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Oil and Growth in the Republic of Congo Author info | Abstract | Publisher info | Download info | Related research | Statistics Rina Bhattacharya
Dhaneshwar Ghura
This paper investigates the linkages between oil and growth in Congo, where there appears to be no evidence of direct spillover effects. The empirical results suggest however that political instability has a negative effect on non-oil growth, and that the presence of oil could have fueled political instability by being associated with weakening institutions. The results also show that fiscal discipline is beneficial for growth. In addition, there are strong linkages between world oil prices and the real effective exchange rate, with movements in the latter having important indirect repercussions for growth.
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Paper provided by International Monetary Fund in its series IMF Working Papers with number
06/185.
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Length: 41 pages
Date of creation: 14 Aug 2006Date of revision:
Handle: RePEc:imf:imfwpa:06/185Contact details of provider: Postal: International Monetary Fund, Washington, DC USA Phone: (202) 623-7000 Fax: (202) 623-4661 Email: Web page: http://www.imf.org/external/pubind.htm More information through EDIRC
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Keywords: oil conflicts economic growth Oil Congo Republic of Economic growth Real effective exchange rates Other versions of this item:
This paper has been announced in the following NEP Reports :
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Daniel Leigh & Stéphane Carcillo & Mauricio Villafuerte, 2007.
"Catch-Up Growth, Habits, Oil Depletion, and Fiscal Policy: Lessons from the Republic of Congo ,"
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