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A financial social accounting matrix for the integrated macroeconomic model for poverty analysis : application to Cameroon with a fixed-price multiplier analysis

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  • Christian A. Emini
  • Hippolyte Fofack

Abstract

Cameroon is engaged in the Poverty Reduction Strategy Paper (PRSP) process, which emphasizes increased focus on poverty reduction in the design and implementation of growth and adjustment strategies. The Integrated Macroeconomic Model for Poverty Analysis (IMMPA) recently developed at the World Bank provides an analytical structure for supporting the PRSP process and quantifying poverty reduction strategies. Drawing on that framework, the authors provide a detailed financial social accounting matrix (SAM) for the Cameroonian economy to serve as input into the construction of an IMMPA model for Cameroon. An analysis of this financial SAM shows that the dramatic fall in investment during the crisis period persisted in the post-devaluation growth period in the late 1990s. Continued low investment has implications for ongoing high unemployment rates and poor welfare indicators. The authors illustrate this with simulations based on fixed-price multiplier analysis that highlight the potential growth and welfare benefits of increased public investment, following hypothetical debt relief and reduction of external debt servicing within the framework of the heavily indebted poor countries initiative.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 3219.

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Date of creation: 01 Feb 2004
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Handle: RePEc:wbk:wbrwps:3219

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Keywords: Economic Theory&Research; Labor Policies; Health Economics&Finance; Environmental Economics&Policies; Banks&Banking Reform; Environmental Economics&Policies; Economic Theory&Research; Poverty Assessment; Achieving Shared Growth; Banks&Banking Reform;

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References

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Citations

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Cited by:
  1. Fofack, Hippolyte L., 2005. "Nonperforming loans in Sub-Saharan Africa : causal analysis and macroeconomic implications," Policy Research Working Paper Series 3769, The World Bank.
  2. Djiofack, Calvin Z. & Omgba, Luc Désiré, 2011. "Oil depletion and development in Cameroon: A critical appraisal of the permanent income hypothesis," Energy Policy, Elsevier, vol. 39(11), pages 7202-7216.

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