Description |
1 online resource (80 pages) |
Series |
IMF Working Papers ; v. Working Paper No. 15/30 |
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IMF Working Papers
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Contents |
Cover; Contents; Executive Summary; I. Introduction; Figures; 1. Energy Subsidies: A Global Perspective (Percent of GDP); II. Taking Stock of Energy Subsidies in LAC countries; Tables; 1. Pre-tax Energy Subsidies (Percent of GDP, average 2011-13); 2. Pre-tax Energy Subsidies (Percent of GDP, average 2011-13; 2. Energy Subsidies and Economic Size (Average 2011-13); A. Fuel Subsidies in LAC; 3. Fuel Subsidies and Energy Richness (Average 2011-13); 4. Gasoline and Diesel Prices Including Taxes; 3. Selected Fuel Price Practices and Financing Regimes in LAC; B. Electricity Subsidies in LAC |
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4. Selected Electricity Price Practices and Financing Regimes in LACIII. Policy Challenges for LAC Arising from Energy Subsidies; A. Fiscal Costs; 5. Electricity Subsidies and Measures of Electricity Performance (Average 2011-13); 6. Energy Subsidies and Fiscal Deficits (Percent of GDP, Average 2011-13); B. Fiscal Transparency; 7. Energy Subsidies and Fiscal Revenues (Average 2011-13); C. The Energy Value Chain, SOEs, and Competitiveness; 8. Gasoline and Diesel Prices Net of Taxes; D. External Vulnerabilities; 9. Current Account and Oil Trade Balances |
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E. Household Welfare and Income Distribution10. Energy Subsidies and Fiscal Spending (Average 2011-13); F. Environmental and other Negative Externalities; IV. How and When to Reform Subsidy Policy? Experience from LAC countries; 11. Fuel Taxation and Negative Externalities (Current Excise Minus Corrective Tax, US/Liter, 2010); A. How to Rationalize Subsidies?; B. When to Rationalize Subsidies?; Annexes; I: Country Groupings; II: Data Sources; III: A Summary of Energy Policies in LAC countries; Boxes; 1. Measuring Fuel Subsidies by the Price-Gap Approach; 2. Measuring Electricity Subsidies |
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3. Energy Subsidies and Country Characteristics4. The Petrocaribe Arrangement; References |
Summary |
The oil price decline creates an opportunity to dismantle energy subsidies, which escalatedwith high oil prices. This paper assesses energy subsidies in Latin America and theCaribbean-about 1.8 percent of GDP in 2011-13 (approximately evenly split betweenfuel and electricity), and about 3.8 percent of GDP including negative externalities. Countries with poorer institutions subsidize more. Energy-rich countries subsidize fuelmore, but low-income countries are more likely to subsidize electricity, as are CentralAmerica and the Caribbean. Energy subsidies impose fiscal costs, hurting SOEs, competit |
Notes |
Print version record |
Subject |
Natural resources -- Latin America
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Energy industries -- Latin America
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Fiscal policy -- Latin America
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Government business enterprises -- Latin America
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Natural resources -- Caribbean Area
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Energy industries
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Fiscal policy
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Government business enterprises
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Natural resources
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Caribbean Area
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Latin America
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Form |
Electronic book
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Author |
Norton, Lawrence
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Ntamatungiro, Joseph
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Ogawa, Sumiko
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Samaké, Issouf
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Santoro, Marika
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ISBN |
9781498379915 |
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1498379915 |
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