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Escaping the Curse of Oil? The Case of Gabon

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Author Info
Ludvig Söderling
Abstract

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.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 02/93.

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Length: 36 pages
Date of creation: 31 May 2002
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Handle: RePEc:imf:imfwpa:02/93

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Keywords: Economic growth ; Gabon ; Oil ; Savings ; Investment ; Incomes policy ; Stabilization funds ; Economic models ;

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  15. Leamer, Edward E. & Maul, Hugo & Rodriguez, Sergio & Schott, Peter K., 1999. "Does natural resource abundance increase Latin American income inequality?," Journal of Development Economics, Elsevier, vol. 59(1), pages 3-42, June. [Downloadable!] (restricted)
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  18. Stanley Fischer & Ernesto Hernández-Catá & Mohsin S. Khan, 1998. "Africa - Is This the Turning Point?," IMF Policy Discussion Papers 98/6, International Monetary Fund.
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  20. Young, Alwyn, 1995. "The Tyranny of Numbers: Confronting the Statistical Realities of the East Asian Growth Experience," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 641-80, August. [Downloadable!] (restricted)
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  22. De Long, J Bradford & Summers, Lawrence H, 1991. "Equipment Investment and Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 445-502, May. [Downloadable!] (restricted)
    Other versions:
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