Determinants of Non-oil Growth in the CFA-Zone Oil Producing Countries: How do they Differ?
AbstractNon-oil growth in the CFA oil exporting countries has been lackluster despite their great natural resource wealth. In this paper we study the key determinants of non-oil growth and explore to what extent these countries differ from countries with comparable levels of development that do not depend on nonrenewable resources. Using a panel of 38 countries comprising LICs and CFA zone oil exporters, we find that while real exchange rate appreciation negatively impacted growth in all countries over the period 1985-2008, what distinguishes the oil producers of the CFA zone is the failure of public and private investment to spur non-oil growth.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 11/233.
Date of creation: 01 Oct 2011
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This paper has been announced in the following NEP Reports:
- NEP-AFR-2011-11-28 (Africa)
- NEP-ALL-2011-11-28 (All new papers)
- NEP-ENE-2011-11-28 (Energy Economics)
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