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Energy Pricing Policies For Inclusive Growth In Latin America And The Caribbean
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Book Synopsis Energy Pricing Policies for Inclusive Growth in Latin America and the Caribbean by : Guillermo Beylis
Download or read book Energy Pricing Policies for Inclusive Growth in Latin America and the Caribbean written by Guillermo Beylis and published by World Bank Publications. This book was released on 2017-10-02 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government strategies for setting energy prices are not uniform across the Latin America and the Caribbean (LAC) region—or even across fuels. Instead, they cover a full spectrum, ranging from discretionary price-fixing at one end to pure market-based approaches at the other. In between is a wide variety of other schemes such as price stabilization funds, import or export parity pricing, price smoothing through tax levels, and targeted direct price subsidies or vouchers. Governments in the LAC region, however, tend to be small as measured by government revenues as a percentage of GDP. So their limited government resources have to be used wisely and be better targeted to the poor and vulnerable. Although energy subsidies are an inefficient policy tool for protecting the welfare of the poor, energy price increases can have a big impact on these households. Energy Pricing Policies for Inclusive Growth in Latin America and the Caribbean finds that energy subsidies are highly regressive in an absolute sense—that is, the lion’s share of every dollar spent on keeping energy prices low benefits wealthier households. However, subsidies for fuels that are widely used for cooking and heating—liquefied petroleum gas (LPG), natural gas, and kerosene—as well as for electricity, can be relatively neutral or progressive, implying that lower-income households capture benefits that are proportionate to their expenditures. In other words, although poorer households receive very little from every dollar spent on energy subsidies, that small amount may represent an important share of their expenditures. It is important, then, that governments expand the coverage and depth of their social safety nets to provide relief for poor households if energy prices rise. This report also finds that aggregate price impacts and the competitiveness effects of energy price increases are moderate to small and can be smoothed out through macropolicy responses.
Book Synopsis Zooming into Successful Energy Policies in Latin America and the Caribbean by : María Eugenia Sanin
Download or read book Zooming into Successful Energy Policies in Latin America and the Caribbean written by María Eugenia Sanin and published by Inter-American Development Bank. This book was released on 2019-12-16 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Due to the lack of systematic policy evaluations, identifying successful policies in the Latin American and the Caribbean (LAC) region is a hunting task. Nevertheless, this type of analysis is crucial to inform policymakers in their decision-making process. Herein we contribute to filling this gap by assessing the progress in terms of energy services since the year 2000 and reviewing the policies that have led us to where we are.We focus on three fundamental dimensions in the definition of energy services: access to electricity and clean fuels for cooking, affordability of those energy services and quality considering both service’s interruptions and energy losses. We find that countries that have improved in all these dimensions simultaneously, catching up with the best performers in the region, are the ones that have implemented integrated policies that are part of a pluriannual plan, implemented in a strong institutional environment.Aside from macroeconomic differences, successful energy policies have in common the following characteristics: (i) important institutional reforms already in place by the end of the century; (ii) state-led plans that measure performance accounting for most dimensions simultaneously and including mechanisms to enforce preestablished objectives in targeted population; (iii) appropriate financing mechanisms to ensure affordability; and (iv) partnership with private stakeholders when their participation increases efficiency, adoption of innovation and ensure maintenance, either directly or through the involvement of local communities.Even if the discussion is presented dimension by dimension, two countries appear like having implemented successful integrated policies: Peru and Ecuador. Despite their institutional differences, they have succeeded in increasing access to affordable electricity that is more reliable (with less frequency and duration of interruptions). Additionally, Ecuador has also enhanced efficiency through electricity loss reduction thanks to enforceable performance-based regulation.Aside from these two countries, other countries have also implemented successful policies that have greatly improved one or two of the dimensions mentioned but fail to tackle all the issues simultaneously. This is the case of El Salvador with access to clean cooking and fuel subsidy reform, for example. Similarly, Nicaragua appears as an example in bridging the gap in access and Brazil, Colombia and more recently Argentina are implementing a mechanism to target demand-side subsidies based on family economic means.
