Download or read book The Effects of Energy Price Shocks on Growth and Macroeconomic Stability in Selected Energy Importing CIS Countries written by Tatiana Lysenko and published by . This book was released on 2007 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: After several years of low and stable prices for its gas exports to CIS countries, Russia has decided to review these arrangements and to significantly increase prices, bringing them closer to the levels applied to the EU. The steep increase in energy prices has significant economic implications for the importing countries. So far, the economic analysis has tended to adopt a country-specific focus. We adopt a crosscountry perspective instead, comparing the macroeconomic effects of the energy-price shock on growth, macroeconomic stability, budget and balance of payments. The analysis shows that the expected negative effects associated with the gas price shock have not led to a GDP loss in any of the countries studied, mainly due to a combination of counterbalancing factors. However, some of these developments may raise concerns for the future. In particular the steep increase in private and quasi-private external debt observed over 2006 in most countries increases their vulnerability to future exogenous shocks, including further raises in energy prices.
Download or read book European Neighbourhood Policy written by and published by . This book was released on 2007 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the third issue of the Economic Review of EU Neighbour Countries. The European neighbourhood runs from Morocco in North Africa, through the Middle East, to Russia – including those countries that directly border, or closely border the European Union, and whose growth and welfare is of particular importance to Europe for economic and political reasons. This year the review includes a special focus on a topical issue: the macroeconomic effects of energy price shocks in resource poor CIS countries (written in collaboration with the EBRD). After several years of below market prices for its gas exports to the CIS, Russia has decided to review these arrangements and to significantly increase prices, bringing them closer to the levels applied to the EU. Starting in early 2006 with Ukraine, the renegotiation of gas prices has since then affected also Armenia, Belarus, Georgia and Moldova. This chapter compares the macroeconomic effects of the energy-price shock on growth, macroeconomic stability, budget and balance of payments in these energy-importing countries. In addition to country-specific chapters, this review includes also two overviews of the recent economic developments in the Mediterranean and the EU Eastern neighbourhood regions. These chapters are structured along the main areas of reform: macroeconomic developments, trade liberalisation and economic opening, business climate, public institutions and public finance management, and social development and poverty.
Download or read book The Economic Aspects of the Energy Sector in CIS Countries written by CASE (Organization : Warsaw, Poland) and published by . This book was released on 2008 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. Introduction - 2. Literature survey - 3. Energy sector and its macroeconomic importance in CIS - 4. Key macroeconomic issues related to energy sector functioning - 5. CIS role for the EU energy supply - 6. Strategies and policy options for the energy sector development in the CIS region.
Download or read book A Different Country written by Lúcio Vinhas de Souza and published by CEPS. This book was released on 2008 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia is now once again one of the ten largest economies in the world (representing around 70% of Germany's GDP in purchasing power parity in 2007). In addition, Russia is the third largest trading partner of the EU, the fourth largest trade partner of the eurozone and an essential energy supplier to the EU. This recovery makes Russia an economic - and political - actor that cannot be ignored. In this authoritative new book, Lúcio Vinhas de Souza, desk officer for Russia in the Directorate-General for Economic and Financial Affairs of the European Commission, reviews the country's evolving macroeconomic performance and structural policy framework, from the difficult days of the recession in the early transition period and the 1998 crisis to Russia's sustained and robust growth since 1999. He outlines the remaining reform priorities in Russia and concludes with pragmatic policy recommendations for the reform agenda.
Download or read book Country Study written by and published by . This book was released on 2007 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. Introduction - 2. Germany's growth performance since reunification - 3. Utilising the employment potential - 4. Removing impediments to capital formation - 5. Accelerating technological progress - 6. Scenarios for potential growth.
Download or read book OECD Economic Surveys Ukraine 2007 written by OECD and published by OECD Publishing. This book was released on 2007-09-04 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first OECD Economic Survey for the Ukraine reviews recent economic developments and points out key economic challenges that Ukraine faces in the medium-term, including reducing barriers to economic growth though institutional and regulatory ...
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.
Download or read book Economic Papers written by and published by . This book was released on 1981 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book OECD Economic Surveys written by and published by . This book was released on 2007 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Energy Subsidy Reform written by Mr.Benedict J. Clements and published by International Monetary Fund. This book was released on 2013-09-13 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: Energy subsidies are aimed at protecting consumers, however, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. This book provides the most comprehensive estimates of energy subsidies currently available for 176 countries and an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.
Download or read book OECD Economic Surveys Ukraine 2007 written by OECD and published by OECD Publishing. This book was released on 2007-09-12 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: OECD's assessment of Ukraine's economy examines recent economic developments and outlines the main policy challenges.
Download or read book Transition Report written by and published by . This book was released on 2008 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Transition Report 2007 written by European Bank for Reconstruction and Development and published by . This book was released on 2007 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text presents an assessment of economic development in central-eastern Europe and the Baltic states (CEB), south-eastern Europe (SEE) and the Commonwealth of Independent States (CIS). It examines progress made in the transition from central planning to market economies by looking at macroeconomic performance.
Download or read book World Economic Outlook October 2013 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2013-10-08 with total page 657 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global growth is in low gear, and the drivers of activity are changing. These dynamics raise new policy challenges. Advanced economies are growing again but must continue financial sector repair, pursue fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing growth and tighter global financial conditions. This issue of the World Economic Outlook examines the potential spillovers from these transitions and the appropriate policy responses. Chapter 3 explores how output comovements are influenced by policy and financial shocks, growth surprises, and other linkages. Chapter 4 assesses why certain emerging market economies were able to avoid the classical boom-and-bust cycle in the face of volatile capital flows during the global financial crisis.
Download or read book European Economy News written by and published by . This book was released on 2006 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book World Economic Outlook May 2001 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2000-09-19 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.
Download or read book Inflation in Emerging and Developing Economies written by Jongrim Ha and published by World Bank Publications. This book was released on 2019-02-24 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
