Energy Subsidy Reform : Lessons and Implications.

By: Clements, Benedict JContributor(s): Coady, David | Fabrizio, Stefania | Fabrizio, Stefania | Shang, Baoping | Villafuerte, Mauricio | Singh, Sukhwinder | Kangur, Alvar | Nozaki, Masahiro | Josz, ChristianMaterial type: TextTextPublisher: Washington : International Monetary Fund, 2013Copyright date: ©2013Description: 1 online resource (197 pages)Content type: text Media type: computer Carrier type: online resourceISBN: 9781484393796Subject(s): Electric utilities -- Government policy | Energy policy -- Case studiesGenre/Form: Electronic books.Additional physical formats: Print version:: Energy Subsidy Reform : Lessons and ImplicationsDDC classification: 383.123670 LOC classification: HD9502 -- .E54 2013ebOnline resources: Click to View
Contents:
Cover -- Contents -- Acknowledgments -- Preface -- 1 Introduction and Background -- 2 Defining and Measuring Energy Subsidies -- 3 Macroeconomic, Environmental, and Social Implications -- 4 Reforming Energy Subsidies: Lessons from Experience -- 5 Case Studies from the Sub-Saharan Africa Region -- 6 Case Studies from Emerging and Developing Asia -- 7 Case Studies from the Middle East and North Africa Region -- 8 Case Studies from the Latin America and Caribbean Region -- 9 Case Studies from Central and Eastern Europe and the Commonwealth of Independent States -- Appendix A. Estimating Pretax and Posttax Global Energy Subsidies -- Appendix B. Assessing the Environmental and Health Impacts of Energy Subsidy Reform -- References -- Contributors -- Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- Q -- R -- S -- T -- U -- V -- W -- Y -- Z -- Figures -- Figure 1.1 International Prices of Oil, Coal, and Natural Gas, 2006-12 (Indexed January 2000=100) -- Figure 2.1 Pretax Energy Subsidies, 2007-11 (Billions of U.S. dollars) -- Figure 2.2 Pretax Energy Subsidies by Region, 2011 -- Figure 2.3 Pretax Petroleum Subsidies among Petroleum Importing and Exporting Countries, 2011 (Percent of GDP) -- Figure 2.4 Adjustment of Energy Subsidies for Taxes and Externalities, 2011 -- Figure 3.1 Posttax Subsidies and Social Spending, 2010 (Percent of GDP) -- Figure 3.2 Distribution of Petroleum Product Subsidies by Income Groups (Percent of total product subsidies) -- Figure 5.1 Ghana: Fuel Price Developments, 2000-2012 -- Figure 5.2 Namibia: National Energy Fund and Slate Account, 1990-2011 (Millions of Namibian dollars) -- Figure 5.3 Namibia: Macroeconomic Developments and Fuel Subsidy Reform, 1990-2011 -- Figure 5.4 Niger: Fuel Price Developments, 2005-11 (Central African francs per liter).
