Oil and Growth in the Republic of Congo

WPIEA2006185 Image
Price:  $15.00

Author/Editor: Dhaneshwar Ghura, Rina Bhattacharya
Release Date: © August, 2006
ISBN : 978-1-45186-445-8
Stock #: WPIEA2006185
Stock Status: On back-order

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This paper investigates the linkages between oil and growth in Congo, where there appears to be no evidence of direct spillover effects. The empirical results suggest however that political instability has a negative effect on non-oil growth, and that the presence of oil could have fueled political instability by being associated with weakening institutions. The results also show that fiscal discipline is beneficial for growth. In addition, there are strong linkages between world oil prices and the real effective exchange rate, with movements in the latter having important indirect repercussions for growth.

More publications in this series: Working Papers

More publications by: Dhaneshwar Ghura ; Rina Bhattacharya