Some Aspects of Petroleum Product Price Adjustment in the Context of Fund Programs, 1980-1982

International Monetary Fund

No 1987/050, IMF Working Papers from International Monetary Fund

Abstract: This paper reviews adjustment in oil imports and domestic pricing policies affecting petroleum under Fund-supported programs. The adjustment of countries with Fund-supported programs (during 1980–82) following the two oil price shocks is compared with that of the nonprogram countries, to evaluate the impact of the Fund’s decision to emphasize adjustment after 1979–80 as opposed to providing more financing after 1973–74. The relatively stronger adjustment to the second oil price shock, by program countries underpinned by evidence of adoption of important petroleum pricing policies and support measures in a program context, provides evidence that the Fund contributed to the adjustment and energy conservation effort.

Keywords: WP; program country; EFF program; oil-price shock; petroleum product; pricing policy; petroleum product price; oil imports; Oil prices; Oil; Price adjustments; Imports; Exchange rate adjustments; Africa (search for similar items in EconPapers)
Pages: 35
Date: 1987-01-01
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