The Challenges of High Food and Fuel Prices
No hay miniatura disponible
Fecha
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Washington, DC
Resumen
Descripción
The increase in the price of oil and
food carry major adverse poverty and macroeconomic
implications especially for fragile and small states and for
low income households in all developing countries. In terms
of their impact on income distribution, inflation, and
poverty food prices are of greater and more immediate
concern than high fuel prices. However, the impact of the
oil price increase on economic growth is likely to be
negative and the challenge of crafting appropriate policy
responses to the food crisis is made much harder in a
context of rising oil prices and ensuing fiscal and balance
of payments pressures. This paper describes what has
happened to fuel and oil prices over the past two years and
links these developments to the macro-economic international
context. It goes on to describe the consequences of the oil
and food price increase for developing countries and
especially for fragile and small states in the commonwealth.
The paper also discusses policy instruments that may
contribute to ameliorate the impact of the changes. Finally,
it describes how the World Bank can support countries'
efforts in addressing these price shocks.
Palabras clave
ADVERSE IMPACTS, AGRICULTURAL ECONOMICS, AGRICULTURE, BALANCE OF PAYMENTS, BANK LENDING, BANK POLICY, BENCHMARK, CAPITAL INFLOWS, CASH TRANSFERS, CEREALS, COMMODITIES, COMMODITY, COMMODITY PRICE, COMMODITY PRICES, CONSUMERS, CONTINGENCY PLANS, CROSS-BORDER FLOWS, CURRENT ACCOUNT DEFICITS, DEBT, DEBT BURDEN, DEBT FORGIVENESS, DEBT MANAGEMENT, DEBT POLICY, DEBT RELIEF, DELIVERY MECHANISMS, DEVELOPING COUNTRIES, DEVELOPING ECONOMIES, DEVELOPING MARKETS, DEVELOPMENT ASSISTANCE, DEVELOPMENT FINANCE, DEVELOPMENT POLICY, DISBURSEMENTS, DOMESTIC MARKETS, ECONOMETRICS, ECONOMIC DEVELOPMENT, ECONOMIC OUTLOOK, EDIBLE OILS, ENERGY PRICE, ENERGY PRICES, EXCHANGE RATE, EXCHANGE RATES, EXPENDITURE, EXPENDITURES, EXPORT GROWTH, EXPORTERS, EXPORTS, FACTORS OF PRODUCTION, FINANCIAL INSTRUMENTS, FINANCIAL MARKETS, FINANCIAL RISKS, FINANCIAL SUPPORT, FINANCIAL SYSTEMS, FINANCIAL WEAKNESSES, FISCAL CAPACITY, FISCAL DEFICIT, FISCAL POLICY, FOOD AID, FOOD GRAINS, FOOD PRICE, FOOD PRICES, FOOD PRODUCTS, FOOD SUBSIDIES, GDP, GLOBAL DEVELOPMENT FINANCE, GLOBAL ECONOMY, GLOBAL FINANCIAL MARKETS, GOOD GOVERNANCE, GOVERNMENT EXPENDITURE, GOVERNMENT SPENDING, GRAINS, GROUNDNUTS, HUMAN CAPITAL, INCOME, INCOMES, INFLATION, INFLATION EXPECTATIONS, INFLATIONARY EXPECTATIONS, INFLATIONARY PRESSURES, INFRASTRUCTURE FINANCE, INFRASTRUCTURE INVESTMENT, INTEREST RATES, INTERNATIONAL MARKETS, INTERNATIONAL SECURITY, INTERNATIONAL TRADE, LEVEL OF DEBT, LIQUIDITY, LOW-INCOME COUNTRIES, MACROECONOMIC CONTEXT, MACROECONOMIC POLICIES, MAIZE, MIDDLE INCOME COUNTRIES, MIDDLE-INCOME COUNTRIES, MONETARY POLICY, MULTILATERAL TRADE, NEW PRODUCTS, OIL PRICE, OIL PRICES, OUTPUT, OUTSOURCING, POLICY RESPONSE, POLICY RESPONSES, POVERTY ALLEVIATION, PRICE CHANGE, PRICE CHANGES, PRICE INCREASE, PRICE INCREASES, PRICE INDICES, PRICE SETTING, PRICE VOLATILITY, RAPID EXPANSION, RAPID GROWTH, REAL EXCHANGE RATE, REAL EXCHANGE RATES, REDISTRIBUTIVE EFFECTS, REGULATORY CONSTRAINTS, REPAYMENTS, REPAYMENTS OF PRINCIPAL, RESERVES, SAFETY NETS, SOCIAL PROTECTION, SOYBEANS, STOCK MARKETS, STOCKS, SUBSTITUTE, TAX, TAX RATE, TRADE NEGOTIATIONS, TRADE POLICY, TRUST FUND, TRUST FUNDS, VEGETABLE OILS, VOLATILITY, WAGES, WHEAT, WORLD ECONOMY, WORLD TRADE