Can the Oil Price Stabilisation Fund Reduce the Volatility of Domestic Prices?

IF 1.4 3区社会学 Q1 AREA STUDIES

Asia & the Pacific Policy Studies Pub Date : 2025-06-19 DOI:10.1002/app5.70036

The Anh Pham

引用次数: 0

Abstract

This paper has two primary objectives. First, it contributes to the literature on oil stabilisation funds and price controls by examining how such a fund is used to regulate market prices in the developing country of Vietnam. Second, it employs descriptive statistics and a standard GARCH methodology to investigate whether the fund, which operates as a form of price control, can effectively reduce domestic price volatility. The results show that the oil price stabilisation fund failed to achieve its intended goal. Considering the administrative costs and other negative impacts associated with the fund, a more market-oriented approach, potentially combined with a price-elastic tax system, is recommended for determining domestic oil prices.

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油价平准基金能否降低国内物价波动？

本文有两个主要目标。首先，它通过研究如何使用这种基金来调节越南发展中国家的市场价格，为石油稳定基金和价格控制的文献做出了贡献。其次，采用描述性统计和标准GARCH方法来调查作为一种价格控制形式的基金是否能有效降低国内价格波动。结果表明，油价稳定基金未能达到预期目标。考虑到与该基金有关的行政费用和其他负面影响，建议在确定国内石油价格时采用更面向市场的办法，并可能结合价格弹性税收制度。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Asia & the Pacific Policy Studies AREA STUDIES-

CiteScore

3.20

自引率

5.30%

发文量

审稿时长

6 weeks

期刊介绍： Asia & the Pacific Policy Studies is the flagship journal of the Crawford School of Public Policy at The Australian National University. It is a peer-reviewed journal that targets research in policy studies in Australia, Asia and the Pacific, across a discipline focus that includes economics, political science, governance, development and the environment. Specific themes of recent interest include health and education, aid, migration, inequality, poverty reduction, energy, climate and the environment, food policy, public administration, the role of the private sector in public policy, trade, foreign policy, natural resource management and development policy. Papers on a range of topics that speak to various disciplines, the region and policy makers are encouraged. The goal of the journal is to break down barriers across disciplines, and generate policy impact. Submissions will be reviewed on the basis of content, policy relevance and readability.