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Author Dudine, P. (Paolo), author.

Title Weathering the storm so far : the impact of the 2003-05 oil shock on low-income countries / Paolo Dudine [and others]
Published [Washington, D.C.] : International Monetary Fund, Policy Development and Review Dept., 2006

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Description 1 online resource (31 pages) : illustrations
Series IMF working paper ; WP/06/171
IMF working paper ; WP/06/171.
Contents 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 1970S -- APPENDIX II�ECONOMETRIC ANALYSIS
Summary 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
Bibliography Includes bibliographical references
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL
English
Print version record
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Subject International Monetary Fund -- Developing countries
SUBJECT International Monetary Fund fast
Subject Balance of payments -- Developing countries
Petroleum industry and trade -- Economic aspects -- Developing countries
Petroleum products -- Prices.
Balance of payments
Petroleum industry and trade -- Economic aspects
Petroleum products -- Prices
Developing countries
Form Electronic book
Author International Monetary Fund. Policy Development and Review Department.
ISBN 1283518104
9781283518109
9781451986204
1451986203
1462379060
9781462379064
1452782431
9781452782430
9786613830555
6613830550