IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/05-235.html
   My bibliography  Save this paper

Emergence of the Gulf of Guinea in the Global Economy; Prospects and Challenges

Author

Listed:
  • Damian Ondo Mañe

Abstract

The Gulf of Guinea's tremendous potential is creating investment opportunities for the region. Some of its resources, such as oil, minerals, and forests, continue to attract significant investments whereas others, like natural gas, could be exploited to their full potential if necessary investments were undertaken. Nevertheless, the Gulf of Guinea has to cope with numerous challenges, both exogenous and endogenous, before it can fully benefit from its riches. One of these problems stems from the overwhelmingly weak institutions and governance, pointed by stylized facts, which add to the risks of "natural resource curse" and can feed the theory of the "Paradox of Plenty." The case is made that regional institutional arrangements and increased involvement of the international community and the African Diaspora should complement the efforts in which countries in the region should engage to address policy and governance issues. Complementary avenues are proposed, including maintaining stability and security, making better use of the region's own assets, putting in place a favorable business environment, and augmenting exports with value addition.

Suggested Citation

  • Damian Ondo Mañe, 2005. "Emergence of the Gulf of Guinea in the Global Economy; Prospects and Challenges," IMF Working Papers 05/235, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:05/235
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=18506
    Download Restriction: no

    References listed on IDEAS

    as
    1. Xavier Sala-i-Martin & Arvind Subramanian, 2013. "Addressing the Natural Resource Curse: An Illustration from Nigeria," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 22(4), pages 570-615, August.
    2. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
    3. Johannes Wiegand, 2004. "Fiscal Surveillance in a Petro Zone; The Case of the CEMAC," IMF Working Papers 04/8, International Monetary Fund.
    4. Thomas Baunsgaard, 2003. "Fiscal Policy in Nigeria; Any Role for Rules?," IMF Working Papers 03/155, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:05/235. 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: (Jim Beardow) or (Hassan Zaidi). General contact details of provider: http://edirc.repec.org/data/imfffus.html .

    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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.