Browse

You are looking at 1 - 10 of 61 items for :

  • Energy: Demand and Supply; Prices x
Clear All
Parvez Hasan

This paper reviews the increasing private capital flows to less developed countries. The share of developing countries in the foreign direct investment is small, perhaps less than 30 percent of the total. The effects of this decline in the volume of foreign investment and the continued problem of capital flight have been aggravated by the serious fall in commercial bank lending to developing countries as a group and by a decline in official development assistance.

International Monetary Fund. External Relations Dept.

Asia is a vital and vibrant part of the world economy. In terms of purchasing power parity, it includes three (China, Japan, and India) of the world’s four largest economies, accounting for one-fourth of global output. And its importance is increasing, because Asia also boasts two of the world’s fastest-growing countries: China, which has averaged 10 percent annual growth in the past decade, and India, where annual growth has been running above 7 percent since 2003. This article examines the region’s economic outlook for 2006 and the policy challenges ahead. Specifically, it weighs the implications of growing competition in electronics.

Bjorn Larsen and Anwar Shah

For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

Thomas Helbling Nese Erbil and Mrs. Marina V Rousset

'Crisis Shakes Europe: Stark Choices Ahead' looks at the harsh toll of the crisis on both Europe's advanced and emerging economies because of the global nature of the shocks that have hit both the financial sector and the real economy, and because of Europe's strong regional and global trade links. Marek Belka, Director of the IMF's European Department, writes in our lead article that beyond the immediate need for crisis management, Europe must revisit the frameworks on which the European Union is based because many have been revealed to be flawed or missing. But in many respects, one key European institution has proved its mettle—the euro. Both Charles Wyplosz and Barry Eichengreen discuss the future of the common currency. Also in this issue, IMF economists rank the current recession as the most severe in the postwar period; John Lipsky, the Fund's First Deputy Managing Director, examines the IMF's role in a postcrisis world; and Giovanni Dell'Ariccia assesses what we have learned about how to manage asset price booms to prevent the bust that has caused such havoc. In addition, we talk to Oxford economist Paul Collier about how to help low-income countries during the current crisis, while Donald Kaberuka, President of the African Development Bank, writes about how African policymakers can prepare to take advantage of a global economic recovery. 'Picture This' looks at what happens when aggressive monetary policy combats a crisis; 'Back to Basics' gives a primer on fiscal policy; and 'Data Spotlight' takes a look at the recent large swings in commodity prices.

Mr. Benedict J. Clements, Mr. David Coady, Ms. Stefania Fabrizio, Mr. Sanjeev Gupta, Mr. Trevor Serge Coleridge Alleyne, and Mr. Carlo A Sdralevich

Abstract

Energy subsidies are aimed at protecting consumers, however, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. This book provides the most comprehensive estimates of energy subsidies currently available for 176 countries and an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.

Mr. Benedict J. Clements, Mr. David Coady, Ms. Stefania Fabrizio, Mr. Sanjeev Gupta, Mr. Trevor Serge Coleridge Alleyne, and Mr. Carlo A Sdralevich

Abstract

Energy subsidies have wide-ranging economic consequences. Although they are aimed at protecting consumers, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. Subsidies also distort resource allocation by encouraging excessive energy consumption, artificially promoting capital-intensive industries, reducing incentives for investment in renewable energy, and accelerating the depletion of natural resources. Most subsidy benefits are captured by higher-income households, reinforcing inequality. Even future generations are affected through the damaging effects of increased energy consumption on global warming. This book provides (1) the most comprehensive estimates of energy subsidies currently available for 176 countries and (2) an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.

International Monetary Fund. External Relations Dept.
This paper highlights that the 1980 Annual Meeting of the Board of Governors of the IMF affirmed the willingness of the IMF to evolve, under its charter, to meet new circumstances; but in some ways there was a departure from the past. Two substantive problems dominated the Meeting: the persistence of high inflation as a worldwide problem and the large payments deficits engulfing the non-oil developing countries. There was general agreement that these were the immediate threats to international monetary stability.