electricity consumption in terms of the empirical and econometric model. It also identifies the determinants that affect on electricity projects considering the current need to comprehend how electricity impacts on the Libyan economy. The research questions therefore as framed include;
? How and in what magnitude do price, income, population, appliance imports, and temperature affect the demand for electricity?
? How can we improve the accuracy of the said demand function in tracking realized demand?
? How do we compare the tracking ability of the said demand function for electricity in Libya vis-?-vis other models that purport to track the consumption of electricity in Libya?
? Does an empirical or econometric model of demand for electricity perform a better job in tracking electricity consumption in Libya?
? What are the internal/external determinants that affecting on electricity projects in Libya?
Aims and Objectives
The research aims to examine and identify key determinants affecting the demand for electricity in Libya. The research will take into account the current need to understand how major electricity projects can impact the economy. The main objectives as framed will be as follows:
? To review current practice in the Libyan energy sector and compare this to the UK.
? To identify factors contributing to an econometric framework of demand function for electricity in Libya.
? To compare the tracking ability of the demand for electricity model with the other models that can be developed for Libya.
? To examine the effect of internal/external determinants of electricity projects in Libya.
? To make an assessment of the implications of the findings that come out of this study on policy and direction for future studies of similar nature.
? To propose an econometric framework for electricity organisations in Libya.
In the analysis of the first objective, there will be a proper review using the descriptive analysis method of the present application in the Libyan energy division as compared with the situation in the United Kingdom (UK). The second objective will be achieved through a proper dissection through examination and identification of the determinants that affect the demand of electricity in Libya. This will be achieved through the utilization of information collected through a time series data and has been analyzed through different statistical methods which include ordinary least-squares (OLS) regression, and test for Co-integration. The granger causality will be used to evaluate the third objective through the comparison of the tracking capability of the electricity demand with other models developed specifically for Libya. The fourth objective of examining the internal and external determinants of electricity demand in Libya will be achieved through the use of a thorough investigation and further analyzed through a survey conducted through a questionnaire and the conducting of a case study. The final objectives will be achieved, by summarising and an assessment the main findings discussed in the empirical chapters.
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