IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-12558-6_2.html
   My bibliography  Save this book chapter

The Effects of Changes of Oil Prices on Peripheral Net Importers: A Crude Estimate with Special Reference to LDACs

In: The Least Developed and the Oil-Rich Arab Countries

Author

Listed:
  • Kunibert Raffer

Abstract

After 1973–4 the effects of higher oil prices were a subject hotly discussed by politicians as well as by international economists. Usually these effects were exaggerated and OPEC has served as a convenient scapegoat for many international problems, from peripheral debts — which have often been presented as the exclusive effect of recycling OPEC money — to balance of trade problems of oil-importing Peripheral Countries (PCs). Many a politician in the North found previously well-hidden sympathies for the poor, when touching on this topic. Attempts to measure the effects of oil-price changes on PCs objectively or to compare their dimension with other impacts of global economic relations were, by contrast, not so frequently made. One exception is the paper by Raffer (1982), which estimated the dimension of an international development tax on oil exports necessary to compensate net-importing PCs for the impact of higher oil prices. The resulting sums are by definition equivalent to the additional financial burden caused by oil price changes. The period covered are the years 1973–9. Until 1979 — for which only estimates existed at that time — the effect of higher oil prices on net-importing PCs was smaller than the difference between the famous 0.7 per cent aid target and Official Development Assistance (ODA) actually given by OECD countries.

Suggested Citation

  • Kunibert Raffer, 1992. "The Effects of Changes of Oil Prices on Peripheral Net Importers: A Crude Estimate with Special Reference to LDACs," Palgrave Macmillan Books, in: Kunibert Raffer & M. A. Mohamed Salih (ed.), The Least Developed and the Oil-Rich Arab Countries, chapter 2, pages 13-30, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-12558-6_2
    DOI: 10.1007/978-1-349-12558-6_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-12558-6_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.