Government Response to Oil Price Volatility : Experience of 49 Developing Countries

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dc.creatorKojima, Masami
dc.date2014-05-09T20:23:22Z
dc.date2014-05-09T20:23:22Z
dc.date2009-07
dc.date.accessioned2026-07-01T00:45:53Z
dc.descriptionOil prices rose from 2004 to historic highs in mid-2008, only to fall precipitously in the last four months of 2008 and lose all the gains of the preceding four and a half years. The steep price increase from January 2007 to July 2008 was challenging for all economies. While the sharp drop in prices since August 2008 has been welcome news for consumers, the cause of it, the global financial crisis, is not. Moreover, currency depreciation against the dollar in many developing countries has meant that, in local currency units, petroleum product prices have not fallen as sharply as in U.S. dollars. This report examines the policy responses of 49 developing country governments to world oil price movements in the last three years. The sample includes 16 countries in Sub-Saharan Africa, 15 in Asia, 10 in Latin America, and 8 in the Middle East and North Africa. The report updates a companion 2006 publication on coping with higher oil prices and builds upon two other publications: one on oil price volatility and another on the degree of pass-through of world oil price increases between January 2004 and August 2009. As with all other publications in this series, this report examines issues related to oil price levels and volatility in the downstream petroleum sector and other sectors where oil is an important input, such as transport, fisheries, and agriculture, from the point of view of consumers. It does not consider macro-level policies (such as monetary or exchange rate policy) or the impact of oil price changes on the macroeconomic performance of countries, nor does it discuss management of the windfall income by large oil exporters and the long-term economic consequences of revenue management.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2009/07/11215307/government-response-oil-price-volatility-experience-49-developing-countries
dc.identifierhttps://hdl.handle.net/10986/18234
dc.identifierhttps://doi.org/10.1596/18234
dc.identifier.urihttp://hdl.handle.net/123456789/410620
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationExtractive industries and development series;no. 10
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO CAPITAL
dc.subjectACQUISITION
dc.subjectACQUISITIONS
dc.subjectADVANCED ECONOMIES
dc.subjectAFFILIATED ORGANIZATIONS
dc.subjectALUMINUM
dc.subjectBALANCE SHEETS
dc.subjectBANK BORROWING
dc.subjectBANKING SYSTEMS
dc.subjectBANKS
dc.subjectBASE METALS
dc.subjectBAUXITE
dc.subjectBOND
dc.subjectBOND ISSUES
dc.subjectBOND MARKET
dc.subjectBORROWING COSTS
dc.subjectBUSINESS OPPORTUNITY
dc.subjectBUSINESS PERFORMANCE
dc.subjectCADASTRE
dc.subjectCAPITAL MARKETS
dc.subjectCASH FLOWS
dc.subjectCASM
dc.subjectCHIEF EXECUTIVE
dc.subjectCOAL
dc.subjectCOBALT
dc.subjectCOLLATERAL
dc.subjectCOMMERCIAL ENTERPRISES
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCONSOLIDATION
dc.subjectCOOPERATION AGREEMENT
dc.subjectCOOPERATION AGREEMENTS
dc.subjectCOPPER
dc.subjectCOPPER MINES
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORPORATION
dc.subjectCORPORATIONS
dc.subjectCREDIT RATING
dc.subjectCURRENCY
dc.subjectDEPOSIT
dc.subjectDEPOSITARY RECEIPTS
dc.subjectDEPOSITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPING COUNTRY ECONOMIES
dc.subjectDEVELOPMENT BANK
dc.subjectDIAMONDS
dc.subjectDIRECT INVESTMENT
dc.subjectDOMESTIC MARKETS
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectEITI
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING ECONOMY
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET COMPANIES
dc.subjectEMERGING MARKETS
dc.subjectEQUITY INVESTORS