Figure 5.5 Niger: Macroeconomic Developments and Energy Subsidy Reforms, 2008-11 (Percent of GDP or rate) -- Figure 5.6 Nigeria: International and Domestic Fuel Prices, 2006-11 (Difference between world price and domestic price) -- Figure 5.7 South Africa: Composition of Gasoline Pump Prices and Taxes, 2001-12 -- Figure 5.8 Kenya: Hidden Costs in the Power Sector, 2001-8 -- Figure 6.1 Indonesia: Macroeconomic Developments and Energy Subsidy Reforms, 1997- 2011 (Percent of GDP or rate) -- Figure 6.2 Philippines: Macroeconomic Developments and Energy Subsidy Reforms, 1993-2011 (Percent of GDP unless otherwise noted) -- Figure 6.3 Philippines: Macroeconomic Developments and Electricity Subsidy Reforms, 1998-2011 (Percent of GDP or rate) -- Figure 7.1 Mauritania: Diesel Retail Price and Price Gap, 2011-12 (Ouguiyas per liter) -- Figure 7.2 Yemen: Macroeconomic Developments and Energy Subsidy Reforms, 1999-2011 (Percent of GDP or rate) -- Figure 7.3 Yemen: Fuel Prices and International Full Pass- through Prices, 2005-12 (Yemini rials per liter) -- Figure 8.1 Brazil: Macroeconomic Developments and Energy Subsidy Reforms, 1990-2012 (Percent of GDP or rate) -- Figure 8.2 Brazil: Fuel Price Developments, 1995-2011 -- Figure 8.3 Chile: Balance of Fuel Stabilization Funds, 1991-2012 (Percent of GDP) -- Figure 8.4 Peru: International Price and the Fiscal Cost of Fuel Subsidies, 2005-11 -- Figure 8.5 Brazil: Macroeconomic Developments and Electricity Subsidy Reforms, 1990-2012 (Percent of GDP or rate) -- Figure 8.6 Mexico: Macroeconomic Developments and Electricity Subsidy Reforms, 1998-2011 -- Figure 9.1 Turkey: Macroeconomic Developments and Energy Subsidy Reforms, 1990-2011 -- Figure 9.2 Turkey: Gasoline and Diesel Net Tax, 2000-2011 (U.S. dollars per liter) -- Figure 9.3 Armenia: Residential Electricity Tariffs, 1995-2011 (Armenian drams per kWh).
Figure 9.4 Armenia: Electricity Sector Financial Deficit, 1994-2004 (Percent of GDP) -- Figure 9.5 Armenia: Electricity Bill Collection Rate, 1996-2003 (Percent) -- Figure 9.6 Armenia: Macroeconomic Developments and Electricity Subsidy Reforms, 1993-2011 -- Figure 9.7 Turkey: Macroeconomic Developments and Energy Subsidy Reforms, 1990-2010 -- Figure 9.8 Poland: Coal Prices in Poland and Selected International Markets, 1990-2002 (U.S. dollars per ton) -- Figure 9.9 Poland: Macroeconomic Developments and Coal Sector Reforms, 1987-2010 (Percent of GDP or Rate) -- Figure 9.10 Poland: Indicators for the Coal Sector Reform, 1990-2002 -- Boxs -- Box 2.1 Pretax and Posttax Consumer Subsidies -- Box 2.2 Financing Fuel Subsidies in India -- Box 3.1 Electricity Subsidies and Growth in Sub-Saharan Africa -- Box 3.2 Energy Subsidy Reform and Competitiveness -- Box 5.1 Nigeria: Rationale for Subsidy Removal -- Tables -- TABLE 4.1 Summary of Country Energy Subsidy Reform Episodes -- TABLE 5.1 Ghana: Key Macroeconomic Indicators, 2000-2011 -- TABLE 5.2 Namibia: Key Macroeconomic Indicators, 2000-2011 -- TABLE 5.3 Niger: Key Macroeconomic Indicators, 2000-2011 -- TABLE 5.4 Nigeria: Key Macroeconomic Indicators, 2003-11 -- TABLE 5.5 Nigeria: Developments in Fuel Prices and Fuel Subsidies, 2006-12 -- TABLE 5.6 South Africa: Key Macroeconomic Indicators, 1993-2011 -- TABLE 5.7 Kenya: Key Macroeconomic Indicators, 1995-2009 -- TABLE 5.8 Kenya: Key Power Sector Indicators, 1995-2009 -- TABLE 5.9 Uganda: Key Macroeconomic and Power Sector Indicators, 2005-10 -- TABLE 5.10 Uganda: Explicit Fiscal Subsidies for the Power Sector and the Cost of Thermal Generation, 2006-11 -- TABLE 5.11 Uganda: Quasi-Fiscal Deficit of the Power Sector, 2005-8 and 2009-11 -- TABLE 6.1 Indonesia: Key Macroeconomic Indicators, 2000-2011.
TABLE 6.2 Philippines: Key Macroeconomic Indicators, 2000-2011 -- TABLE 7.1 Iran: Key Macroeconomic Indicators, 2005-11 -- TABLE 7.2 Mauritania: Key Macroeconomic Indicators, 2000-2010 -- TABLE 7.3 Yemen: Key Macroeconomic Indicators, 2000-2011 -- TABLE 8.1 Brazil: Key Macroeconomic Indicators, 2000-2011 -- TABLE 8.2 Chile: Key Macroeconomic Indicators, 2000-2011 -- TABLE 8.3 Peru: Key Macroeconomic Indicators, 2000-2011 -- TABLE 8.4 Peru: Spending of the Oil Price Stabilization Fund by Type of Product, 2011 -- TABLE 8.5 Mexico: Key Macroeconomic Indicators, 2000-2011 -- TABLE 9.1 Turkey: Key Macroeconomic Indicators, 2000-2011 -- TABLE 9.2 Armenia: Key Macroeconomic Indicators, 2000-2011 -- TABLE 9.3 Armenia: Electricity Share in Total House hold Spending (Percent) -- TABLE 9.4 Poland: Key Macroeconomic Indicators, 1990-2011 -- TABLE 9.5 Poland: Selected Indicators of Coal Mining Industry, 1990-2006 -- TABLE A.1 Corrective Motor Fuel Taxes, Selected Countries (Cents per liter, 2011 dollars) -- TABLE A.2 Pretax Subsidies in Percent of GDP for Petroleum Products, Electricity, Natural Gas, and Coal, 2011 -- TABLE A.3 Pretax Subsidies in Percent of Government Revenues for Petroleum Products, Electricity, Natural Gas, and Coal, 2011 -- TABLE A.4 Posttax Subsidies as Percent of GDP for Petroleum Products, Electricity, Natural Gas, and Coal, 2011 -- TABLE A.5 Posttax Subsidies in Percent of Government Revenues for Petroleum Products, Electricity, Natural Gas, and Coal, 2011.
Summary: Energy subsidies have wide-ranging economic consequences. Although they are aimed at protecting consumers, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. Subsidies also distort resource allocation by encouraging excessive energy consumption, artificially promoting capital-intensive industries, reducing incentives for investment in renewable energy, and accelerating the depletion of natural resources. Most subsidy benefits are captured by higher-income households, reinforcing inequality. Even future generations are affected through the damaging effects of increased energy consumption on global warming. This book provides (1) the most comprehensive estimates of energy subsidies currently available for 176 countries and (2) an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.
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Cover -- Contents -- Acknowledgments -- Preface -- 1 Introduction and Background -- 2 Defining and Measuring Energy Subsidies -- 3 Macroeconomic, Environmental, and Social Implications -- 4 Reforming Energy Subsidies: Lessons from Experience -- 5 Case Studies from the Sub-Saharan Africa Region -- 6 Case Studies from Emerging and Developing Asia -- 7 Case Studies from the Middle East and North Africa Region -- 8 Case Studies from the Latin America and Caribbean Region -- 9 Case Studies from Central and Eastern Europe and the Commonwealth of Independent States -- Appendix A. Estimating Pretax and Posttax Global Energy Subsidies -- Appendix B. Assessing the Environmental and Health Impacts of Energy Subsidy Reform -- References -- Contributors -- Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- Q -- R -- S -- T -- U -- V -- W -- Y -- Z -- Figures -- Figure 1.1 International Prices of Oil, Coal, and Natural Gas, 2006-12 (Indexed January 2000=100) -- Figure 2.1 Pretax Energy Subsidies, 2007-11 (Billions of U.S. dollars) -- Figure 2.2 Pretax Energy Subsidies by Region, 2011 -- Figure 2.3 Pretax Petroleum Subsidies among Petroleum Importing and Exporting Countries, 2011 (Percent of GDP) -- Figure 2.4 Adjustment of Energy Subsidies for Taxes and Externalities, 2011 -- Figure 3.1 Posttax Subsidies and Social Spending, 2010 (Percent of GDP) -- Figure 3.2 Distribution of Petroleum Product Subsidies by Income Groups (Percent of total product subsidies) -- Figure 5.1 Ghana: Fuel Price Developments, 2000-2012 -- Figure 5.2 Namibia: National Energy Fund and Slate Account, 1990-2011 (Millions of Namibian dollars) -- Figure 5.3 Namibia: Macroeconomic Developments and Fuel Subsidy Reform, 1990-2011 -- Figure 5.4 Niger: Fuel Price Developments, 2005-11 (Central African francs per liter).

