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Resource Windfalls, Macroeconomic Stability and Growth; The Role of Political Institutions
Kazimov, Kazim; Hamilton, Kirk; Arezki, Rabah - International Monetary Fund (IMF) - 2011
We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-2007. Our main findings are threefold. First, we find that overall government...
Persistent link: https://www.econbiz.de/10009151227
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Fiscal Policy and Economic Development
Mourmouras, Alex; Rangazas, Peter - International Monetary Fund (IMF) - 2008
This paper offers possible explanations for three generally observed facts about fiscal policy and development: (F1) The relative size of government increases as an economy develops, (F2) The rise in government and taxation are associated with rising or constant economic growth rates, and (F3)...
Persistent link: https://www.econbiz.de/10005604955
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Recent Dynamics of Crude Oil Prices
Krichene, Noureddine - International Monetary Fund (IMF) - 2006
Crude oil prices have been on a run-up spree in recent years. Their dynamics were characterized by high volatility, high intensity jumps, and strong upward drift, indicating that oil markets were constantly out-of-equilibrium. An explanation of the oil price process in terms of the underlying...
Persistent link: https://www.econbiz.de/10005826574
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Iran; The Chronicles of the Subsidy Reform
Guillaume, Dominique M.; Zytek, Roman; Farzin, Mohammad Reza - International Monetary Fund (IMF) - 2011
On December 18, 2010, Iran increased domestic energy and agricultural prices by up to 20 times, making it the first … major oil-exporting country to reduce substantially implicit energy subsidies. This paper reviews the economic and technical …
Persistent link: https://www.econbiz.de/10009203528
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International Fuel Tax Assessment; An Application to Chile
Parry, Ian W.H.; Strand, Jon - International Monetary Fund (IMF) - 2011
Gasoline and diesel fuel are heavily taxed in many developed and some emerging and developing countries. Outside of the United States and Europe, however, there has been little attempt to quantify the external costs of vehicle use, so policymakers lack guidance on whether prevailing tax rates...
Persistent link: https://www.econbiz.de/10009203535
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Energy Subsidies in Latin America and the Caribbean: Stocktaking and Policy Challenges
Bella, Gabriel Di; Norton, Lawrence; Ntamatungiro, Joseph; … - International Monetary Fund (IMF) - 2015
The oil price decline creates an opportunity to dismantle energy subsidies, which escalated with high oil prices. This … paper assesses energy subsidies in Latin America and the Caribbean—about 1.8 percent of GDP in 2011–13 (approximately … poorer institutions subsidize more. Energy-rich countries subsidize fuel more, but low-income countries are more likely to …
Persistent link: https://www.econbiz.de/10011242202
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Energy Subsidies and Energy Consumption; A Cross-Country Analysis
Charap, Joshua; Silva, Arthur Ribeiro da; Rodriguez, Pedro C - International Monetary Fund (IMF) - 2013
The economic and environmental implications of energy subsidies have received renewed attention from policymakers and … economists in recent years. Nevertheless there remains significant uncertainty regarding the magnitude of the impact of energy … subsidies on energy consumption. In this paper we analyze a panel of cross-country data to explore the responsiveness of energy …
Persistent link: https://www.econbiz.de/10011242222
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Who's Going Green and Why? Trends and Determinants of Green Investment
Eyraud, Luc; Zhang, Changchang; Wane, Abdoul Aziz; … - International Monetary Fund (IMF) - 2011
This paper fills a gap in the macroeconomic literature on renewable sources of energy. It offers a definition of green … countries. We use a new multi-country historical dataset and find that green investment has become a key driver of the energy … "green" energy, have a positive and significant impact on green investment. Other interventions, such as biofuel support, do …
Persistent link: https://www.econbiz.de/10009401202
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Commodity Prices and Inflation in the Middle East, North Africa, and Central Asia
International Monetary Fund (IMF); International … - 2010
Inflation followed a strikingly uniform pattern in all countries of the Middle East, North Africa, and Central Asia during the period 1996-2009, falling until about 2000 and then rising. International fuel prices do not help explain this pattern. This conclusion is robust even when different...
Persistent link: https://www.econbiz.de/10008542985
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Quasi-Fiscal Deficits and Energy Conditionality in Selected CIS Countries
Saavalainen, Tapio; Berge, Joy Mylène ten - International Monetary Fund (IMF) - 2006
energy sector's financial imbalances. In conclusion, different policy options are discussed in light of the lessons learned. …
Persistent link: https://www.econbiz.de/10005768963