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Author Treviño, Juan P. (Juan Pedro), author.

Title Oil-price boom and real exchange rate appreciation : is there Dutch disease in the CEMAC? / prepared by Juan P. Trevino
Published [Washington, D.C.] : International Monetary Fund, ©2011

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Description 1 online resource (30 pages) : illustrations
Series IMF working paper, 1018-5941 ; WP/11/268
IMF working paper ; WP/11/268.
Contents Cover Page; Title Page; Copyright Page; Abstract; Contents; I. Introduction; 1. Classification of countries in the CFA Franc Zone; II. The Resource Curse and The Dutch Disease; III. Resource Curse and Dutch Disease in CEMAC: What Do the Data Suggest?; A. Oil Abundance and Economic Performance; 2. International Prices and Terms of Trade in the CFA Franc Zone 1980-2009; 3. Non-Oil Real GDP Growth in the CFA Franc Zone, 1990-2009; 1. Average Annual Growth in the CFA Franc Zone; 1. Crude Oil Production in Oil Rich Countries of the CFA Franc Zone; B. The Spending Effect
4. Log of the Real Exchange Rate in the CFA Franc Zone, 1990-2009C. The Resource-Movement Effect; 5. Economically Active Population in Agriculture in the CFA Franc Zone 1981-2008 (annual growth rate); 6. Composition of Non-Oil Real GDP in the CFA Franc Zone, 1990-2009 (percent); 7. Non-Oil Exports in the CFA Franc Zone, 1980-2009; IV. Real Exchange Rate Appreciation and Growth: A Positive Correlation?; 2. Real Exchange Rate Changes and GDP Growth in the CFA Franc Zone; 8. Non-Oil GDP Growth and Real Exchange Rate Changes, 2002-09; V. The Role of Fiscal Policy
9. Government Spending to GDP in the CFA Franc Zone, 1990-2009VI. Conclusions and Further Research; 1. Country Summaries: Net Oil Exporters; 2. Country Summaries: Net Oil Importers; 3. Real GDP Growth in Oil Rich Countries; References; Footnotes
Summary "The paper employs a heuristic comparative approach suggested by Ismail (2009) to search for evidence of Dutch disease in oil-rich countries of the Central African Economic and Monetary Community (CEMAC). While these countries have benefitted from high international oil prices in recent years, they have also experienced relatively large real exchange rate appreciations, raising concerns regarding the presence of Dutch disease and casting doubts on their ability to achieve high growth and employment in the long run. To isolate from any dynamics related to the exchange rate regime, we focus on the 14 member countries that constitute the CFA franc zone. We separate them into net oil importers and net oil exporters and look at economic growth, the real exchange rate, and the agricultural and external sectors. Based on traditional models, our findings are broadly consistent with the presence of Dutch disease in the second group during the oil-price boom. Departing from these models yields mixed results, suggesting the need to employ a case-by-case approach"--Abstract
Notes At head of title: African Department
Title from PDF title page (IMF Web site, viewed July 24, 2012)
"November 2011."
Available in PDF, ePUB, and Mobi formats on the Internet
Bibliography Includes bibliographical references (pages 18-21)
Notes English
Subject Communauté économique et monétaire de l'Afrique centrale.
SUBJECT Communauté économique et monétaire de l'Afrique centrale fast
Subject Petroleum products -- Prices -- Africa, Central
Petroleum industry and trade -- Africa, Central
Foreign exchange rates -- Africa, Central
Foreign exchange rates
Petroleum industry and trade
Petroleum products -- Prices
Central Africa
Form Electronic book
Author Treviño, Juan P. (Juan Pedro)
International Monetary Fund. African Department, issuing body.
ISBN 1463939639
9781463991456
1463991452
9781463924676
1463924674
9781463939632