Oil-price boom and real exchange rate appreciation : is there Dutch disease in the CEMAC? /

Oil-price boom and real exchange rate appreciation : is there Dutch disease in the CEMAC? /

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Bibliographic Details
Author / Creator:	Treviño, Juan P. (Juan Pedro), author.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2011.
Description:	1 online resource (30 pages) : illustrations
Language:	English
Series:	IMF working paper, 1018-5941 ; WP/11/268 IMF working paper ; WP/11/268.
Subject:	Communauté économique et monétaire de l'Afrique centrale. Communauté économique et monétaire de l'Afrique centrale. Petroleum products -- Prices -- Africa, Central. Petroleum industry and trade -- Africa, Central. Foreign exchange rates -- Africa, Central. Foreign exchange rates. Petroleum industry and trade. Petroleum products -- Prices. Central Africa. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12500591

Hidden Bibliographic Details
Other authors / contributors:	Treviño, Juan P. (Juan Pedro) International Monetary Fund. African Department, issuing body.
ISBN:	1463939639 9781463991456 1463991452 9781463924676 1463924674 9781463939632
Notes:	At head of title: African Department. Title from PDF title page (IMF Web site, viewed July 24, 2012). "November 2011." Available in PDF, ePUB, and Mobi formats on the Internet. Includes bibliographical references (pages 18-21). English.
Summary:	"The paper employs a heuristic comparative approach suggested by Ismail (2009) to search for evidence of Dutch disease in oil-rich countries of the Central African Economic and Monetary Community (CEMAC). While these countries have benefitted from high international oil prices in recent years, they have also experienced relatively large real exchange rate appreciations, raising concerns regarding the presence of Dutch disease and casting doubts on their ability to achieve high growth and employment in the long run. To isolate from any dynamics related to the exchange rate regime, we focus on the 14 member countries that constitute the CFA franc zone. We separate them into net oil importers and net oil exporters and look at economic growth, the real exchange rate, and the agricultural and external sectors. Based on traditional models, our findings are broadly consistent with the presence of Dutch disease in the second group during the oil-price boom. Departing from these models yields mixed results, suggesting the need to employ a case-by-case approach"--Abstract.
Other form:	Print version: Fund, International Monetary. Oil-Price Boom and Real Exchange Rate Appreciation: Is There Dutch Disease in the CEMAC? Washington : International Monetary Fund, ©2011 9781463924676
Standard no.:	10.5089/9781463924676.001

Description
Summary:	The paper employs a heuristic comparative approach suggested by Ismail (2009) to search for evidence of Dutch disease in oil-rich countries of the Central African Economic and Monetary Community (CEMAC). While these countries have benefitted from high international oil prices in recent years, they have also experienced relatively large real exchange rate appreciations, raising concerns regarding the presence of Dutch disease and casting doubts on their ability to achieve high growth and employment in the long run. To isolate from any dynamics related to the exchange rate regime, we focus on the 14 member countries that constitute the CFA franc zone. We separate them into net oil importers and net oil exporters and look at economic growth, the real exchange rate, and the agricultural and external sectors. Based on traditional models, our findings are broadly consistent with the presence of Dutch disease in the second group during the oil-price boom. Departing from these models yields mixed results, suggesting the need to employ a case-by-case approach.
Item Description:	At head of title: African Department. Title from PDF title page (IMF Web site, viewed July 24, 2012). "November 2011." Available in PDF, ePUB, and Mobi formats on the Internet.
Physical Description:	1 online resource (30 pages) : illustrations
Bibliography:	Includes bibliographical references (pages 18-21).
ISBN:	1463939639 9781463991456 1463991452 9781463924676 1463924674 9781463939632
ISSN:	1018-5941 ;