How Large Are Global Energy Subsidies?

How Large Are Global Energy Subsidies?
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Volume/Issue:
2015/105
Series:
IMF Working Papers
Author(s):
David Coady, Ian Parry, Louis Sears, and Baoping Shang
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
May 2015
DOI:
http://dx.doi.org/10.5089/9781513532196.001
ISBN:
9781513532196
ISSN:
1018-5941
Page:
42
This paper provides a comprehensive, updated picture of energy subsidies at the global and regional levels. It focuses on the broad notion of post-tax energy subsidies, which arise when consumer prices are below supply costs plus a tax to reflect environmental damage and an additional tax applied to all consumption goods to raise government revenues. Post-tax energy subsidies are dramatically higher than previously estimated, and are projected to remain high. These subsidies primarily reflect under-pricing from a domestic (rather than global) perspective, so even unilateral price reform is in countries' own interests. The potential fiscal, environmental and welfare impacts of energy subsidy reform are substantial.
Article

How Large Are Global Energy Subsidies?

Author(s):
David Coady, Ian Parry, Louis Sears, and Baoping Shang
Published Date:
May 2015
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