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Le syndrome hollandais : théorie et vérification empirique au Congo et au Cameroun

As a result of the sharp oil price during the late 1970's and early 1980's, Congo's exports(and Cameroon's ones to a lesser extent) became more concentrated on oil. One may say that a Dutch Disease occurred if we refer to the Congo's core export sector. However, this study shows that there is no link between the oil price boom and the squeeze of the Congo's lagging sector through the relative price movement, mainly the real effective exchange rate. Comeroon seems to have scrape from the Dutch Disease as well. Dutch Disease models, which works through the price signal and refer to developing countries monetary and homogeneous economics, do not seem to be applicable to the much disarticulated(with imperfect markets) economies of both Congo and Cameroon. The spread of the Dutch Disease in these countries has been stemmed by the disarticulation of their less developed economies(with heterogeneous price systems), the stabilisation role played by the informal sector, the membership to the Franc CFA, the level of self-consumption and the level of monetization in the rural areas. (Full text in French)

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File URL: http://ged.u-bordeaux4.fr/ceddt24.pdf
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Paper provided by Groupe d'Economie du Développement de l'Université Montesquieu Bordeaux IV in its series Documents de travail with number 24.

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Length: 22 pages
Date of creation: Jun 1998
Date of revision:
Handle: RePEc:mon:ceddtr:24
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