02280cas a2200277 a 4500 AALejournalIMF007162 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455260379 1018-5941 BD-DhAAL BD-DhAAL El Harrak, Mohamed. Oil Spill(over)s : Linkages in Petroleum Product Pricing Policies in West African Countries / Mohamed El Harrak, Antonio David, Lorraine Ocampos, Marshall Mills. Washington, D.C. : International Monetary Fund, 2011. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper addresses a number of issues regarding petroleum product pricing in Western Africaemphasizing international spillovers. We use panel unit root rests and long-run modeling based on vector error correction models to assess links and convergence in petroleum product prices across countries. Our results indicate that in general over the long-run there is convergence in prices across the countries. The estimation results for gasoline and diesel prices suggest the presence of long-run links between retail prices among the different country groupings with long-run multipliers ranging from 11 to -6.66. The speed of Adjustment to equilibrium varies significantly according to the countrygroupings considered. In contrast, the econometric results for kerosene prices not only indicate a weaker link between prices across countries, but also a much slower adjustment to equilibrium. Inlight of these important spillovers, the need to better coordinate pricing s and tax policies towards petroleum products at the regional level becomes apparent. Mode of access: Internet David, Antonio. Mills, Marshall. Ocampos, Lorraine. IMF Working Papers; Working Paper ; No. 2011/102 Full text available on IMF http://elibrary.imf.org/view/journals/001/2011/102/001.2011.issue-102-en.xml IMF e-Library