The Impact of Higher Oil Prices on Low Income Countries and on the Poor
The rapid and large oil price rise experienced during 2004 has created widespread concern about its impact on low income countries and on poor households in many countries. To appreciate the magnitude of this impact and to formulate policies to ame...
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| Format: | ESMAP Paper |
| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2005/03/5705238/impact-higher-oil-prices-low-income-countries-poor http://hdl.handle.net/10986/18076 |
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okr-10986-180762021-04-23T14:03:38Z The Impact of Higher Oil Prices on Low Income Countries and on the Poor World Bank ALTERNATIVE FUELS BALANCE OF PAYMENTS BIOMASS CAPITAL MARKETS COAL CONSUMERS CONSUMPTION PATTERNS COST INCREASE COST OF LIVING DECISION MAKING DEVELOPED COUNTRIES DEVELOPMENT/THE ECONOMIC RESEARCH ELASTICITY ENERGY EFFICIENCY EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPECTED VALUE EXPENDITURES EXPORTS FUELS GDP GDP PER CAPITA GEOLOGY GOVERNMENT SUBSIDIES GROSS DOMESTIC PRODUCT IMPORTS INCOME INCOME GROUPS INFLATION IRREVERSIBILITY MACROECONOMIC ADJUSTMENT MARKET FORCES NET EXPORTS NET IMPORTS NI/GDP NONRENEWABLE RESOURCES OIL OIL PRICES OIL RESERVES OIL SECTOR OPEC PER CAPITA INCOME PER CAPITA INCOMES PRICE CHANGES PRICE ELASTICITIES PRICE ELASTICITY PRICE ELASTICITY OF DEMAND PRICE INCREASES PRICE RISK PRODUCERS REAL INCOME REAL WAGES SAVINGS SUBSTITUTION SURPLUS SUSTAINABLE DEVELOPMENT TAX REVENUE TAX REVENUES TECHNICAL ASSISTANCE UNEMPLOYMENT VOLATILITY The rapid and large oil price rise experienced during 2004 has created widespread concern about its impact on low income countries and on poor households in many countries. To appreciate the magnitude of this impact and to formulate policies to ameliorate these effects, a number of questions need to be answered. What are the routes by which countries are impacted? Which countries are most vulnerable to oil shocks? What determines the degree of vulnerability to such shocks? How much are the poor in various countries impacted by the effects of higher oil prices? What policies can reduce the vulnerability of countries to oil shocks, both immediately and in the medium to long run? Three levels of analysis are used to discuss these issues: the macroeconomic, that looks at the direct impact of the balance of payments and the necessary adjustment of GDP to restore equilibrium; the mesoeconomic, that looks at factors which determine a country's propensity to be a net oil importers, including oil self-sufficiency, oil dependence and energy intensity; and the microeconomic that looks at the direct impact and indirect impacts on households of an increase in oil prices. 2014-04-25T20:32:10Z 2014-04-25T20:32:10Z 2005-03 http://documents.worldbank.org/curated/en/2005/03/5705238/impact-higher-oil-prices-low-income-countries-poor http://hdl.handle.net/10986/18076 English en_US Energy Sector Management Assistance Programme (ESMAP);ESM 299 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Publications & Research :: ESMAP Paper Publications & Research |
| 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 |
