Author: Alan H. Gelb
Publisher:
ISBN:
Category : Oil industries
Languages : en
Pages : 62

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Book Description

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: Jan Gottschalk
Publisher: International Monetary Fund
ISBN: 1455200751
Category : Business & Economics
Languages : en
Pages : 38

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Book Description
We use a calibrated multi-sector DSGE model to analyze the likely impact of oil windfalls on the Ghanaian economy, under alternative fiscal and monetary policy responses. We distinguish between the short-run impact, associated with demand-related pressures, and the medium run impact on competitiveness and growth. The impact on inflation and the real exchange rate could be moderate, especially if the fiscal authorities smooth oil-related spending or increase public spending’s import content. However, a policy mix that results in both a fiscal expansion and the simultaneous accumulation of the foreign currency proceeds from oil as international reserves—to offset the real appreciation—would raise demand pressures and crowd-out the private sector. In the medium term, the negative impact on competitiveness—resulting from ”Dutch Disease” effects—could be small, provided public spending increases the stock of productive public capital. These findings highlight the role of different policy responses, and their interaction, for the macroeconomic impact of oil proceeds.

Author: Meghan L. O'Sullivan
Publisher: Simon and Schuster
ISBN: 150110795X
Category : Political Science
Languages : en
Pages : 496

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Book Description
Windfall is the boldest profile of the world’s energy resources since Daniel Yergin’s The Quest, asserting that the new energy abundance—due to oil and gas resources once deemed too expensive—is transforming the geo-political order and is boosting American power. “Riveting and comprehensive...a smart, deeply researched primer on the subject.” —The New York Times Book Review As a new administration focuses on driving American energy production, O’Sullivan’s “refreshing and illuminating” (Foreign Policy) Windfall describes how new energy realities have profoundly affected the world of international relations and security. New technologies led to oversupplied oil markets and an emerging natural gas glut. This did more than drive down prices—it changed the structure of markets and altered the way many countries wield power and influence. America’s new energy prowess has global implications. It transforms politics in Russia, Europe, China, and the Middle East. O’Sullivan considers the landscape, offering insights and presenting consequences for each region’s domestic stability as energy abundance upends traditional partnerships, creating opportunities for cooperation. The advantages of this new abundance are greater than its downside for the US: it strengthens American hard and soft power. This is “a powerful argument for how America should capitalise on the ‘New Energy Abundance’” (The Financial Times) and an explanation of how new energy realities create a strategic environment to America’s advantage.

Author: Alan H. Gelb
Publisher:
ISBN:
Category : Indonesia
Languages : en
Pages : 72

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Book Description

Author: Richard M. Auty
Publisher:
ISBN:
Category : Oil industries
Languages : en
Pages : 46

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Book Description

Author: Mckenzie Funk
Publisher: Penguin
ISBN: 0143126598
Category : Science
Languages : en
Pages : 322

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Book Description
A fascinating investigation into how people around the globe are cashing in on a warming world McKenzie Funk has spent the last six years reporting around the world on how we are preparing for a warmer planet. Funk shows us that the best way to understand the catastrophe of global warming is to see it through the eyes of those who see it most clearly—as a market opportunity. Global warming’s physical impacts can be separated into three broad categories: melt, drought, and deluge. Funk travels to two dozen countries to profile entrepreneurial people who see in each of these forces a potential windfall. The melt is a boon for newly arable, mineral-rich regions of the Arctic, such as Greenland—and for the surprising kings of the manmade snow trade, the Israelis. The process of desalination, vital to Israel’s survival, can produce a snowlike by-product that alpine countries use to prolong their ski season. Drought creates opportunities for private firefighters working for insurance companies in California as well as for fund managers backing south Sudanese warlords who control local farmland. As droughts raise food prices globally, there is no more precious asset. The deluge—the rising seas, surging rivers, and superstorms that will threaten island nations and coastal cities—has been our most distant concern, but after Hurricane Sandy and failure after failure to cut global carbon emissions, it is not so distant. For Dutch architects designing floating cities and American scientists patenting hurricane defenses, the race is on. For low-lying countries like Bangladesh, the coming deluge presents an existential threat. Funk visits the front lines of the melt, the drought, and the deluge to make a human accounting of the booming business of global warming. By letting climate change continue unchecked, we are choosing to adapt to a warming world. Containing the resulting surge will be big business; some will benefit, but much of the planet will suffer. McKenzie Funk has investigated both sides, and what he has found will shock us all. To understand how the world is preparing to warm, Windfall follows the money.

Author: Salman Huseynov
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Book Description
In this paper, we base our policy analyses and simulations on three different specifications of a DSGE model developed for a CIS oil rich country and check the impact of the oil windfalls. The first proposed specification is a classical one with a Taylor rule and the second one is a recently new specification with a money growth rule. Beside two familiar specifications, we propose a new specification which assumes a temporary money market disequilibrium in the short run. This disequilibrium is a result of the fiscal misbalance and (non-primary) pro-deficit policy pursued by the fiscal authority. We show that all three specifications allow the fiscal authority to act as the main actor in propagating and amplifying the effects of the oil price shocks to the rest of the economy. When an oil shock hits the economy, its first round effect operates through oil fund transfers to the budget. The second round effects result from an increase in government consumption and government investment expenditures, which augments public capital affecting total factor productivity (TFP) and production, as well as the aggregate demand. We also find that despite significant differences, all three specifications demonstrate similar response dynamics.

Author: Jonathan Di John
Publisher: Penn State Press
ISBN: 0271076909
Category : Business & Economics
Languages : en
Pages : 215

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Book Description
Since the discovery of abundant oil resources in the 1920s, Venezuela has had an economically privileged position among the nations of Latin America, which has led to its being treated by economic and political analysts as an exceptional case. In her well-known study of Venezuela’s political economy, The Paradox of Plenty (1997), Stanford political scientist Terry Karl argued that this oil wealth induced extraordinary corruption, rent-seeking, and centralized intervention that resulted in restricting productivity and growth. What this and other studies of Venezuela’s economy fail to explain, however, is how such conditions have accompanied both growth and stagnation at different periods of Venezuela’s history and why countries experiencing similar levels of corruption and rent-seeking produce divergent developmental outcomes. By investigating the record of economic development in Venezuela from 1920 to the present, Jonathan Di John shows that the key to explaining why the economy performed much better between 1920 and 1980 than in the post-1980 period is to understand how political strategies interacted with economic strategies—specifically, how politics determined state capacity at any given time and how the stage of development and development strategies affected the nature of political conflicts. In emphasizing the importance of an approach that looks at the political economy, not just at the economy alone, Di John advances the field methodologically while he contributes to a long-needed history of Venezuela’s economic performance in the twentieth century.

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.