IMF Book: Getting Energy Prices Right

July 31, 2014

Energy prices in many countries are wrong because they are set at levels that do not reflect environmental damage, notably climate change, air pollution, and various side effects of motor vehicle use, such as traffic accidents and congestion.
Energy tax reform need not be primarily about raising new revenues, but could focus on restructuring the tax system away from taxes that are likely to be most harmful for efficiency and growth, such as income taxes, and towards carefully designed taxes on energy. >>

Commodity Market Report

July 2014

Commodity prices rose by 0.5% in June, with gains in energy prices that were partly offset by declines in agriculture and metals. During the first six months (12/13 – 6/14), commodity prices rose 0.4% with moderate increases in energy and agriculture nearly offset by a 10% drop in metals—the latter due to weak demand and rising production capacity. A few commodities recorded large gains on supply issues, namely Arabica coffee, swine and nickel. >>

Aid and Oil

Rabah Arezki and Ritwik Banerjee

Finance & Development, March 2014, Vol. 51, No. 1

In recent years many developing economies, especially in sub-Saharan Africa, have found a new source of homegrown wealth that offers the same type of budgetary assistance as development aid—with none of the strings that donor countries often attach to how it can be used or reforms countries must make to continue receiving it. Across Africa, discoveries of large oil fields are changing the financial picture for many developing economies.¬ The paper explores the impact of these discoveries on foreign aid and offers policy recommendations.

International Conference on Food Price Volatility: Causes and Challenges Rabat, Morocco

February 25-26, 2014

The conference aims to stimulate discussion about the causes and socio-economic challenges of food price volatility. The conference will tackle both 'micro' issues such as drivers of food prices and policies to ensure food price security, as well as 'macro' issues (e.g., the appropriate monetary policy response to food and fuel price fluctuations). Leading academics and policy experts will make presentations followed by general discussions.

Commodity Market Review

October 2013

The impact of slowing emerging market growth is being felt on commodity prices, particularly metals. The first section of this special feature discusses likely first-round impacts of these declines on trade balances and the short run challenges from a more balanced and sustainable growth path in China for metal and energy exporters. It concludes with the price outlook and risks. The second section studies the impacts of the U.S. energy boom. Although the boom has disrupted relationships between some energy prices, impacts on U.S. output and the current account will be modest.