Book Synopsis Energy Subsidies in Latin America and the Caribbean by : Mr.Gabriel Di Bella
Download or read book Energy Subsidies in Latin America and the Caribbean written by Mr.Gabriel Di Bella and published by International Monetary Fund. This book was released on 2015-02-12 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: The oil price decline creates an opportunity to dismantle energy subsidies, which escalated with high oil prices. This paper assesses energy subsidies in Latin America and the Caribbean—about 1.8 percent of GDP in 2011–13 (approximately evenly split between fuel and electricity), and about 3.8 percent of GDP including negative externalities. Countries with poorer institutions subsidize more. Energy-rich countries subsidize fuel more, but low-income countries are more likely to subsidize electricity, as are Central America and the Caribbean. Energy subsidies impose fiscal costs, hurting SOEs, competitiveness, and distribution. The paper overviews country experience with subsidy reform, drawing lessons.
Book Synopsis Mitigating Vulnerability to High and Volatile Oil Prices by : Rigoberto Ariel Yépez-García
Download or read book Mitigating Vulnerability to High and Volatile Oil Prices written by Rigoberto Ariel Yépez-García and published by World Bank Publications. This book was released on 2012-06-21 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unprecedented rise in world oil prices over the past decade has created greater economic uncertainty and higher risk introduced by oil price volatility. Countries with a high proportion of oil in their primary energy supply are especially vulnerable. At both macro and micro levels, such countries may suffer serious effects, ranging from short-term to permanent changes that hinder potential growth and international competitiveness. Mitigating Vulnerability to High and Volatile Oil Prices: Power Sector Experience in Latin America and the Caribbean offers an assessment of how these countries can better cope with high and volatile oil prices. The book first analyzes the economic effects of high and volatile prices on oil-importing countries, with emphasis on power sector experience in Latin America and the Caribbean. Second, it proposes complementary measures that can be applied using a multi-horizon strategy. To manage price risk, various physical and financial hedging tools are available to governments of oil-importing countries. To reduce oil dependence over the longer term, the book proposes implementing three structural measures: a more diversified electricity generation matrix, better energy efficiency in electricity production and use, and regional integration with more diversified power systems. Finally, the book quantifies some of the macro- and micro-level benefits that could result from implementing these measures. In the subregions examined, significant savings in the cost of fuel purchases-up to 5 percent of gross domestic product-could accrue to heavily oil-dependent countries. The aggregate effect would not only be a reduction in energy expenditures. It would mean less vulnerability to the impact of high and volatile oil prices. While much of the book's analysis refers to Central America and the Caribbean, the underlying principles of the policy recommendations can be applied to any oil-importing country seeking to mitigate vulnerability to high and volatile oil prices.
Book Synopsis Globalisation and Energy Transition in Latin America and the Caribbean by : Matheus Koengkan
Download or read book Globalisation and Energy Transition in Latin America and the Caribbean written by Matheus Koengkan and published by Springer Nature. This book was released on 2022-10-13 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the potential for renewable energy development and the adoption of sustainable production processes in Latin America and the Caribbean. By examining the energy transition process, the impact of environmental degradation, and the relationship between renewable energy sources and economic growth, the effects of increased globalisation and liberalisation in this part of the world are analysed. Particular attention is given to renewable energy investment, the energy-economics growth nexus, the impact of trade openness, and the mitigation of carbon emissions. This book aims to highlight econometric techniques that can be used to tackle issues relating to globalisation, the energy transition, and environmental degradation. It will be relevant to researchers and policymakers interested in energy and environmental economics.
Book Synopsis Tax Policy for Inclusive Growth in Latin America and the Caribbean by : Santiago Acosta-Ormaechea
Download or read book Tax Policy for Inclusive Growth in Latin America and the Caribbean written by Santiago Acosta-Ormaechea and published by International Monetary Fund. This book was released on 2022-01-21 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax Policy for Inclusive Growth in Latin America and the Caribbean
Book Synopsis Energy and Development in Latin America by : Nazli Choucri
Download or read book Energy and Development in Latin America written by Nazli Choucri and published by Lexington, Mass. ; Toronto : Lexington Books. This book was released on 1982 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research report on the role of energy economics and energy policy in economic development in Latin America - discusses petroleum prices and market structure, alternative energy sources, population dynamics, transport policy, balance of payments, etc., and considers development planning, public enterprise in the petroleum industry, political aspects and social implications, regional cooperation and development policy. Bibliography pp. 193 to 219, graphs and statistical tables.
