Food and Fuel Prices - Recent Developments, Macroeconomic Impact, and Policy Responses PDF Download

Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1498334474
Category : Business & Economics
Languages : en
Pages : 59

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Book Description
This report provides a first broad assessment of the impact of the surge in food and fuel prices on the balance of payments, budgets, prices, and poverty of a large sample of countries. It reviews countries’ macroeconomic policy responses to date and also discusses Fund advice for managing the price increases. Policies should (i) ensure that food and finance reaches the most affected countries as quickly as possible, (ii) include targeted and scaled-up social measures, and (iii) avoid high costs in terms of macroeconomic instability or loss in future agricultural production. Collaborating with international partners, the Fund also stands ready to provide balance of payments assistance. As the paper presents an initial assessment of a still-evolving situation, the somewhat tentative nature of the analysis should be borne in mind.

Author: International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
ISBN: 149833413X
Category : Business & Economics
Languages : en
Pages : 21

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Book Description
This report updates the macroeconomic assessment of the impact of global food and fuel price increases provided in the IMF June 2008 Board paper: Food and Fuel Prices—Recent Developments, Macroeconomic Impact, and Policy Response. Food and oil prices peaked in early summer—in particular, oil prices surged to levels envisaged under the most adverse scenario presented in the June paper. Against this background, the effects of higher prices on the balance of payments, budgets, and domestic prices intensified and a large group of low- and middle-income countries is experiencing a substantial weakening of their balance of payments and higher inflation. These findings reinforce the importance of adopting appropriate policies to maintain macroeconomic stability while protecting the poor.

Author: Mr. Kangni R Kpodar
Publisher: International Monetary Fund
ISBN: 1616356154
Category : Business & Economics
Languages : en
Pages : 34

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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.

Author: Mr.Aasim M. Husain
Publisher: International Monetary Fund
ISBN: 151357227X
Category : Business & Economics
Languages : en
Pages : 41

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Book Description
The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.

Author: M. B. Ndulo
Publisher: CABI
ISBN: 9781845939144
Category : Electronic books
Languages : en
Pages : 285

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Book Description
Dramatic increases in food prices, as witnessed on a global scale in recent years, threaten the food security of hundreds of millions of the rural poor in Sub-Saharan Africa alone. This book focuses on recent food and financial crises as they have affected Africa, illustrating the problems using country case studies, that cover their origins, effects on agriculture and rural poverty, their underlying factors and making recommendations as to how such crises could best be addressed in the future.

Author: Jesper Stage
Publisher: IIED
ISBN: 1843697386
Category : Food prices
Languages : en
Pages : 54

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Book Description
The recent spike in food prices has led to a renewal of interest in agricultural issues and in the long-term drivers of food prices. Urbanization has been mentioned as one possible cause of higher food prices. In this paper we examine some of the links through which urbanization is considered to be contributing to higher food prices and conclude that in most cases urbanization is being conflated with other long-term processes, such as economic growth, population growth and environmental degradation, which can more fruitfully be seen as related but separate processes. We discuss long- and-short term factors affecting food prices, and conclude that the one important way in which urbanization in poor countries may affect food prices, at least potentially, is that it increases the number of households who depend on commercial food supplies, rather than own production, as their main source and hence are likely to hoard food if they fear future price increases. The best policy option for managing this is larger food reserves. Attempts to curb urbanization, on the other hand, would be ill advised.

Author: Mr.Luis Ignacio Jácome
Publisher: International Monetary Fund
ISBN: 1451871481
Category : Business & Economics
Languages : en
Pages : 80

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Book Description
This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of countries covering all regions and a broad range of monetary and exchange rate policy regimes; discusses the underlying causes of inflation; provides a synthesis of policy responses taken against the background of the conflicting objectives and trade-offs, the uncertainties regarding the nature of the shocks, and the additional challenges brought on by the global financial turmoil; and presents considerations for policy.

Author: Hari Bansha Dulal
Publisher: Rowman & Littlefield
ISBN: 0739168010
Category : Business & Economics
Languages : en
Pages : 429

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Book Description
Poverty reduction challenges in the twenty-first century are not the same as those from the previous century. The shift is due in no small part to climate change and climate-related weather disasters, such as extreme flood and drought. The magnitude and frequency of such events are only expected to increase in the coming decades, affecting more and more impoverished people across the globe. Poverty Reduction in a Changing Climate, edited by Hari Bansha Dulal, is a work which discusses the new innovations and funding mechanisms which have emerged in response to the rise of climate-related challenges in the twenty-first century. Dulal and the text's contributors explore the synergies and implications of those innovations with respect to poverty alleviation goals. This collection brings together a range of scholars from different backgrounds, ranging from political science, economics, public policy, and environmental science, all analyzing poverty reduction challenges and opportunities from different, forward-thinking perspectives.

Author: Per Pinstrup-Andersen
Publisher: Oxford University Press (UK)
ISBN: 0198718578
Category : Business & Economics
Languages : en
Pages : 545

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Book Description
Since 2006, global food prices have fluctuated greatly around an increasing trend and price spikes were observed for key food commodities such as rice, wheat, and maize.

Author: Brian Gardner
Publisher: A&C Black
ISBN: 0857851578
Category : Social Science
Languages : en
Pages : 260

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Book Description
By 2050 the world will be faced with the enormous challenge of feeding 9 billion people despite being affected by climate change, rising energy costs and pressure on food growing land and other major resources. How will the world produce 70% more food by 2050 to feed a projected extra 2.3 billion people? What will be the impact of food shortages and high prices on areas in crisis such as sub-Sahara Africa? Where will future production growth come from? And how do we balance the need for environmental protection with sustainable agricultural production methods? This is the first text to present a scholarly, balanced approach to the contentious area of food production and supply up to 2050 - offering a readable and well-informed account which tackles the global food situation in all its totality, from agricultural production, technological advance, dietary concerns, population changes, income trends, environmental issues, government food and agriculture policy, trade, financial markets, macroeconomics and food security. Highly accessible and written by a specialist author with experience as an agricultural analyst, policy advisor and researcher, Global Food Futures synthesises the key issues in one volume.