 Determinants of Non-oil Growth in the CFA-Zone Oil Producing Countries: How do they Differ?Alexandra Tabova and Carol Baker No 2011/233, IMF Working Papers from International Monetary Fund Abstract: 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. Keywords: WP; public goods; economic growth; oil exports; public investment; real exchange rate; oil exporter; investment share; robustness check; growth equation; management process; investment project appraisal; Public investment spending; Public investment and public-private partnerships (PPP); Real exchange rates; Oil; Private investment (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2011/233 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.