Book Synopsis Latin American Economic Outlook 2021 Working Together for a Better Recovery by : OECD
Download or read book Latin American Economic Outlook 2021 Working Together for a Better Recovery written by OECD and published by OECD Publishing. This book was released on 2021-12-02 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Latin American Economic Outlook 2021: Working Together for a Better Recovery aims to analyse and provide policy recommendations for a strong, inclusive and environmentally sustainable recovery in the region. The report explores policy actions to improve social protection mechanisms and increase social inclusion, foster regional integration and strengthen industrial strategies, and rethink the social contract to restore trust and empower citizens at all stages of the policy‐making process.
Book Synopsis Caribbean Energy by : Arnold McIntyre
Download or read book Caribbean Energy written by Arnold McIntyre and published by International Monetary Fund. This book was released on 2016-03-08 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: High energy costs contribute to dampening Caribbean competitiveness and potential growth. This paper overviews power sector challenges and takes stock of national and regional strategies to address them. It presents recommendations to move the energy agenda forward based on analyses of macro-aspects of energy reform. These include: i) quantitative assessment of the impact of energy costs on growth and competitiveness; ii) evaluation of gains from implementing announced renewable energy and energy efficiency targets; and iii) analysis of the impact of energy investments on debt sustainability. The paper argues for a bigger role for the private sector in energy reform and discusses prerequisites for good public-private partnerships.
Book Synopsis The Extended Energy–Growth Nexus by : Jose Alberto Fuinhas
Download or read book The Extended Energy–Growth Nexus written by Jose Alberto Fuinhas and published by Academic Press. This book was released on 2019-06-08 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Extended Energy-Growth Nexus: Theory and Empirical Applications advances the established bivariate econometric relationship which inextricably links energy consumption to economic growth. The book extends this "nexus" to accommodate variables such as globalization, institutional variables, financial variables and the energy "mix." Rooted firmly in the modern literature, it covers empirical applications such as the evaluation of renewable energy incentives, the electricity generation mix, and sustainable development. Each application area incorporates modern econometric methodologies, including VAR, panel VAR, ARDL, panel ARDL, Asymmetric panel ARDL, and Panel Quantile Regression. Throughout chapters are accompanied by illustrative Stata and EViews code, demonstrating their uses in applied research. Primes researchers to understand advanced literature and current methodologies within the energy-growth nexus Provides a rich set of working tools for econometricians working on real-world energy and growth problems Accompanied by representative databases and illustrative Stata and EViews code, facilitating replication and use
Download or read book Recovering Growth written by World Bank and published by World Bank Publications. This book was released on 2021-10-06 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: After its worst economic crisis in 100 years, Latin America and the Caribbean countries are emerging from the COVID†?19 pandemic. The need to recover dynamic, inclusive, and sustainable growth to redress both the legacy of the pandemic and long†?standing social needs has never been more acute. However, despite progress in some areas, the region is facing a weaker recovery than expected given the favorable international tailwinds and is likely return to the low growth rates of the 2010s. Moreover, growth could be further slowed by both internal and external factors: the emergence of a new variant of the virus, a rise in international interest rates to combat global inflation, and high levels of debt in both the private and public sector. Beyond offering the current macroeconomic outlook of the region and the near†?term challenges it faces, this report explores three broad areas where growth†?advancing policies and reforms could be undertaken within a constrained fiscal context: mobilizing sources of revenue that appear to be growthneutral; improving public spending efficiency to free up resources for other purposes; and reallocating spending to areas with highest growth and social impact.
Book Synopsis How Do Households Consume Energy?: Evidence from Latin American and Caribbean Countries by : Raul Jimenez Mori
Download or read book How Do Households Consume Energy?: Evidence from Latin American and Caribbean Countries written by Raul Jimenez Mori and published by Inter-American Development Bank. This book was released on 2020-11-22 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do households consume and spend on energy? What are the drivers of their spending and consumption patterns? How does energy consumption has evolved? What is to be expected as the region climbs the development ladder? What are the distributive implications of different energy pricing approaches? This book looks at these questions and examines which policies work in reducing energy poverty and increasing energy savings. The authors unveil the growing household demand of better quality of energy and show that to achieve more cost-effective and progressive public policies, it is necessary to strengthen the transparency and sustainability of energy pricing while having into account the consumer behavioral responses. This volume is a resource for designing energy policies based on an empirical understanding of the household’s energy needs.
