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Modeling Macro-Critical Energy Sectors in Low-Income Countries: A General Framework and an Application to Côte d’Ivoire
Author:
Holger Fabig
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Series:
IMF Working Papers
Volume/Issue:
Volume 2008: Issue 156
Language:
English
Publication Date:
01 Jun 2008
DOI:
https://doi.org/10.5089/9781451870145.001
ISBN:
9781451870145
ISSN:
1018-5941
Pages:
30
Keywords:
WP; supply and demand; exchange rate; natural resource
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper proposes a general framework for monitoring macro-critical energy sectors in low-income countries, defined as consisting of the three subsectors of crude oil and natural gas production, refinery, and electricity production. It aims to derive consistent information on physical and financial flows in the sector, including on interlinkages between the subsectors. It then applies this framework to Côte d'Ivoire. While being an important source of growth, the Ivoirien energy sector is found to have important shortcomings, in particular as regards transparency, efficiency and contribution to fiscal revenue. Among the key problems are partially intransparent production sharing arrangements for hydrocarbon production, price distortions for natural gas, administered prices for refined petroleum products, underfunding and lack of investment in the electricity sector, and inefficient government subsidies in the latter two subsectors.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund