The Challenges of High Food and Fuel Prices

The increase in the price of oil and food carry major adverse poverty and macroeconomic implications especially for fragile and small states and for low income households in all developing countries. In terms of their impact on income distribution,...

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Main Author:	World Bank
Format:	Other Public Sector Study
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ADVERSE IMPACTS AGRICULTURAL ECONOMICS AGRICULTURE BALANCE OF PAYMENTS BANK LENDING BANK POLICY BENCHMARK CAPITAL INFLOWS CASH TRANSFERS CEREALS COMMODITIES COMMODITY COMMODITY PRICE COMMODITY PRICES CONSUMERS CONTINGENCY PLANS CROSS-BORDER FLOWS CURRENT ACCOUNT DEFICITS DEBT DEBT BURDEN DEBT FORGIVENESS DEBT MANAGEMENT DEBT POLICY DEBT RELIEF DELIVERY MECHANISMS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING MARKETS DEVELOPMENT ASSISTANCE DEVELOPMENT FINANCE DEVELOPMENT POLICY DISBURSEMENTS DOMESTIC MARKETS ECONOMETRICS ECONOMIC DEVELOPMENT ECONOMIC OUTLOOK EDIBLE OILS ENERGY PRICE ENERGY PRICES EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORTERS EXPORTS FACTORS OF PRODUCTION FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL SUPPORT FINANCIAL SYSTEMS FINANCIAL WEAKNESSES FISCAL CAPACITY FISCAL DEFICIT FISCAL POLICY FOOD AID FOOD GRAINS FOOD PRICE FOOD PRICES FOOD PRODUCTS FOOD SUBSIDIES GDP GLOBAL DEVELOPMENT FINANCE GLOBAL ECONOMY GLOBAL FINANCIAL MARKETS GOOD GOVERNANCE GOVERNMENT EXPENDITURE GOVERNMENT SPENDING GRAINS GROUNDNUTS HUMAN CAPITAL INCOME INCOMES INFLATION INFLATION EXPECTATIONS INFLATIONARY EXPECTATIONS INFLATIONARY PRESSURES INFRASTRUCTURE FINANCE INFRASTRUCTURE INVESTMENT INTEREST RATES INTERNATIONAL MARKETS INTERNATIONAL SECURITY INTERNATIONAL TRADE LEVEL OF DEBT LIQUIDITY LOW-INCOME COUNTRIES MACROECONOMIC CONTEXT MACROECONOMIC POLICIES MAIZE MIDDLE INCOME COUNTRIES MIDDLE-INCOME COUNTRIES MONETARY POLICY MULTILATERAL TRADE NEW PRODUCTS OIL PRICE OIL PRICES OUTPUT OUTSOURCING POLICY RESPONSE POLICY RESPONSES POVERTY ALLEVIATION PRICE CHANGE PRICE CHANGES PRICE INCREASE PRICE INCREASES PRICE INDICES PRICE SETTING PRICE VOLATILITY RAPID EXPANSION RAPID GROWTH REAL EXCHANGE RATE REAL EXCHANGE RATES REDISTRIBUTIVE EFFECTS REGULATORY CONSTRAINTS REPAYMENTS REPAYMENTS OF PRINCIPAL RESERVES SAFETY NETS SOCIAL PROTECTION SOYBEANS STOCK MARKETS STOCKS SUBSTITUTE TAX TAX RATE TRADE NEGOTIATIONS TRADE POLICY TRUST FUND TRUST FUNDS VEGETABLE OILS VOLATILITY WAGES WHEAT WORLD ECONOMY WORLD TRADE
Online Access:	http://documents.worldbank.org/curated/en/2008/10/16461515/challenges-high-food-fuel-prices http://hdl.handle.net/10986/12692

id	okr-10986-12692
recordtype	oai_dc
spelling	okr-10986-126922021-04-23T14:03:05Z The Challenges of High Food and Fuel Prices World Bank ADVERSE IMPACTS AGRICULTURAL ECONOMICS AGRICULTURE BALANCE OF PAYMENTS BANK LENDING BANK POLICY BENCHMARK CAPITAL INFLOWS CASH TRANSFERS CEREALS COMMODITIES COMMODITY COMMODITY PRICE COMMODITY PRICES CONSUMERS CONTINGENCY PLANS CROSS-BORDER FLOWS CURRENT ACCOUNT DEFICITS DEBT DEBT BURDEN DEBT FORGIVENESS DEBT MANAGEMENT DEBT POLICY DEBT RELIEF DELIVERY MECHANISMS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING MARKETS DEVELOPMENT ASSISTANCE DEVELOPMENT FINANCE DEVELOPMENT POLICY DISBURSEMENTS DOMESTIC MARKETS ECONOMETRICS ECONOMIC DEVELOPMENT ECONOMIC OUTLOOK EDIBLE OILS ENERGY PRICE ENERGY PRICES EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORTERS EXPORTS FACTORS OF PRODUCTION FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL SUPPORT FINANCIAL SYSTEMS FINANCIAL WEAKNESSES FISCAL CAPACITY FISCAL DEFICIT FISCAL POLICY FOOD AID FOOD GRAINS FOOD PRICE FOOD PRICES FOOD PRODUCTS FOOD SUBSIDIES GDP GLOBAL DEVELOPMENT FINANCE GLOBAL ECONOMY GLOBAL FINANCIAL MARKETS GOOD GOVERNANCE GOVERNMENT EXPENDITURE GOVERNMENT SPENDING GRAINS GROUNDNUTS HUMAN CAPITAL INCOME INCOMES INFLATION INFLATION EXPECTATIONS INFLATIONARY EXPECTATIONS INFLATIONARY PRESSURES INFRASTRUCTURE FINANCE INFRASTRUCTURE INVESTMENT INTEREST RATES INTERNATIONAL MARKETS INTERNATIONAL SECURITY INTERNATIONAL TRADE LEVEL OF DEBT LIQUIDITY LOW-INCOME COUNTRIES MACROECONOMIC CONTEXT MACROECONOMIC POLICIES MAIZE MIDDLE INCOME COUNTRIES MIDDLE-INCOME COUNTRIES MONETARY POLICY MULTILATERAL TRADE NEW PRODUCTS OIL PRICE OIL PRICES OUTPUT OUTSOURCING POLICY RESPONSE POLICY RESPONSES POVERTY ALLEVIATION PRICE CHANGE PRICE CHANGES PRICE INCREASE PRICE INCREASES PRICE INDICES PRICE SETTING PRICE VOLATILITY RAPID EXPANSION RAPID GROWTH REAL EXCHANGE RATE REAL EXCHANGE RATES REDISTRIBUTIVE EFFECTS REGULATORY CONSTRAINTS REPAYMENTS REPAYMENTS OF PRINCIPAL RESERVES SAFETY NETS SOCIAL PROTECTION SOYBEANS STOCK MARKETS STOCKS SUBSTITUTE TAX TAX RATE TRADE NEGOTIATIONS TRADE POLICY TRUST FUND TRUST FUNDS VEGETABLE OILS VOLATILITY WAGES WHEAT WORLD ECONOMY WORLD TRADE The increase in the price of oil and food carry major adverse poverty and macroeconomic implications especially for fragile and small states and for low income households in all developing countries. In terms of their impact on income distribution, inflation, and poverty food prices are of greater and more immediate concern than high fuel prices. However, the impact of the oil price increase on economic growth is likely to be negative and the challenge of crafting appropriate policy responses to the food crisis is made much harder in a context of rising oil prices and ensuing fiscal and balance of payments pressures. This paper describes what has happened to fuel and oil prices over the past two years and links these developments to the macro-economic international context. It goes on to describe the consequences of the oil and food price increase for developing countries and especially for fragile and small states in the commonwealth. The paper also discusses policy instruments that may contribute to ameliorate the impact of the changes. Finally, it describes how the World Bank can support countries' efforts in addressing these price shocks. 2013-03-13T14:22:35Z 2013-03-13T14:22:35Z 2008-10 http://documents.worldbank.org/curated/en/2008/10/16461515/challenges-high-food-fuel-prices http://hdl.handle.net/10986/12692 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Other Public Sector Study Economic & Sector Work
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ADVERSE IMPACTS AGRICULTURAL ECONOMICS AGRICULTURE BALANCE OF PAYMENTS BANK LENDING BANK POLICY BENCHMARK CAPITAL INFLOWS CASH TRANSFERS CEREALS COMMODITIES COMMODITY COMMODITY PRICE COMMODITY PRICES CONSUMERS CONTINGENCY PLANS CROSS-BORDER FLOWS CURRENT ACCOUNT DEFICITS DEBT DEBT BURDEN DEBT FORGIVENESS DEBT MANAGEMENT DEBT POLICY DEBT RELIEF DELIVERY MECHANISMS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING MARKETS DEVELOPMENT ASSISTANCE DEVELOPMENT FINANCE DEVELOPMENT POLICY DISBURSEMENTS DOMESTIC MARKETS ECONOMETRICS ECONOMIC DEVELOPMENT ECONOMIC OUTLOOK EDIBLE OILS ENERGY PRICE ENERGY PRICES EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORTERS EXPORTS FACTORS OF PRODUCTION FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL SUPPORT FINANCIAL SYSTEMS FINANCIAL WEAKNESSES FISCAL CAPACITY FISCAL DEFICIT FISCAL POLICY FOOD AID FOOD GRAINS FOOD PRICE FOOD PRICES FOOD PRODUCTS FOOD SUBSIDIES GDP GLOBAL DEVELOPMENT FINANCE GLOBAL ECONOMY GLOBAL FINANCIAL MARKETS GOOD GOVERNANCE GOVERNMENT EXPENDITURE GOVERNMENT SPENDING GRAINS GROUNDNUTS HUMAN CAPITAL INCOME INCOMES INFLATION INFLATION EXPECTATIONS INFLATIONARY EXPECTATIONS INFLATIONARY PRESSURES INFRASTRUCTURE FINANCE INFRASTRUCTURE INVESTMENT INTEREST RATES INTERNATIONAL MARKETS INTERNATIONAL SECURITY INTERNATIONAL TRADE LEVEL OF DEBT LIQUIDITY LOW-INCOME COUNTRIES MACROECONOMIC CONTEXT MACROECONOMIC POLICIES MAIZE MIDDLE INCOME COUNTRIES MIDDLE-INCOME COUNTRIES MONETARY POLICY MULTILATERAL TRADE NEW PRODUCTS OIL PRICE OIL PRICES OUTPUT OUTSOURCING POLICY RESPONSE POLICY RESPONSES POVERTY ALLEVIATION PRICE CHANGE PRICE CHANGES PRICE INCREASE PRICE INCREASES PRICE INDICES PRICE SETTING PRICE VOLATILITY RAPID EXPANSION RAPID GROWTH REAL EXCHANGE RATE REAL EXCHANGE RATES REDISTRIBUTIVE EFFECTS REGULATORY CONSTRAINTS REPAYMENTS REPAYMENTS OF PRINCIPAL RESERVES SAFETY NETS SOCIAL PROTECTION SOYBEANS STOCK MARKETS STOCKS SUBSTITUTE TAX TAX RATE TRADE NEGOTIATIONS TRADE POLICY TRUST FUND TRUST FUNDS VEGETABLE OILS VOLATILITY WAGES WHEAT WORLD ECONOMY WORLD TRADE
spellingShingle	ADVERSE IMPACTS AGRICULTURAL ECONOMICS AGRICULTURE BALANCE OF PAYMENTS BANK LENDING BANK POLICY BENCHMARK CAPITAL INFLOWS CASH TRANSFERS CEREALS COMMODITIES COMMODITY COMMODITY PRICE COMMODITY PRICES CONSUMERS CONTINGENCY PLANS CROSS-BORDER FLOWS CURRENT ACCOUNT DEFICITS DEBT DEBT BURDEN DEBT FORGIVENESS DEBT MANAGEMENT DEBT POLICY DEBT RELIEF DELIVERY MECHANISMS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING MARKETS DEVELOPMENT ASSISTANCE DEVELOPMENT FINANCE DEVELOPMENT POLICY DISBURSEMENTS DOMESTIC MARKETS ECONOMETRICS ECONOMIC DEVELOPMENT ECONOMIC OUTLOOK EDIBLE OILS ENERGY PRICE ENERGY PRICES EXCHANGE RATE EXCHANGE RATES EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORTERS EXPORTS FACTORS OF PRODUCTION FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RISKS FINANCIAL SUPPORT FINANCIAL SYSTEMS FINANCIAL WEAKNESSES FISCAL CAPACITY FISCAL DEFICIT FISCAL POLICY FOOD AID FOOD GRAINS FOOD PRICE FOOD PRICES FOOD PRODUCTS FOOD SUBSIDIES GDP GLOBAL DEVELOPMENT FINANCE GLOBAL ECONOMY GLOBAL FINANCIAL MARKETS GOOD GOVERNANCE GOVERNMENT EXPENDITURE GOVERNMENT SPENDING GRAINS GROUNDNUTS HUMAN CAPITAL INCOME INCOMES INFLATION INFLATION EXPECTATIONS INFLATIONARY EXPECTATIONS INFLATIONARY PRESSURES INFRASTRUCTURE FINANCE INFRASTRUCTURE INVESTMENT INTEREST RATES INTERNATIONAL MARKETS INTERNATIONAL SECURITY INTERNATIONAL TRADE LEVEL OF DEBT LIQUIDITY LOW-INCOME COUNTRIES MACROECONOMIC CONTEXT MACROECONOMIC POLICIES MAIZE MIDDLE INCOME COUNTRIES MIDDLE-INCOME COUNTRIES MONETARY POLICY MULTILATERAL TRADE NEW PRODUCTS OIL PRICE OIL PRICES OUTPUT OUTSOURCING POLICY RESPONSE POLICY RESPONSES POVERTY ALLEVIATION PRICE CHANGE PRICE CHANGES PRICE INCREASE PRICE INCREASES PRICE INDICES PRICE SETTING PRICE VOLATILITY RAPID EXPANSION RAPID GROWTH REAL EXCHANGE RATE REAL EXCHANGE RATES REDISTRIBUTIVE EFFECTS REGULATORY CONSTRAINTS REPAYMENTS REPAYMENTS OF PRINCIPAL RESERVES SAFETY NETS SOCIAL PROTECTION SOYBEANS STOCK MARKETS STOCKS SUBSTITUTE TAX TAX RATE TRADE NEGOTIATIONS TRADE POLICY TRUST FUND TRUST FUNDS VEGETABLE OILS VOLATILITY WAGES WHEAT WORLD ECONOMY WORLD TRADE World Bank The Challenges of High Food and Fuel Prices
description	The increase in the price of oil and food carry major adverse poverty and macroeconomic implications especially for fragile and small states and for low income households in all developing countries. In terms of their impact on income distribution, inflation, and poverty food prices are of greater and more immediate concern than high fuel prices. However, the impact of the oil price increase on economic growth is likely to be negative and the challenge of crafting appropriate policy responses to the food crisis is made much harder in a context of rising oil prices and ensuing fiscal and balance of payments pressures. This paper describes what has happened to fuel and oil prices over the past two years and links these developments to the macro-economic international context. It goes on to describe the consequences of the oil and food price increase for developing countries and especially for fragile and small states in the commonwealth. The paper also discusses policy instruments that may contribute to ameliorate the impact of the changes. Finally, it describes how the World Bank can support countries' efforts in addressing these price shocks.
format	Economic & Sector Work :: Other Public Sector Study
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	The Challenges of High Food and Fuel Prices
title_short	The Challenges of High Food and Fuel Prices
title_full	The Challenges of High Food and Fuel Prices
title_fullStr	The Challenges of High Food and Fuel Prices
title_full_unstemmed	The Challenges of High Food and Fuel Prices
title_sort	challenges of high food and fuel prices
publisher	Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2008/10/16461515/challenges-high-food-fuel-prices http://hdl.handle.net/10986/12692
_version_	1764421707138859008

The Challenges of High Food and Fuel Prices

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