Title Emergence of the Gulf of Guinea in the global economy : prospects and challenges / prepared by Damian Ondo Mañe

Published [Washington, D.C.] : International Monetary Fund, Office of the Executive Director, Africa, 2005

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Description 1 online resource (24 pages) : illustrations Series IMF working paper ; WP/05/235 IMF working paper ; WP/05/235. Contents Contents -- I. INTRODUCTION: COMPARATIVE ADVANTAGE -- II. GROWING INTEREST IN THE REGION -- III. COPING WITH THE OBSTACLES TO THE REGION�S DEVELOPMENT -- IV. A FEW IDEAS FOR THE DEVELOPMENT OF THE REGION -- V. CONCLUSIONS AND RECOMMENDATIONS -- References Summary The Gulf of Guinea's tremendous potential is creating investment opportunities for the region. Some of its resources, such as oil, minerals, and forests, continue to attract significant investments whereas others, like natural gas, could be exploited to their full potential if necessary investments were undertaken. Nevertheless, the Gulf of Guinea has to cope with numerous challenges, both exogenous and endogenous, before it can fully benefit from its riches. One of these problems stems from the overwhelmingly weak institutions and governance, pointed by stylized facts, which add to the risks of "natural resource curse" and can feed the theory of the "Paradox of Plenty." The case is made that regional institutional arrangements and increased involvement of the international community and the African Diaspora should complement the efforts in which countries in the region should engage to address policy and governance issues. Complementary avenues are proposed, including maintaining stability and security, making better use of the region's own assets, putting in place a favorable business environment, and augmenting exports with value addition Bibliography Includes bibliographical references (pages 23-24) Notes Print version record Subject Fiscal policy -- Guinea, Gulf of Economic history Fiscal policy SUBJECT Guinea, Gulf of -- Economic conditions Subject Atlantic Ocean -- Gulf of Guinea Form Electronic book Author International Monetary Fund. Office of the Executive Director, Africa, issuing body. ISBN 1282391976 9781282391970 9781451907902 1451907907

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