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Market efficiency impacted by government pricing policy for gasohol consumption : a case of Thailand

by Noppadol Sudprasert

Title:

Market efficiency impacted by government pricing policy for gasohol consumption : a case of Thailand

Author(s):

Noppadol Sudprasert

Advisor:

Thiraphong Vikitset

Degree name:

Doctor of Philosophy

Degree level:

Doctoral

Degree discipline:

Economics

Degree department:

School of Development Economics

Degree grantor:

National Institute of Development Administration

Issued date:

2015

Digital Object Identifier (DOI):

10.14457/NIDA.the.2015.42

Publisher:

National Institute of Development Administration

Abstract:

The aim of the dissertation is to examine the market efficiency of gasohol consumption in Thailand impacted by government pricing policies (a tax and subsidy regime managed via the Oil Fund) for 2004-2013. The deadweight losses in gasohol are estimated through the changes in consumer and producer surplus applying the Johansen cointegration method and the Vector Error Correction Model.
Consequently, the elasticity estimates indicate that the consumption of gasohol 91, E20, and E85 are elastic to their own prices in the long run. But gasohol 95 consumption is elastic to its own price in the short run. Besides, the total long run deadweight losses in gasohol 91, 95, E20, and E85 are 2937.63, 35611.81, 349.99, and 673.90 million baht for 2004-2013 and become 2348.09, 22861.09, 348.99, and 673.90 million baht for 2009-2013, respectively. Conspicuously, gasohol 95 causes the highest total deadweight loss, whereas gasohol E85 results in the maximum per unit deadweight loss (3.57 baht per liter). In comparison, the per unit deadweight losses in gasohol 91, 95, and E20 are rather small as 0.25, 1.21, and 0.19 baht per liter, respectively.
Thus, the government pricing policies are practical as a pricing strategy for achieving the objectives of gasohol usage promotion, but it creates market inefficiency. In addition, since taxation and subsidy of the Oil Fund generate the deadweight losses, the government should take advantage of the downtrend in global crude oil prices by abolishing the oil fund taxes (subsidies) on gasohol 91 and 95, reducing the oil fund taxes on gasoline (sustaining its prices beyond gasohol prices), and decreasing the oil fund subsidies on gasohol E20 and E85 in order to diminish the market inefficiency.

Description:

Thesis (Dh.D. (Economics))--National Institute of Development Administration, 2015

Subject(s):

Energy policy -- Thailand
Gasohol
Gasohol -- Government policy -- Thailand

Resource type:

Dissertation

Extent:

125 leaves

Type:

Text

File type:

application/pdf

Language:

eng

Rights:

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

URI:

https://repository.nida.ac.th/handle/662723737/5901
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ทรัพยากรสารสนเทศทั้งหมดในคลังปัญญา ใช้เพื่อประโยชน์ทางการเรียนการสอนและการค้นคว้าเท่านั้น และต้องมีการอ้างอิงแหล่งที่มาทุกครั้งที่นำไปใช้ ห้ามดัดแปลงเนื้อหา และทำสำเนาต่อ รวมถึงไม่ให้อนุญาตนำไปใช้ประโยชน์เพื่อการค้า ไม่ว่ากรณีใด ๆ ทั้งสิ้น



This item appears in the following Collection(s)

  • GSDE: Dissertations [56]

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Except where otherwise noted, content on this site is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International license.

Copyright © National Institute of Development Administration | สถาบันบัณฑิตพัฒนบริหารศาสตร์
Library and Information Center | สำนักบรรณสารการพัฒนา
Email: NIDAWR@nida.ac.th    Chat: Facebook Messenger    Facebook: NIDAWisdomRepository
 

 

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