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Oil Spill(over)s : Linkages in Petroleum Product Pricing Policies in West African Countries / Mohamed El Harrak, Antonio David, Lorraine Ocampos, Marshall Mills.
- Format:
- Book
- Government document
- Author/Creator:
- El Harrak, Mohamed.
- Series:
- IMF Working Papers; Working Paper ; No. 2011/102
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Petroleum products--Prices--Africa, West--Econometric models.
- Petroleum products.
- Petroleum products--Prices--Econometric models.
- Physical Description:
- 1 online resource (47 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2011.
- Language Note:
- English
- Summary:
- This paper addresses a number of issues regarding petroleum product pricing in Western Africaemphasizing international spillovers. We use panel unit root rests and long-run modeling based on vector error correction models to assess links and convergence in petroleum product prices across countries. Our results indicate that in general over the long-run there is convergence in prices across the countries. The estimation results for gasoline and diesel prices suggest the presence of long-run links between retail prices among the different country groupings with long-run multipliers ranging from 11 to -6.66. The speed of Adjustment to equilibrium varies significantly according to the countrygroupings considered. In contrast, the econometric results for kerosene prices not only indicate a weaker link between prices across countries, but also a much slower adjustment to equilibrium. Inlight of these important spillovers, the need to better coordinate pricing s and tax policies towards petroleum products at the regional level becomes apparent.
- Contents:
- Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Cross-Country Experiences on Petroleum Pricing Policies; III. Linkages and Convergence in Petroleum Product Prices in West Africa; IV. Conclusions and Policy Implications; A. Annex: Variables Definitions and Sources; B. Annex: Panel Unit Root Tests for Gasoline, Kerosene and Diesel Prices; C. Annex: Panel Unit Root Tests for International Relative Prices; V. References; Footnotes
- Notes:
- Description based upon print version of record.
- Includes bibliographical references.
- Description based on online resource; title from PDF title page (ebrary, viewed September 27, 2014).
- ISBN:
- 9786613865038
- 9781462395996
- 1462395996
- 9781462387922
- 1462387926
- 9781283552585
- 1283552582
- 9781455256334
- 1455256331
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