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P.R.C.'s Price Reform and the Trend in Energy Prices

Li Zheng, Zhang Jian

Year: 1988
Volume: Volume_9
Number: Special Issue 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-NoSI1-3
No Abstract



Political and Economic Changes in the USSR: Energy Implications

Alexander A. Arbatov

Year: 1991
Volume: Volume 12
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol12-No3-1
View Abstract

Abstract:
The Soviet Union has played an important role in the European energy scene for more than two decades. The USSR is the largest oil and natural gas producer in the world and the largest coal producer in Europe. The USSR is also one of the largest oil and gas exporters. The main part of Soviet oil and gas is directed to Europe. Despite the drop of oil production and exports during the last two years the USSR still remains a significant oil supplier and the largest supplier of natural gas to Europe (see tables 1 and 2).



Energy Issues in Central and Eastern Europe: Considerations for International Financial Institutions

Joerg-Uwe Richter

Year: 1992
Volume: Volume 13
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol13-No3-12
View Abstract

Abstract:
This paper reviews the main institutional, economic, and technical issues related to energy sector rehabilitation and development which the countries of Central and Eastern Europe face in the process of economic transformation. These issues concern the institutional weaknesses at the sectoral, subsectoral, and enterprise levels; remaining inadequacies in energy pricing; high energy intensity, low energy efficiency, and the related environmental degradation; and excessive dependence on energy imports from the former USSR.The Governments of the region are determined to introduce the reforms necessary for viable energy development. This is bound to be a substantial task that requires a coherent strategy with consistent policies and institutional measures. The most important ones are: establishing a pro-competition regulatory framework; restructuring energy enterprises, and enhancing the role of the private sector; setting energy prices that reflect economic costs; enhancing energy efficiency and environmental management of energy operations; improving the productivity of energy subsectors and enterprises through rehabilitation and technical modernization; and redirecting energy trade.Energy demand in the region may regain 1990-91 levels by the end of this decade. Nevertheless, investment requirements for rehabilitation and expansion over the next decade may total US$120-150 bn (in 1991 prices and exchange rates) for the region as a whole, which cannot be met without considerable international financial assistance.





Cuba's Transition to Market-Based Energy Prices

Jorge F. Perez-Lopez

Year: 1992
Volume: Volume 13
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol13-No4-2
View Abstract

Abstract:
Since 1960 the Soviet Union has been, for all practical purposes, Cuba's exclusive supplier of energy products. For certain time periods, Soviet sales of oil and oil products to Cuba were made at concessional prices; prior to 1991, they were priced using transferable rubles and were essentially bartered for Cuban goods, especially sugar.Effective January 1, 1991, the Soviet Union shifted to world market prices and convertible currency payments for all traded commodities, including energy products. The shift to market prices and convertible currencies in CubanSoviet energy trade has already brought-or is likely to bring a number of adjustments in four areas: 1) the trade balance; 2) the ability to reexport oil and oil products; 3) energy consumption patterns;. 4) and the structure of energy supplies.



Mexico's Economic Reform: Energy and the Constitution

Luis Rubio

Year: 1993
Volume: Volume14
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol14-No3-11
View Abstract

Abstract:
Oil is a fundamental component of nationhood in Mexico. The 1938expropriation of oil resources concluded a process of internal politicalconsolidation and thus became the most important symbol of nationalism. Mexico has been undergoing a process of economic reform that has altered the country's economic structure and has subjected it to international competition. Oil in particular and energy in general have been left untouched. There is recognition that without an equal reform of the energy industry, the potential for success will be significantly limited. While the Constitution allows private investment in the industry-with the exception of the resource properties themselves--the Regulatory Law bans any private participation. Because of its political sensitivity, however,amending the law in order to reform the oil industry will necessitate a domestic initiative rather than foreign pressure. In this perspective, NAFTA served to slow and postpone the reform of the industry, rather than the opposite. Once NAFTA is well in place, the industry will have to face competition.



Tax Reform and Energy in the Philippines Economy: A General Equilibrium Computation

Roy G. Boyd, Khosrow Doroodian, and Prapassorn Udomvaech

Year: 1994
Volume: Volume15
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No2-8
View Abstract

Abstract:
This paper examines how energy tax cuts, offset with income tax increases, affect production, consumption, and total welfare in the Philippines economy. Our results show that energy tax cuts expand the energy and nonmetal mining sectors, but decrease output in the manufacturing, agricultural, and metal mining sectors. Consumption o all goods and services combined increases as the amount of energy tax reduction increases. Our welfare results, however, are mixed. Mile the welfare of the mid- and high-income levels increases, that of the lowest income level decreases. These results are robust with respect to changes in the elasticity of substitution in energy production as well as the elasticity of substitution in consumer demand. From the standpoint of economic efficiency, a policy such as this would enhance growth and aggregate income. From an equity standpoint, however, this policy is highly regressive in spite of the fact that the richest households pay proportionately more to finance the energy tax reduction.



Fundamental U.S. Tax Reform and Energy Markets

Dale W. Jorgenson and Peter J. Wilcoxen

Year: 1997
Volume: Volume18
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol18-No3-1
View Abstract

Abstract:
This paper presents a new intertemporal general equilibrium model of the U. S. economy incorporating a detailed representation of U.S. tax structure. We employ the model to analyze the impact of fundamental tax reform on U.S. energy markets. More rapid economic growth would dominate energy conservation, leading to greater energy consumption and higher carbon emissions.



Impact of Pay-at-the-Pump on Safety Through Enhanced Vehicle Fuel Efficiency

J. Daniel Khazzoom

Year: 1997
Volume: Volume18
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol18-No3-5
View Abstract

Abstract:
Pay-at-the-Pump (PATP) is a proposal for replacing the lump-sum payment of auto insurance by a system of surcharge on gasoline price. This study examines the main argument made against PATP-namely, that by stimulating the demand for fuel-efficient vehicles, PATP results in a drastic deterioration in highway safety. The study finds the evidence does not support this argument. Moreover, if as critics argue, PATP does indeed result in a substantially accelerated replacement of older vehicles with more fuel-efficient ones, the introduction of PATP may be expected to result in a substantially safer fleet of vehicles, as well.



Productivity Trends in India's Energy Intensive Industries

Joyashree Roy, Jayant Sathaye, Alan Sanstad Puran Mongia and Katja Schumacher

Year: 1999
Volume: Volume20
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol20-No3-2
View Abstract

Abstract:
This paper reports on an analysis of productivity growth and input trends in six energy intensive sectors of the Indian economy, using growth accounting and econometric methods. The econometric work estimates rates and factor price biases of technological change using a translog production model with an explicit relationship defined for technological change. Estimates of ownprice responses indicate that raising energy prices would be an effective carbon abatement policy for India. At the same time, our results suggest that, as with previous findings on the U.S. economy, such policies in India could have negative long run effects on productivity in these sectors. Inter-input substitution possibilities are relatively weak, so that such policies might have negative short and medium term effects on sectoral growth. Our study provides information relevant for the analysis of costs and benefits of carbon abatement policies applied to India and thus contributes to the emerging body of modeling and analysis of global climate policy.




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