Oil Wealth and Non-oil Sector Performance in a Developing Country: Evidence from Cameroon
This paper provides the first econometric evidence on the impact of oil wealth on Cameroon's economy. In contrast to previous descriptive analyses, this paper reports that the oil boom had a positive effect on the traditional, non-oil sector in Cameroon and that the oil sector does not appear to have been responsible for the country's economic crisis or its consequences. In fact, oil wealth helped halt the decline in the non-oil sector that began before the oil boom. However, subsequent falls in oil production and oil prices were highly damaging to the economy. Consequently, the entire structure of Cameroon's economy, which is supported by growth in natural resources, comes into question, not management of the oil boom per se. This paper questions the timing of economic reforms in a resource-based country. It concludes that these reforms should be made during boom periods, when a country has enough resources to overcome the social problems that occur during structural reforms and when the country is in a position gradually to undertake such reforms.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 39 (2011)
Issue (Month): 4 (December)
|Contact details of provider:|| Web page: http://www.tandfonline.com/CODS20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CODS20|
When requesting a correction, please mention this item's handle: RePEc:taf:oxdevs:v:39:y:2011:i:4:p:487-503. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.