Download or read book Tradeoffs from Hedging Oil Price Risk in Ecuador written by Sudhakar Satyanarayan and published by World Bank Publications. This book was released on 1997 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Tradeoffs from Hedging Oil Price Risk in Ecuador written by Eduardo Somensatto and published by . This book was released on 2016 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The benefits in risk-reduction from hedging Ecuadorian oil, and the opportunity costs of hedging.The oil sector is critical to Ecuador's economy, contributing about 17 percent to the country's GDP. Ecuador began exporting crude oil in 1972 and over the past two and a half decades oil has become the country's most important sector. It is controlled by the government through the public enterprise, PETROECUADOR, which serves as the holding company for all state-owned petroleum operations.Movements in oil prices are of major concern to the government, and forecasts of oil prices are built into the government budget. Ecuador's macroeconomic performance depends on the oil sector's performance; shocks to the sector have economywide repercussions.Satyanarayan and Somensatto investigate methods to reduce risk for the country's oil exports through hedging in futures markets. They find that hedging Ecuadorian oil has significant potential for risk reduction. After simulating ex-ante cross hedges for 1991-96, they find that in each case ex-ante hedging effectively reduces risk. They calculate the tradeoffs between return and risk from hedging and find that for a risk-minimizing short hedger, a 1-percent reduction in risk would cost a reduction in return of 0.65 percent.This paper - a product of the Country Operations Division, Country Department III, Latin America and the Caribbean - is part of a larger effort in the department to provide policy advice to member countries.

Download or read book Unfair Trade written by Jacques Morisset and published by World Bank Publications. This book was released on 1997 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Regional Economic Integration and Agricultural Trade written by Jun'ichi Gotō and published by World Bank Publications. This book was released on 1997 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Adjustments in Transition Economies written by Barbara Fakin and published by World Bank Publications. This book was released on 1997 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Ghost of Financing Gap written by William Easterly and published by World Bank Publications. This book was released on 1997 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Institutions in Transition written by Aymo Brunetti and published by World Bank Publications. This book was released on 1997 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An International Statistical Survey of Government Employment and Wages written by Salvatore Schiavo-Campo and published by World Bank Publications. This book was released on with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Wage and Pension Pressure on the Polish Budget written by Alain de Crombrugghe and published by World Bank Publications. This book was released on 1997 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Are There Synergies Between World Bank Partial Credit Guarantees and Private Lending written by Harry Huizinga and published by World Bank Publications. This book was released on 1999 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: August 1997 One test of the efficacy of World Bank partial credit guarantees is whether they lower the interest rate and lengthen the effective maturity of the part of the credit not covered by the guarantee. Do they? Since 1994, the World Bank has provided partial credit guarantees to private financiers of several large infrastructure projects in developing countries. A major objective of the partial guarantee program is to leverage Bank resources so as to provide developing countries with better private credit terms. A real test of the efficacy of World Bank partial credit guarantees is whether they also lower the interest rate and lengthen the effective maturity of the part of the credit not covered by the World Bank guarantee. On the basis of deals closed so far, Huizinga finds no evidence that guarantees have affected nonguaranteed interest rates favorably, while the duration of the nonguaranteed credits remains relatively short. This paper-a product of the Development Research Group-is part of a larger effort in the group to evaluate the impact of World Bank guarantees.

Download or read book Policy Research Working Papers written by and published by . This book was released on 1991 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Managing Guarantee Programs in Support of Infrastructure Investment written by Michael U. Klein and published by World Bank Publications. This book was released on 1997 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Regional Integration as Diplomacy written by Maurice W. Schiff and published by World Bank Publications. This book was released on 1999 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: August 1997 This paper explores a world in which regional trade agreements help reduce security tensions between neighbors. Regional integration agreements (RIAs) are examples of second best and have an ambiguous impact on welfare, contend Schiff and Winters. They build a model in which RIAs unambiguously raise welfare by correcting for externalities. It assumes that trade between neighboring countries increases trust between them and reduces the likelihood of conflict. The optimum intervention in that case is a subsidy on imports from the neighbor. The authors show that an equivalent solution is for the neighboring countries to tax imports from the rest of the world- is, to form an RIA- with imposing some domestic taxes. In fact, security threats have moved neighboring countries to form RIAs. Examples include the creation of the European Coal and Steel Community (1951) and the European Economic Community (1957) to reduce the threat of war in Europe, as well as various RIAs among developing countries. Schiff and Winters show, among other things, that: * The optimum tariffs on imports from the rest of the world are likely to decline over time. * Deep integration implies lower optimum external tariffs if it is exogenous. * But if deep integration is endogenous, it implies higher optimum external tariffs before it occurs and lower ones thereafter. * Enlargement of a bloc (in terms of symmetric countries) has an ambiguous impact on external tariffs but improves welfare, and some form of domino effect exists in the sense that enlargement increases the incentive for nonmembers to seek accession. Although externalities associated with security matters imply that an RIA may maximize welfare, this model suggests that the RIA is a transitory arrangement in the sense that optimum trade preferences are highest at the time the RIA is formed (when security is low) and tend to decline over time. In other words, the RIA's external trade policy becomes increasingly open over time (as well as following deep integration). This paper-a product of the Development Research Group-is part of a larger research program on regionalism and development (directed by the authors).

Download or read book Cents and Sociability written by Deepa Narayan-Parker and published by World Bank Publications. This book was released on 1997 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Sector Adjustment Lending written by Robert J. Cull and published by World Bank Publications. This book was released on 1997 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The New Bryant Stratton Counting House Book Keeping written by Silas Sadler Packard and published by World Bank Publications. This book was released on 2022-10-27 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Download or read book Poor Areas Or Only Poor People written by Martin Ravallion and published by World Bank Publications. This book was released on 1997 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: