Petroleum Product Subsidies: Costly, Inequitable, and On the Rise (EPub) (PDF Download)

Business & Finance, Economics, Money & Monetary Policy, Macroeconomics
Cover of the book Petroleum Product Subsidies: Costly, Inequitable, and On the Rise (EPub) (PDF Download) by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq, INTERNATIONAL MONETARY FUND
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq ISBN: 9781452785639
Publisher: INTERNATIONAL MONETARY FUND Publication: February 25, 2010
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
ISBN: 9781452785639
Publisher: INTERNATIONAL MONETARY FUND
Publication: February 25, 2010
Imprint: INTERNATIONAL MONETARY FUND
Language: English

Petroleum product subsidies have again started to increase with the rebound in international prices. This note reviews recent developments in subsidy levels and argues that reforming the policy framework for setting petroleum product prices is necessary to reduce the fiscal burden of these subsidies and to address climate change. Between 2003 and mid-2008, global consumer subsidies for petroleum products are estimated to have increased more than eightfold, from $57 billion to $490 billion. Although subsidies decreased to $136 billion by mid-2009, they are projected to increase to $237 billion by end-2010 (or nearly 0.3 percent of global GDP). Tax-inclusive subsidies, reflecting sub-optimal taxation of petroleum products, are projected to increase to $733 billion, or 1.0 percent of global GDP. G-20 countries account for over 70 percent of tax-inclusive subsidies. Halving tax-inclusive subsidies could reduce projected fiscal deficits in subsidizing countries by one-sixth and greenhouse emissions by around 15 percent. Subsidy reform strategies should contain measures to mitigate the impact of higher prices on the poorest groups.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Petroleum product subsidies have again started to increase with the rebound in international prices. This note reviews recent developments in subsidy levels and argues that reforming the policy framework for setting petroleum product prices is necessary to reduce the fiscal burden of these subsidies and to address climate change. Between 2003 and mid-2008, global consumer subsidies for petroleum products are estimated to have increased more than eightfold, from $57 billion to $490 billion. Although subsidies decreased to $136 billion by mid-2009, they are projected to increase to $237 billion by end-2010 (or nearly 0.3 percent of global GDP). Tax-inclusive subsidies, reflecting sub-optimal taxation of petroleum products, are projected to increase to $733 billion, or 1.0 percent of global GDP. G-20 countries account for over 70 percent of tax-inclusive subsidies. Halving tax-inclusive subsidies could reduce projected fiscal deficits in subsidizing countries by one-sixth and greenhouse emissions by around 15 percent. Subsidy reform strategies should contain measures to mitigate the impact of higher prices on the poorest groups.

More books from INTERNATIONAL MONETARY FUND

Cover of the book Policies for African Development: From the 1980s to the 1990s by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Dealing with High Debt in an Era of Low Growth by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Global Financial Stability Report, September 2005 by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Manual on Fiscal Transparency by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Adjustment Programs in Africa: The Recent Experience by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book The Design and Implementation of Deposit Insurance Systems by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Operational Risk Management and Business Continuity Planning for Modern State Treasuries by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Finance & Development, September 2001 by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Regional Economic Outlook: Middle East and Central Asia, May 2009 by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Finance & Development, September 1974 by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Financial Sector Development in Sub-Saharan African Countries by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book The Economic Impact of Conflicts and the Refugee Crisis in the Middle East and North Africa by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book IMF-Supported Programs: Recent Staff Research by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Exchange Rate Movements and Their Impact on Trade and Investment in the APEC Region by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
Cover of the book Finance & Development, June 1965 by John Piotrowski, David Coady, Justin Tyson, Rolando Mr. Ossowski, Robert Mr. Gillingham, Shamsuddin Mr. Tareq
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy