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This study examines impacts on net social benefits or economic welfare of alternative policy instruments for reducing traffic congestion and atmospheric emissions in Sao Paulo, Brazil. The study shows that expanding road networks, subsidizing public transit, and improving automobile fuel economy may not be as effective as suggested by economic theories because these policies could cause significant rebound effects. Although pricing instruments such as congestion tolls and fuel taxes would certainly reduce congestion and emissions, the optimal level of these instruments would steeply increase the monetary cost of travel per trip and are therefore politically difficult to implement. However, a noticeable finding is that even smaller tolls, which are more likely to be politically acceptable, have substantial benefits in terms of reducing congestion and emissions. Among the various policy instruments examined in the study, the most socially preferable policy option for Sao Paulo would be to introduce a mix of congestion toll and fuel taxes on automobiles and use the revenues to improve public transit systems.

Atmospheric emissions --- Automobile --- Automobiles --- Climate change --- Congestion --- Congestion tolls --- Cost of travel --- Emissions --- Environment --- Fuel --- Fuel economy --- Fuel taxes --- Macroeconomics and Economic Growth --- Public transit --- Public transit systems --- Road --- Toll --- Traffic --- Traffic congestion --- Transport --- Transport Economics, Policy and Planning --- Trip --- Urban Transportation

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High volatility in the world prices of petroleum has been a characteristic feature of the global economy in the last decade. World petroleum prices increased four-fold between 2004 and 2008 and, and following a drop in prices in the second half of 2008, petroleum prices have been rising again, and they are several times higher than they were two decades ago. Since high and volatility of prices is likely to be a permanent feature of the global economy for the foreseeable future, they merit a reconsideration of the national transport and taxation policies that were put in place when fuel prices were not such a significant component of trade-related transactions costs in Sub-Saharan Africa (SSA) countries. Transport practices that were based on the assumption of low price of fuel are not sustainable, and policies neglect fuel efficiency considerations through lowering the fuel consumption of vehicles measures are no longer sustainable. Efficient and low transport cost is essential to achieve regional economic integration and strengthen Africa's competitiveness in external markets. Higher diesel prices also impact on the prices of all other goods which use diesel as an intermediate input. The most significant among them with implications for the poor in low-income developing countries is food, on which the poor spend a disproportionately high share of their total household expenditures. This report is in three parts in the first part, transport fuel prices in the countries of SSA are compared with those of other regions of the world. The comparison is not only in terms of the actual retail prices but also, but taking account of per capita incomes and truck revenues, also in terms of affordability. This Part also provides evidence of the make-up of transport fuel prices in SSA countries, as a first step in assessing how they can be dealt with. The second part provides new evidence of the impact of these high fuel prices on the export competiveness of a sample of six SSA countries. It also provides a shorter description of the results of a study of the impact of fuel prices on logistics costs in Central America, since so far there have not been any studies of the impact of high transport fuel prices on logistics and food costs in SSA countries. The third part deals with the ways in which the impact of high transport fuel prices can be addressed. Two main areas of action are described, those that would reduce the retail price of transport fuel and those that would increase fuel efficiency, so they impact of high prices would be reduced. This section focuses on diesel fuel, as this is by far the most used by the trucks that transport export products and are involved in domestic logistics. This section concludes with some ideas on what could be done next to make progress on implementing the most promising ideas for reducing the impact of high transport fuel prices.

Agriculture --- Bidding --- Car Ownership --- Climate Change --- Cost of Living --- Economic theory & Research --- Economies of Scale --- Electricity --- Energy --- Energy Production and Transportation --- Fuel Prices --- Fuel Taxes --- Fuels --- Gasoline Tax --- Gdp --- Inflation --- Kerosene --- Macroeconomics and Economic Growth --- Maritime Transport --- Marketing --- Oil & Gas --- Oil-Importing Countries --- Petroleum Products --- Petroleum Sector --- Price Stability --- Private Sector --- Roads --- Social Protections & Assistance --- Social Protections and Labor --- Transparency --- Transport Costs

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Despite the recent slowdown, the underlying growth of the global economy remains solid. After a 4 percent growth in 2010, Russia's real output is expected to grow 4.4 percent in 2011, increasingly driven by domestic demand. Russia's households have absorbed the food price shock thanks to a combination of higher wages and pensions, and resort to private and public safety nets. The country emerged from the global recession with lower unemployment and poverty than feared. But global risks and uncertainties increased with the new oil shock. Although the short-term impact will be positive for Russia's export and fiscal revenues, there is no room for complacency. Macroeconomic policy should focus on the short-term objective of controlling inflation and medium-term fiscal adjustment towards long-term, sustainable level of non-oil fiscal deficit. Improving the efficiency of public expenditure to create fiscal space for productive infrastructure and strengthening the investment climate for the private sector remain among key long-term challenges. The ongoing rethinking of the government's long-term strategy and a period of high oil revenues provide an opportunity to focus on these long-term issues more forcefully than during the global crisis.

Accounting --- Agriculture --- Airports --- Asset Management --- Business Environment --- Capital Expenditures --- Capital Flows --- Capital Markets --- Civil Service --- Commodity Prices --- Competitiveness and Competition Policy --- Credit Default Swaps --- Debt --- Decision Making --- Developed Countries --- Developing Countries --- Economic Forecasting --- Economic Growth --- Financial Services --- Fiscal & Monetary Policy --- Fiscal Policy --- Fuel Taxes --- Gdp --- Global Economy --- Gross Domestic Product --- Inflation --- Interest Rates --- Investment Climate --- Labor Costs --- Labor Market --- Macroeconomics and Economic Growth --- Market Economy --- Monetary Policy --- Operating Costs --- Private Sector Development --- Privatization --- Property Rights --- Public Investment --- Public Safety --- Public Sector Development --- Public Spending --- Railways --- Retirement --- Risk Aversion --- Roads --- Tax Administration --- Toll Roads --- Transparency --- Transport --- Unemployment --- Vehicles --- Wages