| Description |
1 online resource (34 pages :) : illustrations |
| Series |
IMF working paper ; WP/13/144 |
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IMF working paper ; WP/13/144.
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| Contents |
Cover; Contents; I. Introduction; II. Literature Review: Revenue Management from Non-Renewable Natural Resources; III. Cameroon: Experience and Issues; Figures; Figure 1. Cameroon: Revenue and Expenditure, 1980 -- 2011; IV. The Model; A. Representative Agent Maximization Problem; B. Production; C. Fiscal Policy and the Ramsey Problem; V. Model Calibration and Simulation Method; Tables; Table 1. Bayesian Posterior Means of the Model; Table 2. Maximum Likelihood Estimates; VI. Results of Policy Scenarios; A. "Scaling-Up with Reform" Scenario; B. "Conservative" Scenario |
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Figure 2. Cameroon: Public Investment Path, 2012 -- 32Figure 3. Cameroon: Scaling-Up with Reform Scenario, 2012-32; Figure 4. Policy Scenarios with Oil Endowment Depleting by 2032; C. "Scaling-Up No Reform" Scenario; VII. Conclusion and Policy Implications; Appendix: First Order Conditions; Figure 5. Cameroon: Selected Economic Indicators, 1980-2010; References |
| Summary |
This paper assesses the implications of the use of oil revenue for public investment on growth and fiscal sustainability in Cameroon. We develop a dynamic stochastic general equilibrium model to analyze the effects of such investment on growth and on the path of key fiscal indicators, such as the non-oil primary deficit and public debt. Policy scenarios show that Cameroon's large infrastructural needs and relatively low current debt levels could justify a temporary deviation from traditional policy advice that suggests saving part of the oil revenue to smooth expenditure over time. Model simulations show that a relatively high degree of efficiency of public investment is needed for scaled-up public investment to make a significant contribution to growth, while maintaining fiscal sustainability |
| Bibliography |
Includes bibliographical references |
| Notes |
English |
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Print version record |
| Subject |
Public investments -- Cameroon
|
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Economic history
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Public investments
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| SUBJECT |
Cameroon -- Economic conditions.
http://id.loc.gov/authorities/subjects/sh85019137
|
| Subject |
Cameroon
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| Form |
Electronic book
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| Author |
Priscilla, Muthoora, author
|
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Versailles, Bruno, 1978- author.
|
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International Monetary Fund, issuing body.
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| ISBN |
1484353080 |
|
9781484353080 |
|
1484302966 |
|
9781484302965 |
|
1484322061 |
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9781484322062 |
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1484318250 |
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9781484318256 |
| ISSN |
2227-8885 |
|
