Assessing the Impact of Higher Oil Prices in Latin America

World Bank

Washington, DC

关键词: AGRICULTURAL COMMODITIES;    AMMONIA;    APPROACH;    AVERAGE PRICE;    BALANCE;   

RP-ID  :  69564

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

For some Latin American countries -especially, the oil importers in the Caribbean - risingenergy prices could pose a significant threat to theircurrent account sustainability, particularly if they areaccompanied by other negative shocks. In some countries thefiscal costs associated with subsidies to protect domesticconsumers have been considerable so far. Hence, a betterunderstanding of the effects of high oil prices andpotential responses in the region is needed. This reportevaluates the effects of oil shocks on economic performancefor a sample of selected Latin American countries. Theeffects at the country level depend not only on thestructural characteristics of the economy, such as thedegree of dependence on oil, but also on the policyreactions to rising prices. Among the countries included inour study we have: large economies (Argentina, Brazil,Colombia and Mexico), net oil exporters (Venezuela andEcuador), and net oil importers (Dominican Republic, ElSalvador, Guyana and Honduras).