ALTERNATIVE FUELS BALANCE OF PAYMENTS BIOMASS CAPITAL MARKETS COAL CONSUMERS CONSUMPTION PATTERNS COST INCREASE COST OF LIVING DECISION MAKING DEVELOPED COUNTRIES DEVELOPMENT/THE ECONOMIC RESEARCH ELASTICITY ENERGY EFFICIENCY EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPECTED VALUE EXPENDITURES EXPORTS FUELS GDP GDP PER CAPITA GEOLOGY GOVERNMENT SUBSIDIES GROSS DOMESTIC PRODUCT IMPORTS INCOME INCOME GROUPS INFLATION IRREVERSIBILITY MACROECONOMIC ADJUSTMENT MARKET FORCES NET EXPORTS NET IMPORTS NI/GDP NONRENEWABLE RESOURCES OIL OIL PRICES OIL RESERVES OIL SECTOR OPEC PER CAPITA INCOME PER CAPITA INCOMES PRICE CHANGES PRICE ELASTICITIES PRICE ELASTICITY PRICE ELASTICITY OF DEMAND PRICE INCREASES PRICE RISK PRODUCERS REAL INCOME REAL WAGES SAVINGS SUBSTITUTION SURPLUS SUSTAINABLE DEVELOPMENT TAX REVENUE TAX REVENUES TECHNICAL ASSISTANCE UNEMPLOYMENT VOLATILITY |
| spellingShingle |
ALTERNATIVE FUELS BALANCE OF PAYMENTS BIOMASS CAPITAL MARKETS COAL CONSUMERS CONSUMPTION PATTERNS COST INCREASE COST OF LIVING DECISION MAKING DEVELOPED COUNTRIES DEVELOPMENT/THE ECONOMIC RESEARCH ELASTICITY ENERGY EFFICIENCY EQUILIBRIUM EXCHANGE RATE EXCHANGE RATES EXPECTED VALUE EXPENDITURES EXPORTS FUELS GDP GDP PER CAPITA GEOLOGY GOVERNMENT SUBSIDIES GROSS DOMESTIC PRODUCT IMPORTS INCOME INCOME GROUPS INFLATION IRREVERSIBILITY MACROECONOMIC ADJUSTMENT MARKET FORCES NET EXPORTS NET IMPORTS NI/GDP NONRENEWABLE RESOURCES OIL OIL PRICES OIL RESERVES OIL SECTOR OPEC PER CAPITA INCOME PER CAPITA INCOMES PRICE CHANGES PRICE ELASTICITIES PRICE ELASTICITY PRICE ELASTICITY OF DEMAND PRICE INCREASES PRICE RISK PRODUCERS REAL INCOME REAL WAGES SAVINGS SUBSTITUTION SURPLUS SUSTAINABLE DEVELOPMENT TAX REVENUE TAX REVENUES TECHNICAL ASSISTANCE UNEMPLOYMENT VOLATILITY World Bank The Impact of Higher Oil Prices on Low Income Countries and on the Poor |
| relation |
Energy Sector Management Assistance
Programme (ESMAP);ESM 299 |
| description |
The rapid and large oil price rise
experienced during 2004 has created widespread concern about
its impact on low income countries and on poor households in
many countries. To appreciate the magnitude of this impact
and to formulate policies to ameliorate these effects, a
number of questions need to be answered. What are the routes
by which countries are impacted? Which countries are most
vulnerable to oil shocks? What determines the degree of
vulnerability to such shocks? How much are the poor in
various countries impacted by the effects of higher oil
prices? What policies can reduce the vulnerability of
countries to oil shocks, both immediately and in the medium
to long run? Three levels of analysis are used to discuss
these issues: the macroeconomic, that looks at the direct
impact of the balance of payments and the necessary
adjustment of GDP to restore equilibrium; the mesoeconomic,
that looks at factors which determine a country's
propensity to be a net oil importers, including oil
self-sufficiency, oil dependence and energy intensity; and
the microeconomic that looks at the direct impact and
indirect impacts on households of an increase in oil prices. |
| format |
Publications & Research :: ESMAP Paper |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
The Impact of Higher Oil Prices on Low Income Countries and on the Poor |
| title_short |
The Impact of Higher Oil Prices on Low Income Countries and on the Poor |
| title_full |
The Impact of Higher Oil Prices on Low Income Countries and on the Poor |
| title_fullStr |
The Impact of Higher Oil Prices on Low Income Countries and on the Poor |
| title_full_unstemmed |
The Impact of Higher Oil Prices on Low Income Countries and on the Poor |
| title_sort |
impact of higher oil prices on low income countries and on the poor |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2005/03/5705238/impact-higher-oil-prices-low-income-countries-poor http://hdl.handle.net/10986/18076 |
| _version_ |
1764437232786079744 |