Figure 5.5 Niger: Macroeconomic Developments and Energy Subsidy Reforms, 2008-11 (Percent of GDP or rate) -- Figure 5.6 Nigeria: International and Domestic Fuel Prices, 2006-11 (Difference between world price and domestic price) -- Figure 5.7 South Africa: Composition of Gasoline Pump Prices and Taxes, 2001-12 -- Figure 5.8 Kenya: Hidden Costs in the Power Sector, 2001-8 -- Figure 6.1 Indonesia: Macroeconomic Developments and Energy Subsidy Reforms, 1997- 2011 (Percent of GDP or rate) -- Figure 6.2 Philippines: Macroeconomic Developments and Energy Subsidy Reforms, 1993-2011 (Percent of GDP unless otherwise noted) -- Figure 6.3 Philippines: Macroeconomic Developments and Electricity Subsidy Reforms, 1998-2011 (Percent of GDP or rate) -- Figure 7.1 Mauritania: Diesel Retail Price and Price Gap, 2011-12 (Ouguiyas per liter) -- Figure 7.2 Yemen: Macroeconomic Developments and Energy Subsidy Reforms, 1999-2011 (Percent of GDP or rate) -- Figure 7.3 Yemen: Fuel Prices and International Full Pass- through Prices, 2005-12 (Yemini rials per liter) -- Figure 8.1 Brazil: Macroeconomic Developments and Energy Subsidy Reforms, 1990-2012 (Percent of GDP or rate) -- Figure 8.2 Brazil: Fuel Price Developments, 1995-2011 -- Figure 8.3 Chile: Balance of Fuel Stabilization Funds, 1991-2012 (Percent of GDP) -- Figure 8.4 Peru: International Price and the Fiscal Cost of Fuel Subsidies, 2005-11 -- Figure 8.5 Brazil: Macroeconomic Developments and Electricity Subsidy Reforms, 1990-2012 (Percent of GDP or rate) -- Figure 8.6 Mexico: Macroeconomic Developments and Electricity Subsidy Reforms, 1998-2011 -- Figure 9.1 Turkey: Macroeconomic Developments and Energy Subsidy Reforms, 1990-2011 -- Figure 9.2 Turkey: Gasoline and Diesel Net Tax, 2000-2011 (U.S. dollars per liter) -- Figure 9.3 Armenia: Residential Electricity Tariffs, 1995-2011 (Armenian drams per kWh).

Figure 9.4 Armenia: Electricity Sector Financial Deficit, 1994-2004 (Percent of GDP) -- Figure 9.5 Armenia: Electricity Bill Collection Rate, 1996-2003 (Percent) -- Figure 9.6 Armenia: Macroeconomic Developments and Electricity Subsidy Reforms, 1993-2011 -- Figure 9.7 Turkey: Macroeconomic Developments and Energy Subsidy Reforms, 1990-2010 -- Figure 9.8 Poland: Coal Prices in Poland and Selected International Markets, 1990-2002 (U.S. dollars per ton) -- Figure 9.9 Poland: Macroeconomic Developments and Coal Sector Reforms, 1987-2010 (Percent of GDP or Rate) -- Figure 9.10 Poland: Indicators for the Coal Sector Reform, 1990-2002 -- Boxs -- Box 2.1 Pretax and Posttax Consumer Subsidies -- Box 2.2 Financing Fuel Subsidies in India -- Box 3.1 Electricity Subsidies and Growth in Sub-Saharan Africa -- Box 3.2 Energy Subsidy Reform and Competitiveness -- Box 5.1 Nigeria: Rationale for Subsidy Removal -- Tables -- TABLE 4.1 Summary of Country Energy Subsidy Reform Episodes -- TABLE 5.1 Ghana: Key Macroeconomic Indicators, 2000-2011 -- TABLE 5.2 Namibia: Key Macroeconomic Indicators, 2000-2011 -- TABLE 5.3 Niger: Key Macroeconomic Indicators, 2000-2011 -- TABLE 5.4 Nigeria: Key Macroeconomic Indicators, 2003-11 -- TABLE 5.5 Nigeria: Developments in Fuel Prices and