dc.subjectEQUITY MARKETS
dc.subjectEXPLORATION EXPENDITURE
dc.subjectEXPOSURE
dc.subjectEXTRACTIVE INDUSTRIES
dc.subjectEXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE
dc.subjectFINANCE CORPORATION
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL WEAKNESS
dc.subjectFOREIGN INVESTORS
dc.subjectFOREIGN MINING
dc.subjectFULL DISCLOSURE
dc.subjectGAS
dc.subjectGAS FLARING REDUCTION
dc.subjectGEOGRAPHIC DIVERSIFICATION
dc.subjectGEOLOGICAL KNOWLEDGE
dc.subjectGEOLOGICAL SURVEY
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL INVESTOR
dc.subjectGLOBALIZATION
dc.subjectGOLD
dc.subjectGOLD MINE
dc.subjectGOOD GOVERNANCE
dc.subjectGOVERNANCE PRACTICES
dc.subjectGOVERNMENT POLICIES
dc.subjectHOLDING
dc.subjectHOST COUNTRIES
dc.subjectINDEPENDENT DIRECTORS
dc.subjectINFRASTRUCTURE DEVELOPMENT
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINTERESTED PARTIES
dc.subjectINTERESTS OF MINORITY SHAREHOLDERS
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL FINANCE
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINVESTMENT ANALYSIS
dc.subjectINVESTMENT CORPORATION
dc.subjectINVESTMENT FLOWS
dc.subjectINVESTMENT PROGRAM
dc.subjectIRON
dc.subjectIRON ORE
dc.subjectJOINT VENTURE
dc.subjectLARGE COMPANIES
dc.subjectLARGE MINING
dc.subjectLARGE SHAREHOLDERS
dc.subjectLEGAL AUTHORITY
dc.subjectLIBERALIZATION
dc.subjectLIBERALIZATIONS
dc.subjectLOCAL COMPANIES
dc.subjectMARKET CAPITALIZATION
dc.subjectMARKET DOWNTURN
dc.subjectMARKET ENVIRONMENT
dc.subjectMARKET SHARES
dc.subjectMETALS
dc.subjectMINERAL CONCESSIONS
dc.subjectMINERAL PRODUCTION
dc.subjectMINERAL RESERVES
dc.subjectMINERAL RESOURCES
dc.subjectMINERAL RIGHTS
dc.subjectMINERALOGY
dc.subjectMINERALS
dc.subjectMINERALS INDUSTRY
dc.subjectMINING ASSETS
dc.subjectMINING COMPANIES
dc.subjectMINING COMPANY
dc.subjectMINING INDUSTRY
dc.subjectMINING INTERESTS
dc.subjectMINING INVESTMENT
dc.subjectMINING OPERATIONS
dc.subjectMINING POLICY
dc.subjectMINING PROJECT
dc.subjectMINING SECTOR
dc.subjectMOLYBDENUM
dc.subjectNATIONAL SECURITY
dc.subjectNATURAL RESOURCES
dc.subjectNICKEL
dc.subjectNONFERROUS METAL MINING
dc.subjectOGMC
dc.subjectOIL
dc.subjectOIL COMPANIES
dc.subjectOIL PRICE
dc.subjectORES
dc.subjectOUTPUT
dc.subjectPALLADIUM
dc.subjectPERSONAL FINANCES
dc.subjectPLATINUM
dc.subjectPORTFOLIO
dc.subjectPOTASH
dc.subjectPOVERTY ALLEVIATION
dc.subjectPRINCIPAL ASSETS
dc.subjectPRINCIPAL SHAREHOLDERS
dc.subjectPRIVATE ENTERPRISE
dc.subjectPRIVATE ENTERPRISES
dc.subjectPRIVATE PARTNERSHIP
dc.subjectPRIVATE SECTOR GROWTH
dc.subjectPRIVATIZATION
dc.subjectPRIVATIZATIONS
dc.subjectPROFITABILITY
dc.subjectPUBLIC-PRIVATE PARTNERSHIP
dc.subjectREGULATORY ENVIRONMENT
dc.subjectREGULATORY REGIME
dc.subjectREORGANIZATION
dc.subjectRETURN
dc.subjectRISK CAPITAL
dc.subjectRISK PROFILE
dc.subjectRISK PROFILES
dc.subjectSAVINGS
dc.subjectSHARE PRICE
dc.subjectSHAREHOLDER
dc.subjectSHAREHOLDER AGREEMENT
dc.subjectSHAREHOLDERS
dc.subjectSHAREHOLDING
dc.subjectSILVER
dc.subjectSMALL-SCALE
dc.subjectSMALL-SCALE MINERS
dc.subjectSMALL-SCALE MINING
dc.subjectSMALLER COMPANIES
dc.subjectSOCIAL RESPONSIBILITIES
dc.subjectSOCIAL SAFEGUARDS
dc.subjectSOCIETY
dc.subjectSPECULATION
dc.subjectSTATE BANKS
dc.subjectSTATE-OWNED COMPANIES
dc.subjectSTEEL
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKETS
dc.subjectSTOCKS
dc.subjectSUBSIDIARY
dc.subjectSUSTAINABLE DEVELOPMENT
dc.subjectTAKEOVER
dc.subjectTAKEOVER BID
dc.subjectTAX
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTITANIUM
dc.subjectTRACK RECORDS
dc.subjectTRADING
dc.subjectTRADING SYSTEM
dc.subjectTRANSPARENCY
dc.subjectTRUST FUND
dc.subjectUNION
dc.subjectURANIUM
dc.subjectVALUATION
dc.subjectWORLD INVESTMENT REPORT
dc.subjectZINC
dc.titleGovernment Response to Oil Price Volatility : Experience of 49 Developing Countries

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