After the Oil: Challenges Ahead in Gabon

Ludvig Söderling

Journal of African Economies, 2006, vol. 15, issue 1, pages 117-148

Abstract: 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 importance of adequate real exchange rate management is also underlined. Copyright 2006, Oxford University Press.

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