Fuel Subsidies, 2006-12 -- TABLE 5.6 South Africa: Key Macroeconomic Indicators, 1993-2011 -- TABLE 5.7 Kenya: Key Macroeconomic Indicators, 1995-2009 -- TABLE 5.8 Kenya: Key Power Sector Indicators, 1995-2009 -- TABLE 5.9 Uganda: Key Macroeconomic and Power Sector Indicators, 2005-10 -- TABLE 5.10 Uganda: Explicit Fiscal Subsidies for the Power Sector and the Cost of Thermal Generation, 2006-11 -- TABLE 5.11 Uganda: Quasi-Fiscal Deficit of the Power Sector, 2005-8 and 2009-11 -- TABLE 6.1 Indonesia: Key Macroeconomic Indicators, 2000-2011.

TABLE 6.2 Philippines: Key Macroeconomic Indicators, 2000-2011 -- TABLE 7.1 Iran: Key Macroeconomic Indicators, 2005-11 -- TABLE 7.2 Mauritania: Key Macroeconomic Indicators, 2000-2010 -- TABLE 7.3 Yemen: Key Macroeconomic Indicators, 2000-2011 -- TABLE 8.1 Brazil: Key Macroeconomic Indicators, 2000-2011 -- TABLE 8.2 Chile: Key Macroeconomic Indicators, 2000-2011 -- TABLE 8.3 Peru: Key Macroeconomic Indicators, 2000-2011 -- TABLE 8.4 Peru: Spending of the Oil Price Stabilization Fund by Type of Product, 2011 -- TABLE 8.5 Mexico: Key Macroeconomic Indicators, 2000-2011 -- TABLE 9.1 Turkey: Key Macroeconomic Indicators, 2000-2011 -- TABLE 9.2 Armenia: Key Macroeconomic Indicators, 2000-2011 -- TABLE 9.3 Armenia: Electricity Share in Total House hold Spending (Percent) -- TABLE 9.4 Poland: Key Macroeconomic Indicators, 1990-2011 -- TABLE 9.5 Poland: Selected Indicators of Coal Mining Industry, 1990-2006 -- TABLE A.1 Corrective Motor Fuel Taxes, Selected Countries (Cents per liter, 2011 dollars) -- TABLE A.2 Pretax Subsidies in Percent of GDP for Petroleum Products, Electricity, Natural Gas, and Coal, 2011 -- TABLE A.3 Pretax Subsidies in Percent of Government Revenues for Petroleum Products, Electricity, Natural Gas, and Coal, 2011 -- TABLE A.4 Posttax Subsidies as Percent of GDP for Petroleum Products, Electricity, Natural Gas, and Coal, 2011 -- TABLE A.5 Posttax Subsidies in Percent of Government Revenues for Petroleum Products, Electricity, Natural Gas, and Coal, 2011.

Energy subsidies have wide-ranging economic consequences. Although they are aimed at protecting consumers, subsidies aggravate fiscal imbalances, crowd out priority public spending, and depress private investment, including in the energy sector. Subsidies also distort resource allocation by encouraging excessive energy consumption, artificially promoting capital-intensive industries, reducing incentives for investment in renewable energy, and accelerating the depletion of natural resources. Most subsidy benefits are captured by higher-income households, reinforcing inequality. Even future generations are affected through the damaging effects of increased energy consumption on global warming. This book provides (1) the most comprehensive estimates of energy subsidies currently available for 176 countries and (2) an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by the IMF staff and analyses carried out by other institutions.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2018. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

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