Journal Article

Reforming Fossil Fuel Subsidies : Drivers, Barriers and the State of Progress

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collection.link.125
https://openknowledge.worldbank.org/handle/10986/4401
collection.name.125
C. Journal articles published externally
dc.contributor.author
Rentschler, Jun
en_US
dc.contributor.author
Bazilian, Morgan
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dc.date.accessioned
2017-09-11T21:44:40Z
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dc.date.available
2017-09-11T21:44:40Z
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dc.date.issued
2016-06-24
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dc.description.abstract
This article outlines the current state of affairs in fossil fuel subsidy reform, and highlights its contribution at the nexus of climate policy, fiscal stability and sustainable development. It discusses common definitions, provides quantitative estimates, and presents the evidence for key arguments in favour of subsidy reform. The main drivers and barriers for reform are also discussed, including the role of (low) oil prices and political economy challenges. Commitments to subsidy reform by the international community are reviewed, as well as the progress at the country level. Although fossil fuel subsidy reform indeed plays a critical role in climate policy, experience shows that the rationale for such reforms is determined in a complex environment of political economy challenges, macro-economic, fiscal and social factors, as well as external drivers such as energy prices. The article synthesizes the key principles for designing effective reforms and emphasizes that subsidy reforms cannot only yield fiscal relief, but should also contribute to long-term sustainable development objectives. Areas for future research are also identified.
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dc.identifier.citation
Climate Policy
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dc.identifier.issn
1469-3062
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dc.identifier.uri
http://hdl.handle.net/10986/28300
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dc.language.iso
en_US
en_US
dc.publisher
Taylor and Francis
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dc.rights
CC BY-NC-ND 3.0 IGO
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dc.rights.holder
World Bank
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dc.rights.uri
http://creativecommons.org/licenses/by-nc-nd/3.0/igo
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dc.subject
ENVIRONMENTAL TAXES
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dc.subject
FISCAL REFORM
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dc.subject
FOSSIL FUEL SUBSIDIES
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dc.subject
CLIMATE POLICY
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dc.subject
CLIMATE CHANGE
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dc.subject
POLITICAL ECONOMY
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dc.title
Reforming Fossil Fuel Subsidies
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dc.title.subtitle
Drivers, Barriers and the State of Progress
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dc.type
Journal Article
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okr.associatedcontent
http://www.tandfonline.com/doi/full/10.1080/14693062.2016.1169393 Journal website (version of record)
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okr.date.disclosure
2017-09-11
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okr.doctype
Publications & Research :: Journal Article
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okr.doctype
Publications & Research
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okr.externalcontent
External Content
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okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1080/14693062.2016.1169393
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okr.journal.nbpages
891-914
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okr.peerreview
Academic Peer Review
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okr.topic
Energy :: Energy Policies & Economics
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okr.topic
Energy :: Oil & Gas
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okr.topic
Environment :: Climate Change Mitigation and Green House Gases
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okr.topic
Environment :: Environment and Energy Efficiency
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okr.topic
Environment :: Environmental Economics & Policies
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okr.topic
Macroeconomics and Economic Growth :: Taxation & Subsidies
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okr.volume
17(7)
en_US

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