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Escaping the Curse of Oil? The Case of Gabon
Author:
Mr. Ludvig Söderling null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2002: Issue 093
Language:
English
Publication Date:
01 May 2002
DOI:
https://doi.org/10.5089/9781451851663.001
ISBN:
9781451851663
ISSN:
1018-5941
Pages:
36
Keywords:
WP; private sector; financing; GDP; Gabon; growth; oil; diversification; savings; investment; income stabilization fund; stabilization fund; investment balance; oil GDP; financing needs; Dutch disease; constant returns to scale; Public investment spending; Private investment; Real effective exchange rates; Total factor productivity; Debt relief; Sub-Saharan Africa
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund