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...

Intro -- Contents -- I. INTRODUCTION -- II. POLITICAL AND SECURITY SITUATION -- III. ECONOMIC PERFORMANCE SINCE 1970 -- IV. THE ROLE OF OIL IN CONGO -- V. NATURAL RESOURCES AND GROWTH -- VI. EMPIRICAL ANALYSIS OF THE DETERMINANTS OF ECONOMIC GROWTH -- VII. REAL EFFECTIVE EXCHANGE RATE...

In a number of oil producing countries, oil revenue accounts for the majority of government revenue, but is expected to be depleted in a relatively short time frame. Ensuring that fiscal policy is on a sustainable path is thus a high priority, but political and social adjustment costs create...

In a number of oil producing countries, oil revenue accounts for the majority of government revenue, but is expected to be depleted in a relatively short time frame. Ensuring that fiscal policy is on a sustainable path is thus a high priority, but political and social adjustment costs create...