Oil Revenues and Economic Policy in Cameroon: Results from a Computable General Equilibrium Model

摘要

The paper analyzes the impact of oil revenues on the agriculture-based economy of Cameroon, a significant (100,000 barrels per day) but temporary (20 years' of reserves) oil producer. It has been observed in other oil exporting countries that when oil revenues are spent domestically, an appreciation of the real exchange rate results, leading to a shift in the production mix away from tradeable sectors in favor of nontradeables. Using a multisectoral, general equilibrium model of Cameroon, the authors show that while this effect occurs in the aggregate, some tradeable sectors actually expand. (Copyright (c) 1985, The International Bank for Reconstruction and Development/The World Bank.)