We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Oil Subsides impact on a government budget in Indonesia Iran and Venezuela - Essay Example

Comments (0)
Summary
It is reported that global oil consumption will reach 90 million barrels per day reflecting commitment of many countries in providing subsidies for gasoline and oil. Subsidies on fuel products normally influence the steady state level of macroeconomic aggregates such as…
Download full paper
GRAB THE BEST PAPER
Oil Subsides impact on a government budget in Indonesia Iran and Venezuela
Read TextPreview

Extract of sample
Oil Subsides impact on a government budget in Indonesia Iran and Venezuela

Download file to see previous pages... It is worth noting that subsidies on fuel consumption have critical macroeconomic consequences and that many subsidies fail to serve their purpose thus causing unsustainable development. This paper attempts to analyze oil subsides’ impact on a government budget in Indonesia Iran and Venezuela.
Globally, all governments are greatly concerned with their energy sectors because of the key role energy plays in the economic development. Energy consumption calls for public interventions such as use of direct grants and all sorts of tax break that are hidden in public and economic structures (Gavish & Gavish, 2012). Two-thirds of all subsidies flow to fossil fuels where subsidies to energy production are common in industrialized countries while support to energy consumption dominate developing countries (Davis, 2013). Different categories of subsidies have different impacts that include low energy prices that enhance overuse and waste while underpricing hurts energy producers. On the other hand, producer subsidies promote overproduction characterized by protection and quantity regulations that trigger further distortions in the local economy.
Rationale to subsidize energy has always been to stimulate economic growth but the notion changed after the oil crises in 1970s. The growth motive was no longer considered important because governments thought it necessary to safeguard domestic energy supply while developing countries subsidized energy consumption to fuel economic growth. According to Davis (2013), energy subsidies are believed to avert possible barriers to growth although this concept has been proven ineffective especially in stimulating economic growth. According to Gavish & Gavish (2012), there are studies that show that energy subsidies hamper economic growth and therefore eliminating them (subsidies) may provide incentives for a more efficient resource allocation and spur economic growth. Moreover, energy subsidies ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Venezuela
The country of Brazil forms the southern international boundary for this nation, whose official name is Bolivarian Republic of Venezuela (Conley 6). It has to be said that the native masses of the region mostly belong to the Hispanic culture which is prominent in the regions and nations of South America.
5 Pages(1250 words)Essay
Debate the merits and problems of oil nationalisation for Iran
The country was seen to swiftly adopt various measures and policies that helped it nationalize its oil industry. However, Iran had ignored to take a close objective look at the possible consequences it stood to face as a result of nationalizing its oil industry.
18 Pages(4500 words)Essay
Oil in Venezuela
Oil was initially being used for medicinal purposes, but when the Spanish arrived in Venezuela in the 16th century. They learnt from the indigenous people how to use the naturally occurring bitumen for caulking their ships and also treating their weapons. The first shipment of oil from Venezuela is actually documented to have been done in 1539.
11 Pages(2750 words)Research Paper
US government mngement budget plnning nd control
Budgets limit expenditures to the revenue аvаilаble, to ensure bаlаnce аnd prevent overspending. Most of the work in drаwing up а budget is technicаl, estimаting how much it will cost to feed а thousаnd shut-ins with а Meаls-on-Wheels progrаm or how much revenue will be produced from а 1 percent tаx on retаil sаles.
9 Pages(2250 words)Essay
Indonesia
65.5% of the population is aged 15-64 years (78.1 million males, 78.15 million females). Over time the size of the 65 and over age group is expected to increase substantially - it is projected to be 9.2% of the total population by the year 2025. (U.S. Census Bureau) The population doubling time of the country is estimated at 43 years.
4 Pages(1000 words)Essay
Positive Effects of Balancing Government Budget
This essay focuses on the identification of the main positive impacts, that prudent approach to national budget formation has on the state of public finances. All the advantages that such approach brings are considered. Balancing budget ensures that the government builds on its strategic cash reserves, by encouraging appropriate fiscal policies.
3 Pages(750 words)Essay
Fiscal Policy: Government spending, taxes, budget processes,
d 43% of its total revenues from individual incomes taxes, 42% from Social Security/Social Insurance Taxes and && from corporate taxes (see Office of Management and Budget 2011 Budget-Summary Table S-3). According to the monthly budget review report of the Congressional Budget
3 Pages(750 words)Essay
Indonesia
Besides the breathtaking Geography of the country its rich cultural heritage is one of the foremost things without the mentioning of which any discussion about Indonesia would be incomplete. The islands of Indonesia have been said
3 Pages(750 words)Essay
Government & Business in Southeast Asia - Indonesia
However, Indonesia remains in isolation of this since it has managed to maintain stability despite the widespread Patrimonialism. In addition, although Indonesia has undergone change in its political, social, and economic systems, it still holds on to some
2 Pages(500 words)Essay
Globalization Impact on Iran
According to the report the increasing role of transnational companies, blurring the boundaries between different countries, increasing a number of immigrants have become the essential features of the realities of the modern world. It is a well-known fact that globalization process has both positive as well as negative effects.
6 Pages(1500 words)Essay
Let us find you another Essay on topic Oil Subsides impact on a government budget in Indonesia Iran and Venezuela for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us