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  • Poverty and growth impacts of high oil prices: Evidence from Sri Lanka

    Author(s)
    Naranpanawa, Athula
    Bandara, Jayatilleke S
    Griffith University Author(s)
    Bandaralage, Jayatilleke
    Naranpanawa, Athula
    Year published
    2012
    Metadata
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    Abstract
    The sharp rise in oil and food prices in 2007 and 2008 caused negative impacts on poverty and economic growth in many oil and food importing developing countries. Some analysts believe that these countries are under stress again due to a rise in crude oil prices, to a two-and-a-half year high in March 2011, which has also been partly responsible for higher food prices in recent months. However, there is a limited body of empirical evidence available from developing countries on the impact of high oil prices on growth in general and household poverty in particular. In this study, Sri Lanka is used as a case study and a ...
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    The sharp rise in oil and food prices in 2007 and 2008 caused negative impacts on poverty and economic growth in many oil and food importing developing countries. Some analysts believe that these countries are under stress again due to a rise in crude oil prices, to a two-and-a-half year high in March 2011, which has also been partly responsible for higher food prices in recent months. However, there is a limited body of empirical evidence available from developing countries on the impact of high oil prices on growth in general and household poverty in particular. In this study, Sri Lanka is used as a case study and a computable general equilibrium (CGE) approach is adopted as an analytical framework to explore the growth and poverty impacts of high oil prices. The results suggest that urban low income households are the group most adversely affected by high global oil prices, followed by low income rural households. In contrast, estate low income households are the least affected out of all low income households. The energy intensive manufacturing sector and services sector are affected most compared to the agricultural sector.
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    Journal Title
    Energy Policy
    Volume
    45
    DOI
    https://doi.org/10.1016/j.enpol.2012.01.065
    Subject
    Applied economics not elsewhere classified
    Urban and regional planning
    Policy and administration
    Environmental and resources law
    Publication URI
    http://hdl.handle.net/10072/46886
    Collection
    • Journal articles

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