LEADER 07412oam 22012614 450 001 9910818562903321 005 20240402045044.0 010 $a1-4755-7339-1 010 $a1-4755-4912-1 035 $a(CKB)2670000000246799 035 $a(EBL)1606546 035 $a(Au-PeEL)EBL1606546 035 $a(CaPaEBR)ebr10605257 035 $a(OCoLC)870244892 035 $a(IMF)OWCAEE 035 $a(IMF)OWCAEA 035 $a(MiAaPQ)EBC1606546 035 $a(EXLCZ)992670000000246799 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aOil Wealth in Central Africa : $ePolicies for Inclusive Growth /$fSharmini Coorey, Bernardin Akitoby 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (247 p.) 300 $aDescription based upon print version of record. 311 $a1-61635-376-7 320 $aIncludes bibliographical references and index. 327 $aCover; Contents; Foreword; Acknowledgments; About the Authors; Abbreviations; Overview; PART I: MACROECONOMIC AND GROWTH CHALLENGES; 1 The CEMAC's Macroeconomic Challenges; FIGURES; Figure 1.1 CEMAC: Growth and Development Challenges, 2005-10; TABLES; TABLE 1.1 Social Indicators; Figure 1.2 Fiscal Sustainability; TABLE 1.2 Infrastructure Costs; Figure 1.3 Exchange Rate Developments, 1990-2010; BOX 1.1 Inflation in the CEMAC Area; Figure 1.4 Non-Oil GDP Growth; TABLE 1.3 CEMAC: Selected Partners' Trade Shares (Percent of total trade); Figure 1.5 Credit to the Nonfinancial Private Sector 327 $aFigure 1.6 Investment Climate IndicatorsTABLE 1.4 Common External Tariffs: Selected Regions (Percent); Figure 1.7 Selected Regions: Intraregional Trade; TABLE 1.5 CEMAC: Millenium Development Goals, 1990 and 2009; APPENDIX TABLE 1.1 CEMAC: Selected Economic and Financial Indicators, 2005-10; 2 Improving Surveillance Across the CEMAC Region; BOX 2.1 Central African Economic and Monetary Community (CEMAC) Convergence Criteria; TABLE 2.1 CEMAC: Fiscal Convergence Criteria, 1998-2008; TABLE 2.2 Comparison of CEMAC Fiscal Indicators, 2000-08 (percent of GDP) 327 $aTABLE 2.3 Comparison of CEMAC Fiscal Indicators, 2000-08 (percent of non-oil GDP)Figure 2.1 CEMAC Non-oil Real GDP Growth and the Fiscal Impluse, 1995-2008; Figure 2.2 External Debt and Primary Gap, 1998-2008; TABLE 2.4 CEMAC Long-Term Macroeconomic Assumptions for Applying Rules-Based Measures (Percent, unless otherwise noted); Figure 2.3 Sustainability of the Non-Oil Primary Deficit under Different Fiscal Rules, 2009-13; TABLE 2.5 CEMAC Average Sustainable Non-oil Primary Deficit Under Different Fiscal Rules, 2009-48 (percent of Non-oil GDP) 327 $aFigure 2.4 CEMAC Sensitivity of the Sustainable Non-Oil Primary Deficit to Oil Prices Under a Permanent Income Hypothesis, 2009-13Figure 2.5 Central African Economic and Monetary Community Overall Fiscal Balance and External Current Account Balance; Figure 2.6 BEAC: Foreign Assets and Government Deposits, 1995-2008; TABLE 2.6 CEMAC: Currency Cover Ratio and Gross Official Reserves, 2000-08; 3 Determinants of Non-Oil Growth in the CFA Zone Oil-Producing Countries: How Do They Differ?; Figure 3.1 CFA Zone Countries and Select LICs: Non-Oil Growth and Development Indicators 327 $aTABLE 3.1 Growth and Total Investment: Estimation ResultsTABLE 3.2 Growth and Total Investment Robustness Check: Estimation Results Using the REER versus the PPP Undervaluation Index; TABLE 3.3 Growth and Investment: Estimation Results When Investment Is Disaggregated into Public and Private Investment; TABLE 3.4 Impact of investment on non-oil growth; 4 CEMAC's Infrastructure Gap: Issues and Policy Options; Figure 4.1 Changes in Growth per Capita Caused by Changes in Growth Fundamentals, 1990-2005 327 $aFigure 4.2 Changes in Growth per Capita in CEMAC Countries Caused by Infrastructure Improvements, 1999-2005 330 3 $aDespite its vast oil wealth, central Africa still struggles to sustain strong, inclusive economic growth and to generate sufficient employment opportunities, particularly for its fast-growing youth population. 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