Escaping the Curse of Oil? The Case of Gabon
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Summary:
This paper studies the prospects for sustainable growth and economic development in Gabon, in the face of a severe decline in its main source of income and growth, i.e. oil. A simple Computable General Equilibrium model is used to simulate the development of the non-oil economy under various assumptions. The results of the simulations underline Gabon's dependence on foreign financing-especially private-and its vulnerability to variations in oil prices. The potential role of an income stabilization fund is also discussed.
Series:
Working Paper No. 2002/093
Subject:
Asset and liability management Debt relief Expenditure Foreign exchange National accounts Private investment Production Public investment and public-private partnerships (PPP) Public investment spending Real effective exchange rates Total factor productivity
English
Publication Date:
May 1, 2002
ISBN/ISSN:
9781451851663/1018-5941
Stock No:
WPIEA0932002
Pages:
36
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