Book Synopsis Global Economic Prospects, June 2020 by : World Bank Group
Download or read book Global Economic Prospects, June 2020 written by World Bank Group and published by World Bank Publications. This book was released on 2020-07-07 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has, with alarming speed, dealt a heavy blow to an already-weak global economy, which is expected to slide into its deepest recession since the second world war, despite unprecedented policy support. The global recession would be deeper if countries take longer to bring the pandemic under control, if financial stress triggers defaults, or if there are protracted effects on households and firms. Economic disruptions are likely to be more severe and protracted in emerging market and developing economies with larger domestic outbreaks and weaker medical care systems; greater exposure to international spillovers through trade, tourism, and commodity and financial markets; weaker macroeconomic frameworks; and more pervasive informality and poverty. Beyond the current steep economic contraction, the pandemic is likely to leave lasting scars on the global economy by undermining consumer and investor confidence, human capital, and global value chains. Being mostly a reflection of the recent plunge in global energy demand, low oil prices are unlikely to provide much of a boost to global growth in the near term. While policymakers' immediate priorities are to address the health crisis and moderate the short-term economic losses, the likely long-term consequences of the pandemic highlight the need to forcefully undertake comprehensive reform programs to improve the fundamental drivers of economic growth, once the crisis abates. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.
Book Synopsis Government at a Glance: Latin America and the Caribbean 2020 by : OECD
Download or read book Government at a Glance: Latin America and the Caribbean 2020 written by OECD and published by OECD Publishing. This book was released on 2020-03-18 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This third edition of Government at a Glance Latin America and the Caribbean provides the latest available evidence on public administrations and their performance in the LAC region and compares it to OECD countries. This publication includes indicators on public finances and economics, public employment, centres of government, regulatory governance, open government data, public sector integrity, public procurement and for the first time core government results (e.g. trust, inequality reduction).
Book Synopsis Broadband Policies for Latin America and the Caribbean A Digital Economy Toolkit by : OECD
Download or read book Broadband Policies for Latin America and the Caribbean A Digital Economy Toolkit written by OECD and published by OECD Publishing. This book was released on 2016-06-22 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: This joint initiative by the Inter-American Development Bank (IDB) and the OECD seeks to encourage the expansion of broadband networks and services in the region, supporting a coherent and cross-sectorial approach, to maximise their benefits for economic and social development.
Book Synopsis Open and Nimble by : Daniel Lederman
Download or read book Open and Nimble written by Daniel Lederman and published by World Bank Publications. This book was released on 2017-11-08 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does economic size matter for economic development outcomes? If so are current policies adequately addressing the role of size in the development process? Using working age population as a proxy for country size, Open and Nimble, systematically analyzes what makes small economies unique. Small economies are not necessarily prone to underdevelopment and in fact can achieve very high income levels. Small economies, however, do tend to be highly open to both international trade and foreign direct investment, have highly specialized export structures, and have large government expenditures relative to their Gross Domestic Product. The export structures of small economies are concentrated in a few products or services and in a small number of export destinations. In turn, this export concentration is associated with terms of trade volatility, which combined with high exposure to international trade, implies that small economies tend to face more volatility on average as external volatility permeates national economic life. Yet small economies tend to compensate for their export concentration by being nimble in the sense of being able to change their production and export structure relatively quickly over time. Moreover, limited territory plays a role in shaping how economies are affected by natural disasters, even when the probability of facing such disasters is not necessarily higher among small than among large economies. The combination of large governments with macroeconomic volatility seems to be associated with low national savings rates in small economies. This combination could be a challenge for long-term growth if productivity growth and foreign investment do not compensate for low domestic savings. The book finishes with some thoughts on how policy makers can respond to these issues through coordinated investments and regional integration efforts, as well as fiscal policy reforms aimed at both increasing public savings and conducting countercyclical fiscal policies.
Book Synopsis Global Economic Prospects, January 2018 by : World Bank Group
Download or read book Global Economic Prospects, January 2018 written by World Bank Group and published by World Bank Publications. This book was released on 2018-01-26 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy is in a broad-based cyclical recovery. Investment, manufacturing and trade are on the rebound. Financing conditions are benign, monetary policies are generally accommodative, and the worst impacts of the recent commodity price collapse have begun to dissipate. However, the global economic outlook remains clouded by a number of risks. These include the possibility of financial market disruptions, rising protectionist sentiment, and heightened geopolitical tensions. Of particular concern is evidence of subdued productivity and slowing potential growth. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes a chapter on the causes of the broad-based slowing of potential growth and suggests remedies. The report also contains Special Focus sections on the impact of the 2014-2016 oil price collapse and the relationship between education demographics and global inequality. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.
