| Description |
1 online resource (33 pages) : color illustrations |
| Series |
IMF working paper ; WP/11/102 |
|
IMF working paper ; WP/11/102.
|
| Contents |
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Cross-Country Experiences on Petroleum Pricing Policies; III. Linkages and Convergence in Petroleum Product Prices in West Africa; IV. Conclusions and Policy Implications; A. Annex: Variables Definitions and Sources; B. Annex: Panel Unit Root Tests for Gasoline, Kerosene and Diesel Prices; C. Annex: Panel Unit Root Tests for International Relative Prices; V. References; Footnotes |
| Summary |
This paper addresses a number of issues regarding petroleum product pricing in Western Africa emphasizing international spillovers. We use panel unit root rests and long-run modeling based on vector error correction models to assess links and convergence in petroleum product prices across countries. Our results indicate that in general over the long-run there is convergence in prices across the countries. The estimation results for gasoline and diesel prices suggest the presence of long-run links between retail prices among the different country groupings with long-run multipliers ranging from 11 to -6.66. The speed of Adjustment to equilibrium varies significantly according to the country groupings considered. In contrast, the econometric results for kerosene prices not only indicate a weaker link between prices across countries, but also a much slower adjustment to equilibrium. In light of these important spillovers, the need to better coordinate pricings and tax policies towards petroleum products at the regional level becomes apparent |
| Bibliography |
Includes bibliographical references |
| Notes |
English |
| Subject |
Petroleum products -- Prices -- Africa, West -- Econometric models
|
|
Petroleum products -- Prices -- Econometric models
|
|
West Africa
|
| Form |
Electronic book
|
| Author |
David, Antonio C., author.
|
|
International Monetary Fund, issuing body.
|
| ISBN |
1455256331 |
|
9781455256334 |
|
9781455260379 |
|
1455260371 |
|
1283552582 |
|
9781283552585 |
|
9781462387922 |
|
1462387926 |
|
1462395996 |
|
9781462395996 |
|
9786613865038 |
|
6613865036 |
|
