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

By: International Monetary Fund.
Material type: materialTypeLabelBookSeries: IMF Working Papers; Working Paper: No. 87/50Publisher: Washington, D.C. : International Monetary Fund, 1987Description: 1 online resource (35 p.).ISBN: 1451970919 :.ISSN: 1018-5941.Subject(s): Oil Developing Countries | Oil Importers | Oil Imports | Oil Prices | Petroleum Products | Botswana | Congo, Democratic Republic of the | Equatorial Guinea | Guinea | Sri LankaAdditional physical formats: Print Version:: Some Aspects of Petroleum Product Price Adjustment in the Context of Fund Programs, 1980-1982Online resources: IMF e-Library | IMF Book Store 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.
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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.

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