Ghura, Dhaneshwar; Bhattacharya, Rina - International Monetary Fund (IMF) - 2006
This paper investigates the linkages between oil and growth in Congo, where there appears to be no evidence of direct … spillover effects. The empirical results suggest however that political instability has a negative effect on non-oil growth, and … that the presence of oil could have fueled political instability by being associated with weakening institutions. The …