The Distributional Implications of the Impact of Fuel Price Increases on Inflation


Book Description

This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.




Mitigating Vulnerability to High and Volatile Oil Prices


Book Description

This book addresses the need of oil-importing countries to mitigate vulnerability to oil price volatility. It offers financial instruments to manage price risk, complemented by structural measures designed to reduce oil consumption.




Taking Control of Oil


Book Description

This publication provides a comprehensive assessment of recent global oil price trends, the exposure of Pacific developing member countries to oil price increases and its implications for social and economic development in the region. It also offers a number of policy options for managing risks associated with heavy dependence on oil imports and proposes a path for diversifying the energy mix in Pacific developing member countries.




The Routledge Handbook of Energy Security


Book Description

This Handbook examines the subject of energy security: its definition, dimensions, ways to measure and index it, and the complicating factors that are often overlooked. The volume identifies varying definitions and dimensions of energy security, including those that prioritize security of supply and affordability alongside those that emphasize availability, energy efficiency, trade, environmental quality, and social and political stewardship. It also explores the various metrics that can be used to give energy security more coherence, and also to enable it to be measured, including recent attempts to measure energy security progress at the national level, with a special emphasis placed on countries within the Organization of Economic Cooperation and Development (OECD), countries within Asia, and industrialized countries worldwide. This Handbook: • Broadens existing discussions of energy security that center on access to fuels, including "oil security" and "coal security." • Focuses not only on the supply side of energy but also the demand, taking a hard look at energy services and politics along with technologies and infrastructure; • Investigates energy security issues such as energy poverty, equity and access, and development; • Analyzes ways to index and measure energy security progress at the national and international level. This book will be of much interest to students of energy security, energy policy, economics, environmental studies, and IR/Security Studies in general.







Maldives


Book Description

The Maldives has propelled itself to middle-income status despite its geographic constraints and the risks it faces as a small island economy. The economy has been growing in the last 5 years, but development challenges remain formidable. How can the Maldives sustain and improve the pace of its economic growth and reduce poverty and inequality? This report identifies the critical constraints to inclusive growth and discusses policy options to overcome such constraints.




Preparing Outer Islands for Sustainable Energy Development


Book Description

This report shows how Maldives, already taking strides toward energy transition through hybrid renewable mini-grid energy systems to reduce its heavy reliance on imported fossil fuel, slice emissions, and foster sustainable and inclusive growth. It highlights the ongoing success of the ADB-supported Preparing Outer Islands for Sustainable Energy Development (POISED) project which has collaborated with utilities to install hybrid energy generation alongside advanced battery storage and management systems for Maldives’ outer islands. Setting out the social, economic, and environmental benefits of a shift to hybrid systems, the report explains how other climate vulnerable countries could follow suit and adopt similar low-carbon technologies to improve their energy security. The Maldives’ experience is particularly unique, given the vast number of islands covered, underscores the potential for innovation and resilience in addressing global energy challenges.




Energy Economics and Financial Markets


Book Description

Energy issues feature frequently in the economic and financial press. Specific examples of topical energy issues come from around the globe and often concern economics and finance. The importance of energy production, consumption and trade raises fundamental economic issues that impact the global economy and financial markets. This volume presents research on energy economics and financial markets related to the themes of supply and demand, environmental impact and renewables, energy derivatives trading, and finance and energy. The contributions by experts in their fields take a global perspective, as well as presenting cases from various countries and continents.