Energy Subsidy Reform: Lessons and Implications - Softcover

Softcover

ISBN 10: 1475558112 ISBN 13: 9781475558111

Publisher: International Monetary Fund, 2013

Synopsis

Energy subsidies have wide-ranging economic consequences. While aimed at protecting consumers, subsidies aggravate fiscal imbalances, crowd-out priority public spending, and depress private investment, including in the energy sector. Subsidies also distort resource allocation by encouraging excessive energy consumption, artificially promoting capital-intensive industries, reducing incentives for investment in renewable energy, and accelerating the depletion of natural resources. Most subsidy benefits are captured by higher-income households, reinforcing inequality. Even future generations are affected through the damaging effects of increased energy consumption on global warming. This paper provides: (i) the most comprehensive estimates of energy subsidies currently available for 176 countries, and (ii) an analysis of “how to do” energy subsidy reform, drawing on insights from 22 country case studies undertaken by IMF staff and analyses carried out by other institutions.

About this edition

• Publisher: International Monetary Fund
• Publication date: 2013
• ISBN 10: 1475558112
• ISBN 13: 9781475558111
• Binding: Paperback
• Number of pages: 185
• Editor: Benedict J. Clements, David Coady, Stefania Fabrizio, Sanjeev Gupta, Trevor Alleyne, Carlo Sdralevich