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Issues in Domestic Petroleum Pricing in Oil-Producing Countries

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Author Info

  • Sanjeev Gupta
  • Benedict J. Clements
  • Kevin Fletcher
  • Gabriela Inchauste

Abstract

This paper discusses issues relating to the domestic pricing of petroleum in oil-producing countries. It finds that in most major oil-exporting countries, government policies keep domestic prices below free-market levels, resulting in implicit subsidies that equaled 3.0 percent of GDP, on average, in 1999. Moreover, the paper argues, these petroleum subsidies are inefficient and inequitable-entailing substantial opportunity costs in terms of forgone revenue or productive spending-and also procyclical, complicating macroeconomic management. Nonetheless, the elimination of petroleum subsidies is often politically difficult, although countervailing measures and publicity campaigns can help engender support for reform.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 02/140.

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Length: 31
Date of creation: 01 Aug 2002
Date of revision:
Handle: RePEc:imf:imfwpa:02/140

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Related research

Keywords: Taxation;

References

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  1. Freund, Caroline L. & Wallich, Christine I., 1995. "Raising household energy prices in Poland : who gains? who loses?," Policy Research Working Paper Series 1495, The World Bank.
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Citations

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Cited by:
  1. Simone Valente & Luca Bretschger, 2013. "International Resource Tax Policies Beyond Rent Extraction," Working Paper Series 15313, Department of Economics, Norwegian University of Science and Technology.
  2. Daniel Artana, Marcelo Catena y Fernando Navajas & Fernando Navajas & Marcelo Catena, 2007. "El Shock de los Precios del Petróleo en América Central: Implicancias Fiscales y Energéticas," Working Papers 94, FIEL.
  3. Daniel Leigh & Moataz El-Said, 2006. "Fuel Price Subsidies in Gabon: Fiscal Cost and Distributional Impact," IMF Working Papers 06/243, International Monetary Fund.
  4. David Coady & Taimur Baig & Joseph Ntamatungiro & Amine Mati, 2007. "Domestic Petroleum Product Prices and Subsidies: Recent Developments and Reform Strategies," IMF Working Papers 07/71, International Monetary Fund.
  5. Mehrara, Mohsen, 2007. "Energy consumption and economic growth: The case of oil exporting countries," Energy Policy, Elsevier, vol. 35(5), pages 2939-2945, May.
  6. Charles E. McLure, Jr., 2013. "Reforming Subsidies for Fossil Fuel Consumption: Killing Several Birds with One Stone," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1312, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
  7. Shahabuddin Mosherraf Hossain, 2003. "Taxation and Pricing of Petroleum Products in Developing Countries: A Framework for Analysis with Application to Nigeria," IMF Working Papers 03/42, International Monetary Fund.
  8. Lucas Bretschger & Simone Valente, 2010. "Endogenous Growth, Asymmetric Trade and Resource Taxation," CER-ETH Economics working paper series 10/132, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  9. Julien Daubanes & Lisa Leinert, 2012. "Optimum Tariffs and Exhaustible Resources: Theory and Evidence for Gasoline," CER-ETH Economics working paper series 12/163, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  10. Wolf, C, 2008. "Does Ownership Matter? The Performance and Efficiency of State Oil vs. Private Oil (1987-2006)," Cambridge Working Papers in Economics 0828, Faculty of Economics, University of Cambridge.

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