Escaping the Curse of Oil? The Case of Gabon

This paper studies the prospects for sustainable growth and economic development in Gabon, in the face of a severe decline in its main source of income and growth, i.e. oil. A simple Computable General Equilibrium model is used to simulate the development of the non-oil economy under various assumpt...

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Bibliographic Details
Main Author: Söderling, Ludvig
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2002
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a Gabon 
653 |a Finance 
653 |a Public finance & taxation 
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653 |a Capital and Total Factor Productivity 
653 |a Production 
653 |a Industrial productivity 
653 |a Exhaustible Resources and Economic Development 
653 |a Other Public Investment and Capital Stock 
653 |a Intangible Capital 
653 |a National accounts 
653 |a Foreign Exchange 
653 |a Macroeconomic Analyses of Economic Development 
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653 |a Capacity 
653 |a Public investment and public-private partnerships (PPP) 
653 |a Financial Risk Management 
653 |a Capital 
653 |a Foreign exchange 
653 |a National Government Expenditures and Related Policies: Infrastructures 
653 |a Debt relief 
653 |a Investment 
653 |a One, Two, and Multisector Growth Models 
653 |a Private investment 
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520 |a This paper studies the prospects for sustainable growth and economic development in Gabon, in the face of a severe decline in its main source of income and growth, i.e. oil. A simple Computable General Equilibrium model is used to simulate the development of the non-oil economy under various assumptions. The results of the simulations underline Gabon's dependence on foreign financing-especially private-and its vulnerability to variations in oil prices. The potential role of an income stabilization fund is also discussed