Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This departmental paper provides an in-depth overview of access to climate finance for Pacific Island Countries, evaluating successes and challenges faced by countries and proposes a way forward to unlock access to climate funds.

Climatic changes. --- Climate change --- Climate finance --- Climate --- Climatic changes --- Environment --- Environmental Economics --- Environmental economics --- Environmental Economics: General --- Environmental Policy --- Environmental policy --- Environmental sciences --- Finance, Public --- Global Warming --- International institutions --- National Government Expenditures and Related Policies: General --- Natural Disasters and Their Management --- Natural Disasters --- Natural disasters --- Political economy --- Public finance & taxation --- Public Finance --- Public financial management (PFM) --- Micronesia, Federated States of

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper investigates the likely implications of declining oil production on Yemen's equilibrium exchange rate, and discusses policy options to ensure a smooth transition to a nonoil economy. The empirical results suggest that, as oil production and foreign exchange earnings fall, the Yemeni rial will have to adjust downward in real effective terms to keep pace with the equilibrium exchange rate. In light of strong pass-through from exchange rate depreciation to domestic inflation, this could entail a substantial depreciation in nominal terms. Given the nature of the adjustment, a floating exchange rate regime appears to be the best option, if supported by appropriate macroeconomic policies. However, given public fixation on a exchange rate stability, a softly managed float would be a better option for Yemen whereby the central bank may have to lead the market toward the equilibrium exchange rate.

Exports -- Yemen (Republic). --- Foreign exchange rates -- Yemen (Republic). --- Petroleum industry and trade -- Yemen (Republic). --- Finance --- Business & Economics --- International Finance --- Foreign exchange rates --- Petroleum industry and trade --- Exports --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Fluctuating exchange rates --- Foreign exchange --- Rates of exchange --- Rates --- International trade --- Energy industries --- Oil industries --- Foreign Exchange --- Industries: Energy --- Monetary Policy --- Central Banks and Their Policies --- Macroeconomics: Production --- Currency --- Petroleum, oil & gas industries --- Real exchange rates --- Real effective exchange rates --- Oil production --- Exchange rate arrangements --- Production --- Yemen, Republic of