Determinants of Non-oil Growth in the CFA-Zone Oil Producing Countries PDF Download

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Determinants of Non-oil Growth in the CFA-Zone Oil Producing Countries

Determinants of Non-oil Growth in the CFA-Zone Oil Producing Countries PDF Author: Ms.Alexandra Tabova
Publisher: International Monetary Fund
ISBN: 1463921993
Category : Business & Economics
Languages : en
Pages : 22

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Book Description
Non-oil growth in the CFA oil exporting countries has been lackluster despite their great natural resource wealth. In this paper we study the key determinants of non-oil growth and explore to what extent these countries differ from countries with comparable levels of development that do not depend on nonrenewable resources. Using a panel of 38 countries comprising LICs and CFA zone oil exporters, we find that while real exchange rate appreciation negatively impacted growth in all countries over the period 1985-2008, what distinguishes the oil producers of the CFA zone is the failure of public and private investment to spur non-oil growth.