Management of Oil Windfalls in Mexico PDF Download

Author: Stephen Everhart
Publisher:
ISBN:
Category : Hedging (Finance)
Languages : en
Pages : 38

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Book Description
Policy options for protecting Mexico's economy from volatility in oil revenues without eliminating the benefits from rising prices include a stablilization fund and hedging strategies on international markets. A stabilization fund and hedging strategies can complement each other, the fund working as the main recipient of revenues, and the hedging strategies managing short-lived movements in prices. This joint strategy would reduce the size of the fund and the probability of its going bankrupt.

Author: Stephen Everhart
Publisher:
ISBN:
Category :
Languages : en
Pages : 33

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Book Description
Policy options for protecting Mexico's economy from volatility in oil revenues without eliminating the benefits from rising prices include a stabilization fund and hedging strategies on international markets. A stabilization fund and hedging strategies can complement each other - the fund working as the main recipient of revenues, and the hedging strategies managing short-lived movements in prices. This joint strategy would reduce the size of the fund and the probability of its going bankrupt.The macroeconomic impact of commodity windfalls has provided fertile ground for research since the 1970s. Particularly affected are developing economies that rely heavily on commodity exports. In the case of oil windfalls, cross-country experience is vast: Indonesia, Kazakhstan, Mexico, Nigeria, the Russian Federation, and Republica Bolivariana de Venezuela have all been buffeted by such windfalls. Everhart and Duval-Hernandez investigate Mexico's experience.They provide an overview of oil's impact on the Mexican economy and of the management of oil rents engineered by the government from the 1970s to date. A third of government revenues come from the hydrocarbon sector - especially oil exports. The reliance of public finances on a single commodity means that shocks threaten the economy's fiscal balance and stability.Policy options for protecting the economy from volatility in oil revenues without eliminating the benefits from rising prices include a stabilization fund and hedging strategies on international markets, which the authors discuss. The stabilization fund smooths consumption and reduces the costs associated with volatile spending. The fund and hedging strategies can complement each other - the fund working as the main recipient of revenues, and the hedging strategies managing short-lived movements in prices. This joint strategy would also reduce the size of the fund and the probability of its going bankrupt.This paper - a joint product of the Mexico Country Management Unit and the Economics Department, International Finance Corporation - is part of a larger effort to foster research on macroeconomic management in developing economies.

Author: Alan H. Gelb
Publisher: Oxford University Press
ISBN: 9780195207743
Category : Business & Economics
Languages : en
Pages : 376

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Book Description
This book assesses the full impact of oil windfalls on six developing producer countries - Algeria, Ecuador, Indonesia, Nigeria, Trinidad and Tobago, and Venezuela. This is the first time that the issue has been systematically analysed and related to economics policies and underlying macroeconomic characteristics. The book adopts a broad approach, blending institutional and political aspects with quantitative analysis which includes the results of sophisticated model simulations. It presents new information on how oil discoveries have been used by producer governments, and analyses of the consequences. Finally it concludes that much of the potential benefit to producers has been dissipated, and explains why producers may actually end up worse off despite revenue gains.

Author: Toby Shelley
Publisher: Zed Books Ltd.
ISBN: 1848137443
Category : Business & Economics
Languages : en
Pages : 211

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Book Description
Access to oil and natural gas, and their prices, are hugely important axes of geo-political strategy and global economic prospects and have been for a century. This book, written by a Financial Times journalist who has long covered the energy sector, provides readers with the essential information they need for understanding the shifting structure of the global oil and gas economy: where the reserves lie, who produces what, trade patterns, consumption trends, prices. The book highlights political and social issues in the global energy sector -- the domestic inequality, civil conflict and widespread poverty that dependence on oil exports inflicts on developing countries and the strategies of wealthy countries (especially the United States) to control oil-rich regions. Energy demand is on a strong upward trend. The reality of the environmental damage caused by fossil fuels cannot be doubted. What are likely to be the human consequences: changing disease vectors, unprecedented flooding, mass migration? And what is to be done both in the wealthy countries where consumerism drives increasing growth in demand and in developing countries aiming to grow their economies faster? Are alternative energy sources a panacea? Or will the much vaunted hydrogen economy still be based on oil, natural gas and coal? Here is a book that addresses what is perhaps the most pervasive and destabilizing of the issues facing humanity.

Author: Todd Moss
Publisher: CGD Books
ISBN: 1933286695
Category : Business & Economics
Languages : en
Pages : 190

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Book Description
Oil to Cash explores one option to help countries with new oil revenue avoid the so-called resource curse: just give the money directly to citizens. A universal, transparent, and regular cash transfer would not only provide a concrete benefit to regular people, but would also create powerful incentives for citizens to hold their government accountable. Oil to Cash details how and where this idea could work and how policymakers can learn from the experiences with cash transfers in places like Mexico, Mongolia, and Alaska.

Author: Mark Gersovitz
Publisher: World Bank Publications
ISBN:
Category : Communicable diseases
Languages : en
Pages : 48

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Book Description
If infectious people can infect other people, who in turn can infect others, and so on--the pure infection externality--government subsidies to affect private behavior should equally favor preventive and curative activities, if people recover to become susceptible again. Otherwise, other subsidy and tax strategies may make more sense.

Author: Stanford University. Department of Operations Research. Systems Optimization Laboratory
Publisher:
ISBN:
Category :
Languages : en
Pages : 36

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Book Description

Author: Jonathan C. Brown
Publisher: Univ of California Press
ISBN: 0520321952
Category : History
Languages : en
Pages : 468

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Book Description
This title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1993.

Author: Silas Sadler Packard
Publisher: World Bank Publications
ISBN: 1018051104
Category : Business & Economics
Languages : en
Pages : 40

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Book Description
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.

Author: Kalman Dubov
Publisher: Kalman Dubov
ISBN:
Category : Antiques & Collectibles
Languages : en
Pages : 404

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Book Description
Mexico's history reaches back 4,000 years, beginning with the Olmecs who lived in the Yucatan Peninsula. That remarkable civilization created those huge stone heads with developments that spearheaded and vitalized every subsequent Mesoamerican civilization that followed. The Olmecs, and the Maya, who succeeded them, created the concept of zero, an incredible development in mathematical computation. This book begins with the Olmecs, tracing successor civilizations to the last Mesoamerican Empire, the Aztecs. I describe Aztec life, ritual, cuisine, and development until, in August 1521, this civilization was conquered by Spanish conquistadors. Much of the Aztecs, their people, and royalty are known today by way of Spanish ethnographers and historians who authored codices writing and describing what they saw even as that civilization was changed. That change was permanent. Aztec ritual and its polytheism were altered by Spanish missionaries and enforced by the Inquisition. From 1521 until 1821, Spanish Colonial authorities imposed forced labor in varying forms. Colonialism was overthrown in 1821, and Mexico now entered a new era. This book describes those changes as well as the challenges the government today faces in addressing many disparities in its policies. Healthcare challenges, with systemic poverty as well as the drug war preoccupies much energy in the government's efforts to address them. Mexico also has a large Jewish population whose history was marked by secrecy and Spanish efforts to eradicate this ancient religion. Today's Zocalo, in the heart of Centro Historico, was the place where Jews were burned to death in public admonition against Jewish practice. Another site for such death was the nearby ex-Convento of San Diego, opposite the Grand Palace de Belles Artes. Today's Jews are thriving, and Mexico-Israel relations are strong. This book would not be complete without describing my visits to the country. In My Visit, I describe the different ports I visited while aboard cruise ships. But many more months in the country were spent in San Miguel de Allende and in Mexico City. I describe these visits, their people, and the many nuances of Mexican life. The Mexican constitution recognizes 69 ethnic languages and speakers who are scattered but who primarily live in its southern states. Many ethnic languages are so diverse, that their dialects are unintelligible to the same language group. Language creates the core bonds of society and such multiplicity provides insight into the huge diversity of identity and of life in Mexico. This book is the 14th in the Journey series and is my first book on the American continent. I hope I have done justice to the vast complexity of this society.