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~institution:"Charles H. Dyson School of Applied Economics and Management, Cornell University"
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Resource /Energy Economics and Policy
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This paper discusses the policy issues facing Sno TomJ e PrRncipe
1
given the discovery and imminent exploitation of large reserves of oil in its territorial waters. A common reaction to news of a large oil discovery is to think that all economic problems can be solved by the flow of oil revenues. However
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history and recent analyses confirm that there is a strong comparative advantage in agriculture
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implying that investments which enhance productivity and efficiency in this sector would be appropriate for expenditure of oil revenues. In addition
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such a strategy would have beneficial effects in terms of poverty alleviation and equitable distribution of benefits from the coming windfall.
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the experience of numerous oil countries shows that it is necessary to temper this attitude somewhat since there are numerous pitfalls which can offset the positive aspects of oil riches. An appropriate policy for macro balance and for disposal of oil revenues will be essential if Sno TomJ e PrRncipe is to avoid the problems which have plagued countries such as Nigeria or Angola. The two main lessons of macroeconomics in such a situation is first not to generate revenue faster than it can be productively used and second to invest in such a manner that the country’s underlying comparative advantages are preserved. In the case of Sno TomJ e PrRncipe
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Kyle, Steven C.
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Charles H. Dyson School of Applied Economics and Management, Cornell University
EcoMod Network
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International Association of Agricultural Economists - IAAE
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Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
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Agricultural and Applied Economics Association - AAEA
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Department of Econometrics and Business Statistics, Monash Business School
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Department of Economics, University of Utah
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Banco de la Republica de Colombia
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School of Business, Edith Cowan University
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Australian Agricultural and Resource Economics Society - AARES
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Banca d'Italia
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CESifo
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College of Business, University of Texas-San Antonio
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Department of Agricultural, Food and Resource Economics, Michigan State University
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Department of Economics and Finance, College of Business and Economics
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Department of Economics, Faculty of Business and Economics
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Department of Economics, McMaster University
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Department of Economics, University of Warwick
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ESRC Centre for Economic Learning and Social Evolution (ELSE), Department of Economics
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Facultad de Ciencias Económicas y Empresariales, Universidad Complutense de Madrid
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Federal Reserve Bank of New York
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Fondazione ENI Enrico Mattei (FEEM)
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Graduate School of Economics, Kyoto University
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Institut für Lebensmittel und Ressourcenökonomik, Rheinische Friedrich-Wilhelms-Universität Bonn
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Institute for the Study of Labor (IZA)
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Keleti Károly Gazdasági Kar, Óbudai Egyetem
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UNIVERSIDAD JAVERIANA - CALI
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University of California, Davis, Center for Cooperatives
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World Scientific Publishing Co. Pte. Ltd.
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Staff Papers / Charles H. Dyson School of Applied Economics and Management, Cornell University
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We're Rich!! Or Are We? Oil and Development in Sao Tomé e Príncipe
Kyle, Steven C.
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Charles H. Dyson School of Applied Economics and …
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2003
Persistent link: https://www.econbiz.de/10009653808
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