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Title: Oil Prices Hit Hard On Asia’S Poor

Essay Details

Subject: Business
Date: July 26, 1996
Length: 3 / 768
No of views: 0
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Essay text:

The poor are cutting back even on bare essentials of travel and services which are increasingly beyond their reach. The Oil Price Vulnerability Index (OPVI) developed in this report ranks countries in terms of their economic strength and performance, and the extent to which this growth depends upon imported oil...

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The OPVI is a composite index which brings together 18 indicators which tracks the level of dependence of economies to imported oil, and thereby, their vulnerability to fluctuations in global oil prices. The countries that are ranked most vulnerable are Maldives, Cambodia and Sri Lanka, whose low economic strength, lower economic performance and high oil dependence, are immediately evident...

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