Domestic Petroleum Price Smoothing in Developing and Transition Countries [electronic resource] Bingham, Benedict F. W..

Bingham, Benedict F. W.
Washington, D.C. : International Monetary Fund, 2001.
IMF eLibrary
IMF Working Papers; Working Paper No. 01/75.
IMF Working Papers; Working Paper No. 01/75
Government document
1 online resource (28 p.)
Local subjects:
Commodity prices. (search)
Competitive market. (search)
Crude oil. (search)
Crude oil price. (search)
Crude oil prices. (search)
Crude price. (search)
Crude prices. (search)
Demand for petroleum products. (search)
Domestic industry. (search)
Domestic market. (search)
Domestic price. (search)
Domestic prices. (search)
Economic perspectives. (search)
Exporting countries. (search)
External shocks. (search)
Fiscal and Monetary Policy in Development. (search)
Fiscal shock. (search)
Fiscal stability. (search)
Gasoline price. (search)
Gasoline prices. (search)
Government Policy. (search)
Import price. (search)
Import prices. (search)
Importing countries. (search)
Income elasticities. (search)
Incomes Policy. (search)
International oil prices. (search)
Million barrels. (search)
Neighboring countries. (search)
Non-oil commodities. (search)
Oil companies. (search)
Oil company. (search)
Oil demand. (search)
Oil exporting countries. (search)
Oil futures. (search)
Oil import. (search)
Oil importer. (search)
Oil importers. (search)
Oil price changes. (search)
Oil prices. (search)
Oil products. (search)
Oil-importing countries. (search)
Open economies. (search)
Petroleum market. (search)
Petroleum prices. (search)
Petroleum pricing. (search)
Petroleum products. (search)
Petroleum products prices. (search)
Political economy. (search)
Price Policy. (search)
Price stability. (search)
Price stabilization. (search)
Spot crude prices. (search)
Spot price. (search)
Terms of trade. (search)
Trade shock. (search)
Transition countries. (search)
Bolivia. (search)
Chile. (search)
Costa Rica. (search)
Mauritania. (search)
Philippines. (search)
Thailand. (search)
This paper examines the case for government-led smoothing of domestic petroleum prices in the face of volatile international prices. Governments in most developing and transition countries engage in petroleum price smoothing, as the survey of country practice carried out for this paper shows. This paper reviews the potential welfare implications of petroleum price volatility, and assesses different price smoothing rules on the basis of historical oil prices. These simulations reveal the presence of a sharp trade-off between price smoothing and fiscal stability, suggesting that developing and transition country governments should engage in limited price smoothing and, if possible, rely on hedging instruments to do so.
Description based on print version record.
Bingham, Benedict F. W.
Daniel, James.
Federico, Giulio.
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