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Record Nr. |
UNINA9910788695203321 |
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Autore |
Tadesse Helaway |
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Titolo |
Weathering the Storm So Far : : The Impact of the 2003–05 Oil Shock on Low-Income Countries / / Helaway Tadesse, Mark Lewis, Jörg Zeuner, James John, Luzmaria Monasi, Paolo Dudine |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-7906-0 |
1-4527-8243-1 |
1-283-51810-4 |
1-4519-8620-3 |
9786613830555 |
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Descrizione fisica |
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1 online resource (33 p.) |
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Collana |
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Altri autori (Persone) |
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LewisMark |
ZeunerJörg |
JohnJames |
MonasiLuzmaria |
DudinePaolo |
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Soggetti |
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Balance of payments - Developing countries |
Petroleum industry and trade - Economic aspects - Developing countries |
Petroleum products - Prices |
Investments: Energy |
Exports and Imports |
Macroeconomics |
Energy: General |
Energy: Demand and Supply |
Prices |
Trade: General |
Current Account Adjustment |
Short-term Capital Movements |
Investment & securities |
International economics |
Oil |
Oil prices |
Imports |
Fuel prices |
Capital account |
Petroleum industry and trade |
Balance of payments |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. THE GLOBAL AND HISTORICAL CONTEXT""; ""III. Balance of Payments Impact""; ""IV. FISCAL IMPACT""; ""V. LOOKING FORWARD POSSIBLE VULNERABILITIES""; ""VI. CONCLUSIONS AND IMPLICATIONS FOR DEMAND FOR IMF RESOURCES""; ""APPENDIX I COMPARISON TO OIL SHOCKS OF THE 1970's""; ""APPENDIX II ECONOMETRIC ANALYSIS"" |
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Sommario/riassunto |
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This paper examines the impact of the 2003-05 oil price increase on the balance of payments positions and IMF financing needs of low-income country oil importers. It finds that stronger exports reflecting favorable global conditions, a compression of oil import volumes due to the pass-through of world prices to domestic consumers, and a large increase in capital inflows helped low-income countries cope with the oil price shock. Preliminary data suggest that reductions in oil import volumes have not harmed growth. While fiscal balances generally improved, quasi-fiscal liabilities may be building. Lower demand for IMF assistance may reflect broader trends, but further oil price increases could put pressure on additional countries in 2006 and beyond. |
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